More than half of major new business processes and systems will incorporate some element of the Internet of Things (IoT) by 2020, according to Gartner, Inc. The impact of the IoT on consumers’ lives and corporate business models is rapidly increasing as the cost of “instrumenting” physical things with sensors and connecting them to other things — devices, systems and people — continues to drop.“Uses of the IoT that were previously impractical will increasingly become practical,” said W. Roy Schulte, vice president and distinguished analyst at Gartner. “The IoT is relevant in virtually every industry, although not in every application. There will be no purely ‘IoT applications.’ Rather, there will be many applications that leverage the IoT in some small or large aspect of their work. As a result, business analysts and developers of information-centric processes need to have the expertise and the tools to implement IoT aspects that play a role in their systems.”Gartner has made four more predictions for the IoT: Through 2018, 75 percent of IoT projects will take up to twice as long as planned.Gartner expects three out of four IoT projects to face schedule extensions of up to 100 percent with the consequent cost overruns. The more ambitious… Read full this story
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