However, CIOs need to prepare short-term policies for integration, analytics and security, and long term policies for governance and cooperation strategies.
Seven technologies underpin the IoT, including: Data Federation/Virtualization Tools, IoT Edge Architecture, IoT Integration, IoT Services, Low-cost Development Boards, Machine Learning, and MDM of Product Data.
CIOs might be in charge of implementing IoT products for all business units, but given the diversity of technologies, it can be difficult to find staff to support all IoT initiatives. IoT services are professional consulting services that provide business and technical expertise to support design, development, and deployment of IoT solutions.
Given the ever expanding uses and demands of the IoT, it can be difficult to supply in-house IoT-related skills and analytic domain expertise to support IoT solutions. Businesses should define the necessary IoT service requirements and create a formal IoT service request to ensure that the IoT services are able to support all the needs of the company.
While self-driving cars are probably the most well-known example of machine learning, the technology could also have an impact in automation, drug research, customer relationship management, predictive maintenance and fraud detection. Machine learning is one of of the top two concepts in IT as growing surges in data volume and increasing complexities in conventional engineering have made keeping up--for humans--extremely challenging.
In the future, industries like transportation, energy, medicine and manufacturing will not be possible without machine learning. Companies should nurture their in-house machine learning talent, and partner with universities and thought leaders to stay abreast of current data science and consider the potential business impact across a wide range of use cases.
Low-Cost Development Boards
While low-cost development boards can be used to applications such as 3D printers, robotics, and healthcare applications, they can also be used to prototype basic IoT applications. With the success of the original low-cost development boards, more and more semiconductor companies are launching their own versions, moving the technology from the Peak of Inflated Expectations to post-peak. Current boards are proving functionality, and once they prove capability, will need to be redesigned to prove reliability and cost-effectiveness for mass marketing.
The boards will shorten the time to market for designers, a critical aspect of new product development, allowing for a faster development from idea to prototype to marketing. Additionally, the availability of the boards will allow small-scale startups and individual developers to innovate and enter the industry.