Digital News Asia: Cognizant’s Venture Leader of Engineering and Manufacturing Solutions Says the Evolution of IoT Around Multiple Standards will Lead to the Best-of-Breed Standards

“Such is the advancement in the area of ambient computing that there are now more smart ‘things’ than people,” writes Venkataraman Krishnan. “Innovative companies are adopting the Internet of Things (IoT) strategy and technology to rethink their products and services and redefine their relationships with customers, employees and partners.” Excerpts:

“With the number of connected devices estimated to jump to a whopping 50 billion by the year 2020, IoT technologies are expected to unlock US$14.4 trillion in value.

Collectively, the power of these technologies can be harnessed for businesses to save costs by improving operations and eliminating inefficiencies.

For ambient intelligence to really work, smart devices, smart rooms and the smart things inside them need to speak a common language.

The issues we face lie in the multitude of languages, protocols and standards, as well as the lack of agreement between each layer of the IoT.

The idea would be to develop an IoT framework that encompasses all the layers with hooks and connectors, covering all involved entities, from devices and networks to machine-to-machine and Web standards.

Although there have been several small-scale IoT deployments, many organizations are reluctant to invest in ambient computing until large-scale victories have been realized or at least proven.

However, as for intra-organizational IoT deployments, conversations with customers in other industries are in advanced stages right now.

Industry leaders are trying to establish new thresholds of performance and deliver highly personalized customer experiences, products and services. Efficiency levels are also not compromised and organizations can expect faster transformation and disruption of their traditional business models.

But until the industry overcomes this lack of collaboration, the race to consolidate standards will continue. The evolution will be around multiple standards paving the way to the best-of-breed standards.

And as always, the stakes are high for first-movers. At the rate at which digital technologies, devices, connectivity and networks are evolving, the sky is truly the limit with IoT.”

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