How fast can we go?
Warp-speed digital
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—Shaun Andrews, Chief Marketing Officer & Executive Vice President, Lumen
a larger, bigger purpose.”
Help them understand that they’re part of
Change, even good change, can be scary.
As businesses adopt more agile cloud-computing tools and connected software systems, advanced A.I. will also play a major role in factories and across supply chains, as well as in offices and retail service settings. For instance, in stores and online, A.I.-embedded virtual assistants will be able to integrate customer data into their predictive capabilities to give customers exactly what they want, when they want it. And whether their employees are in offices or working from home, companies will be able to drive productivity and innovation with highly collaborative software, more reliable networks, and uninterrupted virtual meetings that keep teams in sync no matter their devices or locations.
Just a few years ago, a smart speaker that could play your favorite songs on command may have seemed impressive, but the Internet of things has undergone massive upgrades since then. And in the near future, a vast network of connected devices, sensors, and robots will take the possibilities of IoT even further—communicating seamlessly with one another to record and transfer data, provide new business insights, improve efficiency, and help companies make better decisions.
With so much innovation just over the horizon, the market for IoT devices is expected to surpass $176 billion by 2022, according to Market Research Engine. By connecting these devices to key business processes, companies can save money and boost productivity in a multitude of ways. Retailers, for instance, will be able to use IoT technology to provide customers with new conveniences that strengthen and improve their relationship with the brand—whether it’s in-store checkout options that don’t even require customers to take out their wallet or in-home devices that monitor a loyal customer’s supply of a product and place timely orders to keep it replenished.
But in order to tie all of these devices together, this supercharged new iteration of the IoT will require faster and more reliable networks than ever before. This will be made possible by a powerful technological advancement known as edge computing, in which data is processed on the devices themselves or nearby—at “the edge” of the network—as opposed to the old method that required data to be collected and sent into the cloud to be processed.
“Data today is being created at the edge, and it’s staying at the edge,” says Savill. This is especially important in situations that require a very rapid response time—like advanced robotics control, for example. “Take a scanner conducting an optical read to make a decision about where to push the device next,” says Savill. “That kind of operation and control requires tighter latency and performance.”
According to Savill, low-latency fiber connections, like the ones developed by Lumen, could be used across the nation to tie together various cloud networks—including edge clouds—to offer the kind of performance a leading business needs.
The Internet of things
Although the technology that will power the 4IR is developing exponentially, just as Kurzweil predicted, its adoption by consumers, governments, and businesses faces various potential delays—including cybersecurity threats, skepticism among consumers and employees, government regulations, and economic constraints.
Given the popularity and cultural impact of dystopian fiction like George Orwell’s 1984 and sci-fi movies like The Terminator, it’s not surprising that most Americans worry about the invasive nature of new technologies, especially a lack of privacy and security online. In fact, according to a study by Intouch International, the number may be as high as 90%. And according to a 2019 CNBC poll, 27% of workers worry that robots threaten their jobs.
According to Shaun Andrews, chief marketing officer and executive vice president of Lumen, the onus is on business leaders to establish a compelling vision of the future and communicate how people and machines will partner to create better outcomes. Because 4IR technology ushers in new ways of living, working, and operating businesses, Andrews recommends that companies involve their employees in the transition early on. “Change, even good change, can be scary,” he says. “Help them understand that they’re part of a larger, bigger purpose.” For instance, he says, it’s important to emphasize the ways in which 4IR technologies will make employees more productive and their jobs safer, as well the upskilling opportunities that will arise that will help them and the organization.
Companies that embrace 4IR technologies today are the ones that will thrive tomorrow—whether that means deftly managing their computing power across various connected networks, for instance, or continuing to run efficient automated factories despite COVID-19 lockdowns. “When COVID hit, the factories that had high reliance on human labor were hurt, but those that had built next-generation technology were able to operate much more easily,” explains Savill.
Given the size and scope of the process, a true digital transformation requires that businesses stick to a multiyear strategy that involves its suppliers, distributors, employees, and customers. Technological advancement will continue at an exponential pace, and the Fourth Industrial Revolution is a mandate that companies cannot simply ignore. To get started, Andrews says, “Start with a really solid, bold vision and purpose, but one that’s real and attainable. Pick one that’s bold enough that it starts to scare you, and then quickly go from that high-level purpose to an executable plan.”
Speed bumps
Way back in 1999, in his book The Age of Spiritual Machines, futurist Ray Kurzweil argued that “the Law of Accelerating Returns” means that technological progress will grow at an exponential rate, building upon previous iterations of itself in a way that’s similar to biological evolution—but at a much, much faster pace. Just two decades later, the truth of this profound insight is abundantly clear, and now it’s time to buckle up—because the speed of technological innovation will only accelerate from here.
This is the dawn of the Fourth Industrial Revolution, or 4IR, an era of unprecedented technological innovation that will include the rapid development and adoption of artificial intelligence, robotics, the Internet of things (IoT), and much more. These developments promise to have an incredible impact on all aspects of human life—from our daily routines to our relationships to the way we conduct business. In fact, four out of five senior information technology decision-makers believe that a century’s worth of technological advancements will take place in just the next five years, according to the Global Poll: Impact of the 4th Industrial Revolution by Quadrant Strategies. Indeed, 87% believe that the Fourth Industrial Revolution will lead to the most substantial advancement in interconnections between both people and businesses in the history of the world.
“With IoT, machine learning, video analytics, and robotics automation, the technology is starting to manifest itself into real-world experiments,” says Paul Savill, senior vice president of products and services at Lumen, an enterprise technology platform that enables companies to capitalize on emerging applications and power 4IR.
And those real-world experiments are producing real-world results.
One of the 4IR’s most important and rapidly developing technologies is artificial intelligence (A.I.). Working in combination with smaller, cheaper, more flexible sensors, improved A.I. will catalyze the future, powering devices that will be able to gather and analyze information in previously impossible ways. In certain situations, it will actually make decisions for us—some trivial, some that could literally save lives.
In the medical field, sensors powered by A.I. will be able to collect a patient’s data and use real-time predictive analytics to flag potential problems with the patient’s temperature or breathing, for instance, before they escalate. On busy roads, traffic signals will be able to automatically anticipate and respond to heavy amounts of traffic, keeping cars flowing at efficient speeds—and keeping their occupants safer. And in office buildings, video A.I. analytics will be able to monitor foot traffic in the lobby, allowing employees to enter the building based solely on visual identifiers, while enhancing security as well.
Artificial intelligence
billion by 2022.
The market for IoT devices is expected to
”
The rate of technological growth is accelerating exponentially, reaching its fastest pace yet in 2020. And it’s just getting started.
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In July 2020, Lumen sponsored the “Global Trend Report: How the 4th Industrial Revolution is Changing IT, Business and the World.” It is based on a Quadrant Strategies online quantitative survey with close to 1,200 senior IT decision-makers, including C-suite executives, from large and midsize organizations in the U.S., U.K., Germany, France, Australia, Argentina, Colombia, Brazil, Singapore, and Japan.
The market for IoT devices is expected to surpass
$176
SOURCE: MARKET RESEARCH ENGINE
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When technology pushes us to the edge
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understand that they’re part of a larger, bigger purpose.”
In July 2020, Lumen sponsored the “Global Trend Report: How the 4th Industrial Revolution is Changing IT, Business and the World.” It is based on a Quadrant Strategies online quantitative survey with close to 1,200 senior IT decision-makers, including C-suite executives, from large and midsize organizations in the U.S., U.K., Germany, France, Australia, Argentina, Colombia, Brazil, Singapore, and Japan.
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