The staggering speed at which Technology has permeated into every aspect of our lives and work, today, it’s impossible to imagine that there are more connected and digital devices than people. Today, technology has gone truly global. One billion people in the world are using four billion connected things (IoT 2016). We call this IoT – internet of things.
We are living in “smart” cities, booking “Smart cabs” ordering “Smart groceries” and sleeping to “Smart ACs”. Everything from homes, cars, watches and appliances are now “smart devices”. And consumers have begun to expect such dynamic connectivity and “on-demand” services across all industries, be it Travel, BPO, Retail, Manufacturing, Transportation and others. It’s safe to say that companies today are all ‘digital’ entities or rather technology companies.
So what marks the ‘gold’s rush’ in technology? From ‘big data’, ‘cloud computing’, Mobility and IoT to cognitive computing – these are the technology must-haves for smooth handling of processes, optimal efficiency and flexibility to accommodate market changes. While some have managed to utilize them exponentially in their businesses, others are trying. The data generated from these connected devices, discussions and machines is enough to create big opportunities and even bigger challenges.
Who’s got the customer? Big data, Internet of Things (IoT), cloud-based computing, and predictive analytics are driving customer behavior and new market products and services. IoT’s rapid digitization of physical things or machines as connected smart devices is rapidly impacting business models, service offerings and customer expectations. According to McKinsey the impact of the Internet of Things (IoT) industry could equal about 11 percent of the world’s economy in 2020. Let’s look at some recent numbers:
- The global spending on the Internet of Things (IoT) security will reach $348 million (roughly Rs. 2,321 crores) in 2016 a 23.7 percent increase from last year (roughly Rs. 1,877 crores), (Gartner report).
- Spending on the IoT security is expected to reach $547 million (roughly Rs. 3,648 crores) in 2018.
Technology has multiplied the number of points of interaction and supplied businesses with a depth of information data. Businesses frequently have to rethink their strategies and business models and seek opportunities to innovate and improve their operational performance. As a critical driver of global trade organizations constantly need to adapt to new business technologies, customer services and an increasing demand for quality, security and cost efficiency. Example, the move from on-premise to SaaS is driving the need for new business models, focused skills and capabilities. The cost savings created by technology can further be reinvested in newer technologies or smarter strategies. Like Mobile that plays a stellar role in apps and real-time dashboard and alerts that are increasingly crucial in timely management and reducing error.
IGT Mobility suite has a wealth of options tailor-made for airlines, hospitality, cruises and other providers. IGT Mobility CoE experts develop mobility solutions can help manage irregular Flight Operation. Such an airline mobility solutions can integrate crew assist technologies, with predictive analytics and infotainment options using an architecture that is linked to distributed intelligence.