How are FinTechs Planning to Takeover the Financial Services Sector?

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This post originally appeared on SogetiLabs

Where a few years ago the banking and financial industry was steady as a rock, things can change rapidly. FinTechs are entering the market and let the traditional finance and banking industry shake on their grounds.

FinTech, referring to the overall definition of Financial Technology is used for start-ups, scale-ups and other companies who are using disruptive technology to change the way money is managed. Where the traditional finance industry is managed in traditional companies with a very unwieldy, inert and cumbrous IT infrastructure FinTechs will rule by flexibility, agility and disruption.

BI Intelligence made an overview of the FinTech Ecosystem and how it is changing the banking and financial industry due to disruptive technologies.

fintech

 

BI Intelligence divides the FinTech Ecosystem into six pillars, Payments & Transfers, Lending & Financing, Retail Banking, Financial Management, Insurance and Markets & Exchanges. As you can see FinTechs cover most of the traditional banking and finance value chain.

Very specific solutions in segmented markets is key. That is exactly what FinTechs makes hard to battle. They have very good ideas, products and services in a highly segmented market. Where FinTechs have more issues with the scale-up phase, the Financial Services industry have finds it difficult to be flexible and innovative. Questions which help you stay relevant for your customers can be:

  • What channels are my customers using and how can I adept these in my offerings?
  • How can new technology help my customer in money management?
  • How can we make banking as easy as transferring money?
  • How can we be innovative with products and services to enter new markets where my customer is moving to?

Bottom-line the message stays: FinTechs are taking over your market share financial industry, how are you reacting?

SMAC Your Customer with Things & Services – A historic necessity unfolds

Business Model Innovation, Business models, Capgemini, Capgemini Consulting, Carlota Perez, Digital maturity, Digital Strategy, digital transformation, Expert Connect, Innovation, Inspiring, Internet of Everything, Internet of things, IoE, IoT, Leading Digital, technology

This article originally appeared on Capgemini ‘s Expert Connect “Capping IT off” blog in the category: Digital Strategies.

This blog post is a joint effort of SogetiLabs members Jaap Bloem & Rick Bouter.

Services companies nowadays extend the customer journey with products while product brands add services to optimize customer intimacy. Either way, digital does the trick and often sensors and smartphone apps are involved to gather and deliver information and functionality. Nissan has a special smartwatch for car functions, Philips now sells the Hue personal wireless lighting system, insurers offer personalized pricing based on driving behaviour and energy companies let customers profit from smart metering. Microsoft and Nokia specialize in devices and services, from Lumia Windows phones and navigation to XBOX Music and SmartGlass. ParkMe is the largest real-time car parker in the United States delivering physical space though digital information. One of the nicest examples of how a cross-industry ecosystem of digital things and services could function is the Microsoft HealthVault vision. And Motorola makes the case for password pills, adding swallowables to wearables like Google Glass.

PICT: Personal, Intelligent & Calm Things
When Kevin Ashton, director of the MIT Auto-ID Institute, in 1999 operationalized his RFID solution at Procter & Gamble, calling it the Internet of Things, he could only have dreamed of what an adolescent Internet of Things and Services – to quote Bosch – might economically mean. From 2015 on, trillions of dollars are projected by experts from McKinsey and Harbor Research, among many others. This is Bill Buxton’s ‘long nose of innovation’ in action and that has nothing to do with lies. For technological innovation to really take off always lasts a few decades, as we know from the work of Carlota Perez.

Unspecific names are used to denote the impact of digital things and services, ranging from the Internet of Everything (Cisco) to the Industrial Internet (General Electric), the Internet of Sensors and Actuators (Vint Cerf, Google) or the Web of the World (Marc Davis, Microsoft). Germans speak of Industrie 4.0, the new wave after mechanization, electrification and information technology.

From a consumer perspective the best way to describe what’s going on around the individual would be PICT: Personal, Intelligent & Calm Things based on PICTechnology, or Personal ICT, including Near Field Computing (NFC) rings and bracelets. Three years ago, the Georgia Institute of Technology delivered an article called The Internet of Nano-Things and indeed developments coming from the Manchester UK Graphene Institute will greatly improve what will be possible with digital things and services.

