Important IoT Trends That Will Transform Business in 2019-converted Important IoT Trends That Will Transform Business

Top IoT Trends Influencing Business in 2019 and Beyond
2018 has been an exciting year in the Internet of Things (IoT) space as we have seen a true transformation and many exciting
developments. We have observed that so many industries are now investing in IoT and leading industries are quickly
implementing IoT solutions. Other than special IoT devices, consumer products like wearable and connected electronics are
also part of this huge market. As per an estimate, more than 80 % of IoT spend through 2020 will be on B2B applications.
That’s why IoT will be one of the main drivers of the digital transformation in 2019 and beyond.
Many big companies are hiring IoT Developer and creating self-learning environment using IoT. This will also drive digital
revolution in the physical world as well. With IoT, new business models will emerge and there will be significant changes in
work processes, productivity front, cost reduction and improved customer experiences. Keeping all of these things in mind,
I will now discuss the important and main IoT trends which will lead the market in 2019 and beyond.
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Cognitive Computing and AI
Cognitive computing and implementation of AI technology will also be the key trends in 2019 and beyond. The IoT
is right now at the critical juncture of tremendous growth and opportunity. Till now we have seen connected things
with unique IP addresses but due to advancement in sensors, processors and memory now we are not seeing
everyday things just connected but intelligent too. Cognitive IoT, AI and machine learning are enabling enterprises
to unlock greater IoT value. Cognitive systems are not explicitly programmed but they learn from interactions with
the people and from experiences with their environment. Hence they are able to keep pace with the complexity
of IoT and identifying data correlations which otherwise was not possible.
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Blockchain Solutions Technology
In 2019, Blockchain will play a major role as it enhances security, makes transactions more seamless and reliable
and creates efficiencies in the supply chain management. It looks like in coming years we will see companies to
start leveraging blockchain in mainly three ways i.e. building trust, reducing costs and accelerating transactions.
Blockchain for IoT can transform the way business transactions are conducted globally by providing a secure and
trustworthy environment. Blockchain transactions are automated and encoded and enterprise level privacy is
maintained while security is provided for all the parties involved. With implementation of IoT in blockchain,
information from IoT devices will be used in transactions. These blockchain based solutions help organizations in
improving operational efficiency as well, transform customer experience and adopt new business models. All of
this is done in secure, private and decentralized manner.
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More Adoption of Digital Twin
Digital twin is a key tool to improve operations with digital data. Digital Twins are great next step in the IoT space.
In a world where software is used at so many places, digital twin technology will help organizations bridge the gap
between the physical and digital. Digital Twin is like a glass to look into what’s happening with physical assets. They
also give insights into the changes required for the future. Ultimately, the digital twin will accelerate the product
development timeline at a reduced cost as it allows the product developers to create, build, test, monitor, maintain
and service products in a virtual environment.
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Higher Security