Where the Internet of Things is Headed
In technology, there are few buzz terms that capture the public’s collective imagination as intensively as the “internet of things.” Yet, as the IoT market matures and grows, two main lingering questions remain: what is its real potential and how can technologists get there? To find out, we spoke with two of the most qualified individuals in the Hyde Park Angels network to answer the question.
Hardik Bhatt (HPA Member, CIO of the State of Illinois, and former Senior Director for Internet of Everything at Cisco) and Rohit Pasam (Founder and CEO of HPA Portfolio Company Xaptum) shared their predictions for the future of the Internet of Things and the mindsets innovators need to adopt to succeed. The two also presented their forward-looking views of what an IoT Revolution would look like in the next ten years.
https://www.youtube.com/watch?v=KJThjjbfSXw
However, to get to that future, we first have to start with the present. As Rohit put it, all the real opportunities that exist in IoT today are “more about creating demand for a product that does not exist and creating demand for a lifestyle that does not exist.” Simply, to truly arrive at “the future of IoT,” we have to be thinking about that future now and imagining what it would like, as opposed to just trying to incorporate it into present-day products and practices.
Hardik added, “If people only keep focusing on building sensors and building analytics in the cloud, you’re missing the big piece.” The “big piece” is the connection point between the sensors to the cloud. At Xaptum, Rohit is developing that connection point to allow connected devices to communicate with each other and essentially develop the internet for things.
By building this infrastructure, both Rohit and Hardik believe that IoT can reach its future potential, reaching broadly across healthcare, water management, and even education. A true network for data and devices will fundamentally change the role IoT plays in the world, elevating it beyond experimental projects and select physical products to a powerhouse with the ability to tangibly improve human lives.
“The IoT Revolution, played right, would be bigger than both the Industrial Revolution and theInternet Revolution, because, in IoT, the industry is actually adapting the internet. That’s how it’s going to multiply the positive effect on mankind,” said Hardik.
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