A Matter of Time
Some twenty years ago, back in 1995, MIT Media Lab director Nicholas Negroponte published a book that by its title says it all: ‘Being Digital.’ One major conclusion was already drawn after the first pages:  ‘computing is not about computers anymore, it’s about living.’ Years before, in 1988, Xerox PARC’s chief technologist Mark Weiser had started to talk about Ubiquitous Computing, aka Pervasive Computing, in the slipstream foreseeing pads, tabs and boards as the computers of the 21st century.
In December 1995 Weiser and his boss John Seeley Brown published their article ‘Designing Calm Technology,’ meaning that ‘technology recedes into the background of our lives’ and that it ‘informs but doesn’t demand our focus or attention.’ Technology that is both calm, non-intrusive and pervasive won’t happen as long as we prefer rich-media tools on sensor-packed touch devices with sound recognition and 100 million apps. Smartwatches, digital tattoos or Google Glasses communicating with intelligent things, among them our smartphone and our smartphone-on-wheels – the connected car or favourite exoskeleton – of course won’t mitigate distraction.

Calm technology might well be the greatest paradox, dilemma, impossibility, and naivety on planet earth. Fact is however that ‘we shape our tools and thereafter our tools shape us,’ in particular our behaviour. Over time, we get perfectly comfortable with digital things and services aimed at enriching and improving us, yet counter-productivity keeps crawling up from behind. People and their tools, human and machine should organically coexist and every extra may well be a time-consuming threat.

Kiss the competition goodbye with SMAC: Social, Mobile, Analytics, Cloud
From a business perspective it’s all about crying for attention and persuading consumers to buy services and things. Digital arousal – calm in itself, yet very persistent and cheap – effectively leads to excited and timely satisfied customers. This dynamism is the rationale behind BJ Fogg’s Persuasive Tech Lab at Stanford University. It can however be argued that a well-chosen mix of calmness and persuasiveness yields the most durable customer satisfaction. Embracing your customers that way involves SMAC.

A proper combination of Social, Mobile, Analytics and Cloud intertwines things and services for a splendid customer experience. It’s all a matter of what Michael Treacy and Fred Wiersema in their 1997 book ‘The Discipline of Market Leaders’ brought under the common denominators of customer intimacy, operational excellence and product leadership. The authors advised executives to focus and choose, but in modern digital times there is no choice: disciplined market leaders do all three and operate on the basis of SMAC. Social is a dominant digital force from 2004 on: Web 2.0, Facebook; Mobile from 2007 on: touch devices, apps, smartphone-on-wheels; Analytics effectively from 2010 on, since the first international workshop on MapReduce and its applications; and Cloud from 2006 on when Amazon Web Services were launched.

Tipping point 2015
The tipping point is now, 2015. This moment has been identified as tipping point in the development of things and services in an unsuspicious ICT Industry Study, belonging to a set of 21 sectorial explorations, published in the Spring of 2012 by The Industrial College of the Armed Forces at the U.S. National Defense University. Their report places the Internet of Things on the following timeline:

0-18 months from Spring 2012 onward – this period now lies behind us
The focus lies on mobile computing, and we will see an explosion of smartphones and tablets. Privacy and security remain tricky issues, especially in the context of cyber security and legislation. This has proven to be correct, including all commotion around covert NSA practices.

18-36 months from Spring 2012 onward – that is the present
Internet connectivity is expanding across the economy. In 2008, there were already more digital things than people connected to the internet. Indeed we see mobile devices assuming the function of intermediary between the current internet and the expanding development of things and services.

3-5 years after Spring 2012 – thus from Spring 2015 onward
The development of the Internet of Things is ongoing, and autonomous machine-to-machine communication, in particular, is evolving rapidly. The so-called Smart Grid (intelligent energy supply through feedback loops) will further develop and internet connectivity is becoming increasingly “ubiquitous” and “pervasive” in the cyber-physical world of people, things, services, apps and websites. After the smartphone and tablet explosion, mashups of intelligent things and services will define the next stage of Being Digital.

SMACT by Jaap Bloem Vint Sogeti

Intel steps into the Internet of platforms

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NEWS HIGHLIGHTS according to: “Intel Unifies and Simplifies Connectivity, Security for IoT

  • Intel® IoT Platform unifies gateway, connectivity and security components to simply deploy IoT.
  • Designed to provide a repeatable foundation for devices to deliver trusted data to the cloud.
  • New integrated hardware and software products based on the platform.
  • Announces new relationships with Accenture*, Booz Allen Hamilton*, Capgemini*, Dell*, HCL*, NTT DATA*, SAP*, Tata Consultancy* and Wipro* to develop and deploy solutions on the Intel IoT Platform.

