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The Guardian, UK, Cites a Cognizant and Economist Intelligence Unit Study in Discussing the Impact of the Smart Product Economy

“A recent study by Cognizant and the Economist Intelligence Unit on the rise and impact of the smart product economy found that 40% of businesses plan to use smart products to automate customer service operations, while 46% report that smart products are already bringing them information about their customers that was previously not possible or not cost effective to acquire,” writes The Guardian.

It notes, “From remote controlled heating devices such as Nest and Hive to intelligent fridges, smart TVs and connected washing machines, our appliances will become smart, automating many of our everyday tasks. But true to the notion of the internet of everything in which both things and processes are connected, smart devices won’t just eliminate everyday tasks such as supermarket orders, they will also establish new business relationships.”

“Inevitably,” the paper adds, “this sea of personalized data, generated by linking individuals and households with specific products and services has a huge value to businesses.”

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