A: One concern is protecting privacy. There's a balancing act of figuring out what the consumer wants and what is an acceptable level of information to gather. The customer may appreciate the company recognizing a hardware problem with the device and automatically sending a replacement part, but some consumers may be concerned if their smart refrigerator is communicating all the different food that has been RFID-tagged or scanning UPCs as they are put in the fridge so the company can order new food automatically.
If a company is gathering information, storing it, and acting on it, the customer will want to know what information is being gathered. Companies can mitigate this concern by providing clear and robust guidance on what data is being collected and why and what is not being collected, and then giving control to the user about whether or not they want to share that data.
Historically, something that has slowed implementation down is the fact that the technology infrastructure wasn't as standardized. Maybe systems weren't interoperable initially. But that's now starting to go away as companies can use standardized, commoditized technology that drives much of the rest of the internet. Costs, which used to be prohibitive, are going down as well. In addition to this effect of Moore’s law, where costs automatically decrease over time, IoT platforms can be subsidized by other companies because they can drive new revenue streams.
Challenges also occur surrounding content and data management. There's the device, the sensors, and the network, but it needs content and data and to deliver the experience. and Being effectively able to centralize that information and do it at scale, both gaining insights in the data and then intelligently getting experiences that are consistent across the other touchpoints that you may have with that customer, is an important part of an IoT system.
That is one element that organizations are always struggling to do better. They’re trying to rationalize these different touchpoints across the broader set that they're working with. And that's where the centralization of content and data and making those experiences and data unified is a key challenge.
Another challenge IoT systems face is the lack of a consistent network around the world. You can’t go anywhere and expect to be connected at the same bandwidth. That’s a problem that can be solved as network connectivity improves globally.