INTEL_04_iot-01-1-01

Intel+IoT+platform

Source: Intel Newsroom

Kevin Ashton, the man, the legend who brought us the Internet of Things

AI, Artificial Intelligence, Business models, digital transformation, Inspiring, Internet of Everything, Internet of things, IoE, IoT, Kevin Ashton, Leaders, Leading Digital, Massachusetts Institute of Technology, MIT, MIT sloan, technology

What started as a business issue, resulted in one of the most impactfull technology trends we are known with today, the Internet of Things. But what is it and who invented this term? In this article a few insights on What IoT is, and who the brain behind this vision is. If we look to the founding father of the definition: “The Internet of Things” we see Kevin Ashton. Ashton, a visionary mind who took the opportunity to change the world as we know it today. The man who changed our vision on the intertwining of physical and digital worlds. And it all started with lipstick.

Kevin Ashton

When I wrote my final thesis on the Internet of Things back in early 2013s had the privalige to interview Ashton on this topic. His idea on IoT and the further research I did resulted into my definition of IoT:

“Internet of Things (IoT) refer to the collective noun for the general idea to connect the physical to the digital via embedded technology. To receive data from all kind of smart objects from the past, the current and the future to communicate and sense or interact with their internal state or the external environment to simplify and facilitate human life, improve business processes, reduce costs and risks and raise efficiency.“ – Rick Bouter

After Cisco had a conversation with Ashton they made a small summary & infographic of his life which you can find below: “It all started with lipstick. A particularly popular color of Oil of Olay lipstick that Kevin Ashton had been pushing as a brand manager at Procter & Gamble was perpetually out of stock. He decided to find out why, and found holes in data about the supply chain that eventually led him to drive the early deployment of RFID chips on inventory. Asked by the Massachusetts Institute of Technology to start a group — the Auto-ID Center — that would research RFID technology, he found a way to talk about RFID to a less-than-computer-savvy crowd – by coining the phrase the Internet of Things or IoT. Ashton exploded the Auto-ID Center it into an international lab with 103 sponsors. After helping found a few startups, he’s “retired” into writing, with his first book, How to Fly a Horse: The Secret History of Creation, Invention, and Discovery, due out in January.” Listen to the full podcast here! Cisco Newsroom

image_gallerySources

Bouter, Rick, “Internet of Things: for business and beyond (1/2)”, Sogeti ViNT, September 25th, 2013

Many, Kevin, “Kevin Ashton, Father of the Internet of Things & Network Trailblazer“, Cisco Newsroom, December 8th, 2014

Internet of Things: Revealing the secrets of your customer needs

Business models, Digital maturity, digital transformation, Inspiring, Internet of Everything, Internet of things, IoE, IoT, Leaders, Leading Digital, technology, Uncategorized

This article originally appeared on Capgemini ‘s: “Capping IT off” blog

A future where we have more interaction with our devices then with our beloved ones? Not that I am looking forward to a future where we are more in contact with our devices then the people we love but… Imagine what insights we will have about human life, the city around us and the world we live upon.  We are trying to track these summed up items already. Just think about movements such as the quantified self, smart cities and so on. Wearable technology around, upon and in us are measuring all kinds of things we do. Cities full of sensors sensing the way people live and how to build a smart system around our lives. The reason why I ask you the question is because devices tell us more than you might think. When we translate these devices into business perspective we are going to see whole other of the customer- and client we ones knew.

“Traditional industry drivers are struggling to hold their Fortune 500 position by not knowing how to really step into the world of the Internet of Things.”

 To really understand our customers & clients we need actionable insights. Even if the IoT is ‘the insight’ promise we all waited for, you might think it is not that easy. On the one hand you are right, on the other hand you are not. The data all these connected objects and devices are giving you about your company, business processes or clients are need to be actionable. If you cannot make data actionable you can have silos full of data but it will not make any sense. To make the data actionable you need a few different elements.
  1. You need devices that monitor the inner state or external environment of the process you want to steer on.
  2. The next step is to collect and store the generated data in the cloud. The cloud is scalable, flexible, it reduces costs on your own technology infrastructure, improved accessibility and so on.
  3. After you have collect and stored the data you need to analyze it. When you analyze the collected data with specialized tools you will find out patterns and you can analyze every relation you want.
  4. Now the data has been analyzed you have actionable data about the inner state or external environment of the object you let sense
So to sum up: Generate it, distribute it, store it, analyze it, make it actionable and create insights where you can, and want to steer on to reach your business goals.And, that is what the future will be like…When re-thing the position of traditional successful companies we talked about at the start of this article it made me think. Let us think the complete opposite of a traditional company who is struggling with IoT and ask an Internet of Things start-up why it does what it does and how they are reacting on today’s market changes.For that reason I had a conversation with Steve Sanders, Director of Strategic Alliances of Buddy Platform, Inc. Buddy just has launched its new platform and I talked with Sanders on how customers of Buddy benefit of their new platform and why companies should enter the era of Internet of Things.

