The Internet of Everything (IoE) promises to open up massive opportunities for businesses and society, from the ability to tap into new business models, to making commuting easier for citizens.
To date, we have seen double-digit growth in the IoE divisions of most organizations, Industry 4.0 successes, and positive social impacts with early smart city projects. Connecting people, processes and systems in a massively scalable way is enabling a limitless new vision of what can be done to solve a long tail of problems – big and small, local and global, across all types of personal, societal and business scenarios. And, it is just the beginning.
However, it creates a series of challenges too; challenges which will affect every organization and individual on the planet.
For organizations to thrive in the connected world, they will need to create and maintain an exceptional level of situational awareness, understand the fast-changing landscape and have the agility to respond appropriately. They will need new tools and new organizational and business models.
Through talking to industry innovators working at the forefront of IoE, the TM Forum Open Digital/IoE Steering Group collaboratively created a ‘roadmap of challenges’. The dynamic and emerging nature of the IoE landscape means that this is a ‘working list’ that will inevitably evolve over time.
A key takeaway from the collaborative effort is that there’s no “end-game” – no end state for IoE, no ultimate set of business or consumer products. Instead the three pillars of IoE – business models, market expectations and technical capabilities – keep changing. We need to understand and accept that this is how it is and how it’s going to be, then adjust our thinking and adapt.
The Top 20 Challenges
Over the following few weeks, we will look at each of these challenges in more detail.
Through TM Forum’s Open Digital Program, we are tackling these challenges head-on via tools such as our Digital Services Toolkit; proof-of-concept Catalysts; B2B2X Partnering Guide; new ways of modeling business scenarios, platform and digital services architectures; Open APIs; collaborative projects; and more. Find out more and get involved.