What will the internet of things look like in 2022? New functionality and markets were projected in the 2021 prediction, including convergence with AI advancements to make devices smarter and broader use by manufacturers. Is it smooth sailing from here on out now that the technology has been established, business models have been validated, and consumer and industrial user appetites have been whetted?
If only it was that simple. Because the stakes are great and the problems are numerous, 2022 is likely to be the year when IoT becomes extremely complicated.
In 2022, keep an eye out for the following six IoT trends:
1.Increase of remote monitoring
Remote monitoring and control automates the large and complex processes and controls IT systems. They comprise a combination of digital and mechanical components that can jointly capture, analyze and take action based on a higher volume of information.
The remote monitoring system comprises a combination of sensors, central computer systems, network connections, and actuators.
The monitoring systems observe and record data about any condition, such as temperature, through the sensors and control system maintain or change the state of the conditions through the use of actuators. The users can monitor the temperature through a connected device from a different location and make any changes on the device.
2.The growing popularity of privacy-enhancing technology (PET).
Do cybersecurity and privacy costs curb IoT innovation? 2019 will focus on solving privacy and security issues with technology solutions, rather than advancing weak and general rules that treat all organizations equally. “One possible solution is to encourage the use of privacy-enhancing technologies,” wrote Harvard Business Review. “PET, which has long been endorsed by privacy advocates, helps balance the trade-offs between data utilities while maintaining privacy and security.” PET has differential privacy like Apple, Includes homomorphic encryption used by Google. Another option is to isolate sensitive information, store data outside the corporate system, protect privacy, mitigate risk, and allow data to be used.
3.Regulation: Examine the fine print.
2018 marks the introduction of several new privacy rules, from the California Consumer Privacy Act to the European Union’s General Data Protection Regulation. California’s strictest legislation will not come into force until 2020, but it will have widespread implications for other parts of California, and it is expected that all businesses will need to read the fine print. EU regulations, which came into force in 2018, specified how personal data was collected and stored, but also emphasized that it did not prohibit the sale of the data itself. For example, the EU states, “If the data used for AI is anonymized, the GDPR requirements do not apply.” The title of the fact sheet, “Mythbusting,” issued by the European Commission in January 2019, supports this statement and dispels rumors that the GDPR will hinder the innovation of artificial intelligence. Companies need to scrutinize the law, which can force some companies to adjust their business models.
4.IoT and workforce management tools provide new data.
According to Gartner, by 2024 70% of firms will have integrated AI to help employees be more productive. According to Gartner, a quarter of digital employees will utilise virtual assistants on a daily basis. Now that IoT systems can track productivity and employees, new privacy concerns have arisen. Individual privacy, including Social Security numbers and HIPAA data, will need to be protected in the collecting, distribution, and analysis of data by businesses.
5. A greater desire to sell data.
As the amount of data collected grows, so does the urge to monetize it. Vizio believed it had a fantastic business model: sell its flat-screen TVs at break-even prices and then make money by selling consumer data. Oops. Vizio will pay an estimated $17 million to settle a data-tracking complaint, after already paying a $2 million punishment to the Federal Trade Commission. Vizio does not have to stop selling data, but it must be more upfront and provide customers with clear options. For organisations like Vizio, a secure data transmission that protects the data’s functionality while not revealing compromising or sensitive information is a better option.
6.An increase in the number of hacks and the amount of money spent on cybersecurity.
Have you heard about the family in Orinda, California, whose Nest security camera alerted them to a possible ballistic missile attack? Although the threat of physical violence from North Korea may have been fictitious, the hack nonetheless unsettling. With billions of linked devices on the market, the rewards for data theft will continue to rise, as will investment in hack protection and damage mitigation. In 2021, an estimated $124 billion will be spent globally on data security. Companies are seeking for solutions to protect their user data and reduce their risk as cybersecurity costs climb.