Changing business landscape
With the rising importance of technology driven business transformation, emphasis on certain enterprise and consumer-based opportunities and challenges emerges. Business leaders need to frame strategies in order to grab right opportunities at the right time to remain competitive in the current market.
To take advantage of the game-changing opportunities enabled by current technology mega-trends, businesses are looking to equip themselves with the latest tech advancements. The five mega-trends that will impact the technology business in a big way and most likely drive enterprise business transformation in the coming years include - mobile devices, data analytics, cloud computing, social media and Internet of things.
Internet of Things – catalyst for real-time business models
Internet of Things (IoT) is creating unique opportunities for both individuals and organizations to realize greater business value by interconnecting people, processes, data and things. The ultimate aim of IoT is to increase the operational efficiency, evolve new business models, and improve the quality of life. IoT brings numerous opportunities for new, innovative products and services that can be offered through smart devices, machines and products. IoT is already transforming industries and will generate even more significant change in the coming years.
Associated risks
With more than 10 billion connected devices, which are expected to reach 50 billion by 2020, IoT brings significant risks for businesses and consumers as more devices come online. This indicates that with more connected devices, more personal and business data remain in the cloud and be exchanged back and forth giving rise to the possibility of being compromised.
In such scenarios, IoT can act as infection vectors causing damage to a great extent and spreading malware across organizations. These concerns were raised by twenty six percent and thirteen percent of people surveyed by the SANS Institute.