Gartner reveals its top 10 strategic IoT technologies and trends at ITxpo

By Anasia D’mello

Gartner, Inc. highlighted the top strategic Internet of Things (IoT) technology trends that will drive digital business innovation from 2018 through 2023.

“The IoT will continue to deliver new opportunities for digital business innovation for the next decade, many of which will be enabled by new or improved technologies,” said Nick Jones, research vice president at Gartner. “CIOs who master innovative IoT trends have the opportunity to lead digital innovation in their business.”

In addition, CIOs should ensure they have the necessary skills and partners to support key emerging IoT trends and technologies, as, by 2023, the average CIO will be responsible for more than three times as many endpoints as this year.

Analysts discussed how CIOs can lead their businesses to discover IoT opportunities and make IoT projects a success during Gartner Symposium/ITxpo, which is taking place here through Thursday.

Gartner shortlisted the 10 most strategic IoT technologies and trends that will enable new revenue streams and business models, as well as new experiences and relationships:

Trend No. 1: Artificial Intelligence (AI)

Gartner forecasts that 14.2 billion connected things will be in use in 2019, and that the total will reach 25 billion by 2021, producing immense volume of data. “Data is the fuel that powers the IoT and the organisation’s ability to derive meaning from it will define their long term success,” said Mr Jones. “AI will be applied to a wide range of IoT information, including video, still images, speech, network traffic activity and sensor data.”

The technology landscape for AI is complex and will remain so through 2023, with many IT vendors investing heavily in AI, variants of AI coexisting, and new AI-based tolls and services emerging. Despite this complexity, it will be possible to achieve good results with AI in a wide range of IoT situations. As a result, CIOs must build an organisation with the tools and skills to exploit AI in their IoT strategy.

Trend No. 2: Social, legal and ethical IoT

As the IoT matures and becomes more widely deployed, a wide range of social, legal and ethical issues will grow in importance. These include ownership of data and the deductions made from it; algorithmic bias; privacy; and compliance with regulations such as the General Data Protection Regulation.

“Successful deployment of an IoT solution demands that it’s not just technically effective but also socially acceptable,” said Mr Jones. “CIOs must, therefore, educate themselves and their staff in this area, and consider forming groups, such as ethics councils, to review corporate strategy. CIOs should also consider having key algorithms and AI systems reviewed by external consultancies to identify potential bias.”

Trend No. 3: Infonomics and data broking

Last year’s Gartner survey of IoT projects showed 35% of respondents were selling or planning to sell data collected by their products and services. The theory of infonomics takes this monetisation of data further by seeing it as a strategic business asset to be recorded in the company accounts. By 2023, the buying and selling of IoT data will become an essential part of many IoT systems. CIOs must educate their organisations on the risks and opportunities related to data broking in order […]

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Posted on: November 8, 2018

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