The drive towards connected consumer, connected economy coupled with reduced cost of sensors, connectivity and processing is accelerating IoT adoption, globally. Presenting the three main trends that will predominate IoT landscape in 2020:
1. IoT will be at the heart of improved Citizen Services. Healthcare and agriculture use cases will predominate emerging economies like India, in a big way!
Smart Cities, Digital Villages and Good Governance initiatives in emerging economies is resulting in the uptick of IoT technology adoption not only in urban but also in the rural regions. Wider adoption when augmented with rigorous skill development initiatives in countries such as India, Sri Lanka etc will witness a positive impact of IoT & AI on job creation in rural sectors with special focus on agriculture and healthcare. For example, IoT and AI-based applications will create over 2.8 million jobs in rural India over a period of 8 to 10 years. Out of the 2.8 million jobs, at least 2.1 million jobs will be created for the agriculture sector (smart farming) and the other 0.7 lakh jobs in the rural healthcare sector as predicted in the study done by Broadband India Forum in consultation with the Electronics Skill Council of India, the Agriculture Skill Council and the Healthcare Sector Skill Council.
2. Worldwide, Governments will graduate from focusing on proposing guidelines for standardizing IoT Security to implementing IoT policy and stricter enforcement.
As the number of IoT connected devices increases to 75.44 bn worldwide by 2025 (Statista) so does the threat of cyber attacks, critically from the breaches through unsecured connected IoT devices and applications. Governments, worldwide, are investing heavily in technologies, such as, IoT, AI, ML, Robotics for improving services to its citizens. So far, substantial work has been done by policymakers, not-for-profit forums and industrialist in identifying strategic issues & impact assessments of IoT on policies and regulations, leading to creation of frameworks and guidelines for cyber security policies for IoT. While 2018-19 saw these frameworks maturing, in 2020 we will see governments pushing guidelines more strictly for businesses to comply. EU GDPR would lead as a benchmark for other countries to enforce IoT security policies.
3. Data Privacy & IoT Security by Design will dominate boardroom & business meetings. The General Data Protection Regulation (GDPR) will redefine CxO roles!
Data collection from IoT devices and analysis is core to IoT implementations. With increasing vulnerability of cyber attacks through IoT devices and EU GDPR in action, IoT security & data privacy are a prime concern, steering boardroom and client discussions. GDPR enforcement has implications not only on businesses operating in EU but outside too. In addition, GDPR is redefining the way business collects and manages data. In 2020, we will see how deeply its going to impact roles for key leaders in businesses, from CIOs to CMOs. With GDPR in full force, CIOs must ensure that they have flawless consent management systems and processes in place for their organisations. Similarly, CMOs would require effective data rights management systems to ensure they don’t lose their most valuable asset – data. A slip in handing data privacy would invite penalisation so severe that it may force the business to shut down completely.
In summary, IoT will be at the heart of improved Citizen Services in 2020. Worldwide, Governments will graduate from focusing on proposing guidelines for standardizing IoT Security to implementing IoT policy and stricter enforcement. In addition, Data Privacy & IoT Security by Design will dominate boardroom & business meetings. The GDPR will redefine CxO roles majorly.