Until now, our industry has spoken about innovative technologies somewhat theoretically, without providing a clear picture of how these powerful new innovations will be used. This has left people without a solid understanding of how they will ultimately manifest in our work and personal lives.
Businesses are, for a large part, uninformed and risk averse towards securing IoT. Enterprise, industrial and commercial IoT is a sticking point for business, particularly in South Africa, where boards of directors and senior executives are not yet knowledgeable about the benefits. This causes them to be exceptionally averse to risk, but this is changing as younger and more informed ‘tech-savvy’ executives are being appointed to boards.
Businesses have never before been so accountable for the use, storing and handling of data. As highlighted by the Cambridge Analytica data misuse scandal, there is in intense focus currently on data privacy, data security and the responsibility of protecting one’s digital identity.
With security as the watchword at every turn and in practically every transaction in modern-day life, the unsettling reality remains that fraud, identity theft, and cybercrime are rapidly on the increase globally.
Over the past decade or so, the technology industry has transformed many things we used to buy as physical products into digital services we subscribe to or access on a pay-per-use basis. Think about how we have moved from buying CDs towards paying a monthly subscription to use Spotify, or the shift from DVDs to Netflix.