But like big data platforms or cloud computing, most of them are general purpose technologies simply being harnessed in the service of marketing — often under the cover of a more marketing-specific application.
For instance, IBM Watson is probably the best-known AI platform today. But for marketers, it’s much more interesting to look at a product such as Equals 3 that leverages Watson behind the scenes to deliver market research, customer segmentation, and media planning services, all tailored to marketing’s exact needs.
Companies are also poised to start a real-world rollout of blockchain technology. Though it is more famous as the basis for cryptocurrency, blockchain’s business applications include direct transactions and distributed ledgers that increase security and decrease the complexity of transactions. This has obvious implications for digital and international transactions as well as tracking provenance. “This is very real,” said Brigid McDermott, vice president of Blockchain Business Development at IBM. “What blockchain does is provide a trust system of record between disparate companies.”
But the real opportunity is in the convergence of these disruptive technologies.
Enterprises must understand that IoT by itself is not truly transformational.
The key for IoT success will be its convergence with other up-and-coming technologies. This will take IoT from simply a means of connecting devices that generate data to a disruptor that creates trillions of dollars in business value.
Think of AI as the brain and IoT as the body: AI (especially machine learning) provides the intelligence, while IoT delivers the data AI needs and the physical means to act on AI’s decisions.
New opportunities created by the union of AI and IoT include predictive analytics for manufacturers, remote patient monitoring for healthcare workers and much more across vertical industries.
The third technology vital to IoT’s growth in 2018 is fog computing, which has quickly become a mainstream concept describing a distributed cloud environment. With many bandwidth-intensive IoT applications requiring real-time data processing, traditional cloud computing, focused on batch processing, is no longer sufficient. Fortunately, fog computing breaks down this adoption obstacle.
Find out how J&C can help make your company start taking advantage of the latest technology. The result will be a better experience for your customers and better business outcomes for you.