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Will the future of IoT impact business relationships?

The immediate reaction to this question is "yes, of course", but, I think when we step back a bit, this question is constantly asked and there are many solution vendors out there who are putting their minds together to come up with a solution that hopefully will align the impact/risk of IoT with the business requirements, thus smoothing out the relationships.  I also think company policies around IoT is just as important, not relying solely on technology to resolve people/process problems/deficiencies.

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Anonymous Author
The immediate reaction to this question is "yes, of course", but, I think when we step back a bit, this question is constantly asked and there are many solution vendors out there who are putting their minds together to come up with a solution that hopefully will align the impact/risk of IoT with the business requirements, thus smoothing out the relationships.  I also think company policies around IoT is just as important, not relying solely on technology to resolve people/process problems/deficiencies.
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Anonymous Author
Definitely. While many focus on manufacturing IoT, the greater is healthcare and critical infrastructure control systems.
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Anonymous Author
Simply throwing IoT out there to see what sticks is a recipe for disaster.  It's important to step away from the hype (IoT) and focus on the problem you are trying to solve.  We had a problem that needed to be solved... specifically, identifying the hours of operation and space utilization in our Library.  People sensors (IoT) was the perfect fit to help solve this problem.  If we had started with "lets install people sensors and see what we can do with them!" then it's quite possible the project would have failed miserably because we'd be ad-hoc with trying to figure out what to do with them.
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Anonymous Author
Yes, however, in many cases IoT is framed based on consumer use cases—this is often how most people become acclimated—which presents a number of challenges in the commercial/enterprise space: 1. Consumer IoT is generally not very secure and favors easy of deployment. In our side we are seeing use cases being developed that don’t account for some of the factors consumers often overlook such as the exposure of PII, strong authentication, and long-term TCO; 2. Liability is still very uncertain. It’s not clear if/how cyber insurance policies cover IoT and laws around the development of new PII-like information are not clear (for example collating data across multiple IoT systems can be used to identify individuals). Further, if IoT devices are compromised and used as a botnet and these devices use a combination of local sensors and cloud compute accountability is often unclear; and 3. There are very few standards in IoT/IIoT. At the same time business often looks at procuring these devices either as it would for standard IT devices or as standard OT devices (where protocols and standards are more established). The convergence of data and operations is still a work-in-progress. 4. Health and safety is often not a large concern for traditional IT. When you move to IoT/IIoT health and safety needs to be considered in conjunction with the CIA triad. In many cases regulation has fallen very far behind the curve resulting in a high level of uncertainty with business planning.
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Anonymous Author
I think it will, and it could be a very productive part of business generation. I work in the finance industry and can think of a million ways different devices and systems could integrate directly with a business or consumer's financial institution. We already have the ability to tell devices in our home to interact with one another, allowing businesses to connect to each other this way seems inevitable.
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Anonymous Author
Yes I think it will, but it will be a slow evolution and not a revolution. Just like the move from 3G to 4G to 5G has allowed faster and more seamless access to mobile data, IoT will allow us to have more data touch points with more people, devices and situations. The challenge becomes, as it is today, how to not just be "data rich / information poor", but take control of these new tools and possibilities to drive better business outcomes.
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Anonymous Author
Yes, it will definitely impact business relationships.  I also agree that companies need to have policies based around IoT. Data mining will be very important in my industry.
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Anonymous Author
Yes, very much and in every aspect of business. A lot of process will be affected and automation will bring efficiency and iot will grow and make us benefits.
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Anonymous Author
similar to all the other colleagues it will impact a big time even now it is happening. All these Beacons and sensors reading real time and using edge technology to processes and 5g to transfer the data in real time the business is able to know what is going on and make action about it even before it is happening proactively and it shift the focus of the business from data collection to data digestion and action upon it so no more time wasted on preparing reports and submitting them instead the decision maker is watching heat map and acting against it . This will make the organization more data driven and smarter.
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Anonymous Author
IoT is in the process of becoming completely embedded in the entirety of our lives, both in business and in our homes.  SO, yes, business relationships will be impacted. IoT is an ever-evolving landscape that will continue to push in many directions; I can foresee IoT being a huge enabler of many B2B functions and processes, far beyond where we are today.  It can be used to automate and simplify many functions, and can be used to remove the human capability of  "mistakes" from various business entanglements.
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Anonymous Author
I think it'll help to create automated collaborations or licensing the data and the services as well, so a company will use its data for their core business and also can get some other benefits by making it available for others who might have a use for it. It could be a good idea to create a data broker for the customers and suppliers to meet, with a business model like airbnb or uber.
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