As per the recent reports, the IoT connectivity will undergo a huge advancement in the future years. Currently, we are all undergoing the phase of drastic evolution in technology & innovation. In this competitive phase, the businesses are exposed and have to adapt to such changes to ensure their existence. When there was nationwide lockdown due to pandemic COVID-19 shattered the future goals of the business. With the advancement of IoT, things became easier. It provides great opportunities for the companies to digitally transform each and every aspect of the business. IoT improves productivity, ensures safe and efficient supply chains.
The tech industry has come up with quite interesting technologies that include the Internet of Things (IoT), artificial intelligence (AI), machine learning, business intelligence. These technologies have become the solution to all the problems or issues faced by the business and enhance the top line or revenues. These connected technologies assure a better transformation to the businesses. They provide real-time data, useful insights, and wider connectivity. The brighter side will attract the company to jump to these new technologies and augment its usage.
But businesses do face a common problem specifically in IoT. They try to solve an issue without an effective strategy. A proper strategy should be implemented to achieve any kind of goal. There are two types of IoT solutions:
Business outcome -driven IoT solutions
The general adoption of smart IoT solutions
The general adoption of smart IoT solutions is only the sake of publicity and promotion. A connected home is a suitable instance, common devices such as connected coffee maker, smart fridge. The products suit the convenience of customers.
In reality, the business should focus on adopting business outcome-driven solutions because these solutions address the real needs of a business. These solutions are aligned with the goals and objectives of the company.
Amidst of disruptions, there are changing needs that will enable the companies to approach the Internet of Things differently. The outbreak of COVID-19 is the present instance where the companies have to transform digitally, set new goals and standards for the business. The company must focus on the current operations and conduct continuous research on how to overcome the challenges during a disruption. The role of IoT and AI will be very crucial post-COVID-19.
