Cisco has been discussing the next advance in technology, describing it as the Internet of Everything. Cisco defines the Internet of Everything (IoE) as “as the networked connection of people, process, data, and things.”[i] Not only will IoE change the way that we are connected, it will provide opportunities for companies across the globe to increase their profit and market share. A recent report reviewed the Top 10 Insights from Cisco IoE Value Index survey. Some highlights follow below:
Insight – “The Internet of Everything is poised to generate at least $613 billion in global corporate profits in calendar year 2013.”
As technology continues to evolve, the impending efficiencies in operations and customer service experience will allow companies to generate more income.
Insight – “Corporations could potentially nearly double those profits by adopting business practices, customer approaches, and technologies that more fully leverage IoE.”
By adjusting corporate strategies to adopt to this coming change, companies have the opportunity to capture additional income.
Insight – “Competition will intensify as IoE evens the playing field between large and small companies around the globe.”
IoE will not occur in a vacuum. Competition will increase as your rivals adapt to these new advances and compete for market share.
Insight – “While technology is pivotal, people and process make the difference.”
Any advance in technology or new method of addressing old problems does not matter if it does help people. Your employees and customers will not see the benefit of these developments without a focus on how it helps people.
At TBL Networks, we pride ourselves by designing solutions for our clients that allow their employees and customers to connect to each other in ways that improve the quality and speed of interaction. We call this techumanity. The Internet of Everything is coming – whether it improves our world will depend on where we all keep the focus. By connecting the unconnected and remembering the value of our customers and employees, the Internet of Everything can benefit us all.