In the next three years, the Internet of Things is going to drive the greatest business transformation, enable the next indispensable consumer technology, and drive the greatest benefit to life, society, and environment – according to KPMG’s global survey which captured the opinion of over 750 tech leaders.
IoT is predicted to drive business transformation, and enable the next indispensable consumer technology by 17% of respondents, according to KPGM’s The Changing Landscape of Disruptive Technologies. Tech disruptors outpace the competition. 14% think it will drive the greatest benefit to life, society and environment.
The worldwide IoT spending is going to total $1.1 trillion by 2021, according to IDC Worldwide Semiannual Internet of Things Spending Guide. The UK, Japan, US, and China will be leading this trend.
Top Benefits of IoT are said to include improved business efficiencies, increased profitability, and cost reductions. The main challanges comprise technology complexity, risk management, and security.
Artificial Intelligence was the second ranked game changer expected to transform the business world over the next three years. The leading markets include US, Japan, India, UK, and China. The worldwide spending on congnitive and AI systems is expected to reach $52.2 billion in 2021.
The industries that will experience the greatest disruption or transformation over the next three years include media, automotive/transportation, and healthcare.