Spencer Stuart: Point of View: The Internet of Things

Spencer Stuart finds that the transformational phenomenon, the Internet of Things (IoT), has gained a lot of attention from consumers, businesses and even governments.  These parties see the potential for the IoT to drive new business opportunities.

Many organizations are predicting enormous opportunities for the Internet of Things. Cisco predicts IoT will have an economic impact of over $14 trillion by 2022 and GE forecasts Internet of Things will add $15 trillion to the world economy over the next 20 years.

The driving force behind the IoT is Internet-connected devices—smart phones, tablets, personal computers, cars, refrigerators and industrial machinery—are all one. The rapid advances in basic computing and storage capability and cost are enabling large volumes of data to be captured and analyzed.  This means one day it would be possible to power on every office, street and traffic light in a country.

This article is part of Spencer Stuart’s Point of View 2014.

The full article is published on Spencer Stuart’s website. Read the full article.