Connected appliances, autonomous cars, connected healthcare etc. – the ramifications of IoT are much more than these. IoT is likely to penetrate into more familiar industries – the ones that people barely think of while thinking of technology. It opens up a host of opportunities and a potential of new threats.
Let’s take a look at some of the, perhaps unexpected ways in which IoT will influence other industries:
With IoT, connections are established between everything from wearables to cars to other smart appliances. This creates a completely new channel and screens for advertising. Smart devices also enable the gathering of more granular data on customer patterns, preferences, and movements that helps marketers tailor advertising to maximum effect and target users at the right time.
Hospitality experiences for customers
The ways in which IoT has changed travel experiences is dramatic. IoT gathers enough data to recognize customers before they check in and offer recommendations regarding food and make automated temperature settings upon arrival based on their past preferences or preferences gathered over time. IoT definitely has a great impact on the hospitality industry.
Real Estate and Smart Homes
Both commercial real estate and construction have been impacted by IoT. It enables efficient building management and enhanced tenant relationships and reduces costs over time for building management. It will also impact and improve the security of buildings. Data of the occupants of a building and real-time systems such as facial recognition could take the security of the building to the next level.
Apart from this, retail, manufacturing and financial services will also see a revolution due to the advent of IoT. With each new industry joining the IoT revolution, there will be a number of challenges too in order to manage interoperability amongst the diversity. All of these are crucial factors, but none of them pose as a hindrance for the implementation and acceptance of IoT for various industries.