For Businesses: The internet of thinking is how all these different intelligent technologies change how consumers interact with a business or any other entity. With the increased expectations of instant feedback, companies need advanced computing power.
For People: The internet of thinking is how all these different intelligent technologies together change how consumers interact with a business or any other entity. With the increased expectations of instant feedback, companies need advanced computing power.
The past ten years were all about Cloud computing, which allowed enterprises to host extensive data securely in the cloud, accessing it on demand with large data processing capacity. Processing of the data is moving closer to where the action is, edge computing. The processing power of the semiconductor chips needs to increase to keep up with the demand. Companies need to reinvest in infrastructure and create partnerships to increase their capabilities and improve the consumer experience.
In other cases, less ‘urgent’ data continues to be processed in the cloud where multiple data sources are combined, resulting in updates to algorithms that are then pushed out to the consumers. Enterprises need to focus on what computing power is required as they will need to prioritize what needs to remain in the Cloud vs. in the Edge.
As companies become part of their consumers’ daily lives, they need to develop different trust levels with end-users. According to Elise Cornille, Accenture Managing Director, Technology Marketing & Communications, ‘with innovation comes obligation.’ Companies gather massive amounts of data about their consumers, and any misuse of this data could be very damaging to any company’s reputation.
Social Media companies like Facebook, Google, and Twitter have found themselves in the middle of heated debates about the permissible use of data gathered on their platforms. To combat these challenges, large social media giants are working together to create a new social media contract and are shaping government policies protecting the consumers.
Public Health and Safety has been at the forefront, especially this year, with the ongoing spread of Covid-19. The Singapore government has taken many steps to protect their citizens and avoid the spread of the virus. As the virus can be spread through asymptomatic carriers tracing has become a big challenge. Once individual tests positive, what is the most effective and efficient way to trace all the places visited and people contacted?
Singapore’s Contact Tracing App connects intelligent technology to drive the desired outcome: reducing the virus’s spread through QR Codes.
Lifestyle companies continue to dominate the Internet of Thinking. Amazon, a major lifestyle brand player, continues to be at the forefront of innovation through the smart application of the latest technology, becoming a leading lifestyle brand for consumers.
In 2014 ‘Amazon ALEXA‘ was launched, a virtual assistant using AI technology. She can hear and respond to voice commands. Applying voice recognition Alexa finds music, turns the lights on/off, changes the room temperature, and numerous other manual tasks.
In 2017 the company launched Amazon KEY, which uses connected technology to allow delivery drivers to leave packages inside a home rather than on the porch exposing packages to thieves and the elements.
In 2020 Amazon launched ‘Amazon GO, a supermarket with no cashiers. Customers download an app on their smart device, enter the store by scanning their App, fill their basket, and leave using the ‘Just Walk Out Technology.’ The shopper receives an itemized receipt, and their Amazon account is charged as they leave the store without having to stand in line waiting to be checked out. Amazon uses advanced technology like deep learning, sensor fusion, and computer vision to create the internet of thinking supermarket ecosystem.
The fast advancement of interconnected intelligent technology that improves consumer experience and delivers real-time data through edge technology comes with heightened social responsibility. Companies that get it right and embrace the obligation and responsibility that comes with having ‘unlimited’ access to consumer’s lives will be winners of consumer loyalty for the unforeseeable future.
Technology is everywhere, and to satisfy consumers’ need for instant feedback, companies face the challenge of bringing relevant and timely insights to consumers at a moment’s notice.
On the spectrum of personal health technology, ranging from wearables to implants, a new entrant will revolutionize how we monitor our health: biosensors printed directly onto the skin.
The Agriculture and the farming industry is going through a significant transformation. Abandoning traditional farming practices, the agricultural industry is embracing digital connectedness and data. Increasingly, they are building an ecosystem of smart farms.