The IoT in 2018: Four reasons to excited, four reasons to be worried
Results will demonstrably lag IoT hype, leading to an IoT winter of disfavor
In the 1980s, the artificial intelligence industry succumbed to what’s become known as the AI winter when AI companies were unable to convert promise into reality. The IoT could well face a similar dissipation of interest if enterprises, venture capitalists, and industry experts see a lack of real progress despite years of promise.
A possible warning sign lies in a recent McKinsey survey of 50 executives in organizations that have all launched some enterprise IoT initiative. According the study, executives noted multiple capability gaps related to some of the most promised features of enterprise IoT applications (Figure 12). The question remains, how long with corporate executives tolerate an inability to integrate IoT applications into business work flows, harness data, and provide useful results.
Figure 12. A McKinsey survey of executives notes significant capability gaps in IoT implementation. (Source: McKinsey & Company)