1. Buddy Launches New Platform today, what is it about?
Buddy Platform, Inc., has launched its new platform that hosts and manages data generated by any connected device, enabling measurement of a device from the moment it’s turned on throughout its entire lifecycle. This data, often referred to as “telemetry data,” conveys information about the performance and usage of the device, and is now accessible from any common BI tool.

2. What does this mean for Buddy’s customers?
By giving product management, engineering and support teams access to this data, and the insights that are derived from it, organizations can dramatically increase their ability to build better products and support the customers of these products in-market.

3. Why should companies step into the noisy Internet of Things technology?
Quote from Sanders:

“‘Things’ can tell you a lot about your processes. Obviously, not every company can benefit from Thingification, but many will. Ultimately, not enabling electronics, machinery, automobiles, aircraft, etc. to tell their story will be a mistake.”

 4. Why is it so important for organizations to provide, collect and analyze data?
Organizations that fail to leverage device data are flying blind. Getting IoT data into the right hands, at the right time, then doing the right things with it, can be the difference between success and failure for many business units or businesses.5. How can Buddy help them with that?
Buddy works by hosting a series of regionally sandboxed, global Buddy API endpoints to which devices can send their raw telemetry data. This data is pushed into a secure storage infrastructure called BuddyVault, whereupon it is then managed, queried and exposed back to the customer in any form they wish with BuddyView. This may take the form of integrations into common business intelligence tools, or as raw APIs that can be plugged into any customer or M2M scenario.With the addition of a few lines of code, the Buddy Platform offers the lowest overhead solution for extracting telemetry data from a device, and can make an unprecedented amount of device performance data broadly accessible to an organization, including:
  • How is this device being used? Is it performing like we designed it to, is it working as expected?
  • What error codes is my device reporting, and how is that affecting the customer experience?
  • How many of my devices are being used?
  • Where are they?
  • When are they used and how often?
  • Are they on or off?
  • How are my devices communicating with one another? If not, what’s not working?
  • How are my devices performing with connected ecosystems like smart homes or industrial infrastructure?
6. What tip you would you have for companies which wants to start in the Internet of Things segment?
Work with consultants and software vendors that are willing to “play nice” with one another, and are focused on your solution’s success as the ultimate prize.  Buddy’s CEO David McLauchlan Quote:

“Now that devices as varied as door locks, light bulbs, kiosks and cars are all becoming connected, there’s a huge amount of data that can give manufacturers exactly the information they need to support and improve their products.”

 said David McLauchlan, CEO of Buddy Platform, Inc.

“Device manufacturers are not cloud infrastructure companies. They’ve built technology into their products to control the device, but haven’t built the infrastructure to access and use the device’s telemetry data to improve the product and delight customers. Buddy makes it fast and easy to access those insights and immediately understand more deeply how customers are using these kinds of IoT devices.”

continued McLauchlan.To finish this article I would like to take you to a quote from Buddy Platform Inc. its website: Devices have a story to tell. Are you listening?” When we start listening to the devices, what they see, what they hear, what they sense, we are able to get a more and more 360 degree view of our business processes and customers. And when we really know what is going on, we can really steer on situations, processes and customer needs. When we have that we can provide everything IoT has promised us…

A business model for the Internet of Things for every CXO

Business models, Digital maturity, digital transformation, Inspiring, Internet of Everything, Internet of things, IoE, IoT, Leaders, Leading Digital, technology

A business model for the Internet of Things for every CXO

My thoughts on emerging technology

This post originally appeared on the Sogeti Labs blog

What started with a marketing buzzword has grown out to a serious question for a lot of CXO’s: “What is the Internet of Things, and how can ‘I’ benefit from it?”

Studies from Cisco, IBM, Microsoft, McKinsey, Gartner, Forrester and other companies are showing us a tremendous growth in several areas in, what we call, the Internet of Things/ the Internet of Everything. The amount of connected devices is only one of the examples which we can use to explain how fast this technology is growing. Consumers are embracing these so called wearable technology in almost every aspect of day life. Small start-ups funded by the crowd are offering all kinds of connected devices on a massive scale.

For companies there is just one question. How can I step in to this market to enhance my profit and gain market share?…

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Internet of Things: Keeping the ‘things’ relevant

Business models, Digital maturity, digital transformation, Inspiring, Internet of Everything, Internet of things, IoE, IoT, Leaders, Leading Digital, technology
This blog originally appeared on Sogeti’s technology trendlab called ViNT – Vision Inspiration Navigating Trends

When the Internet of Things arrives in massive volumes we have to review our definition of Big Data. The reason why to review this definition? A massive amount of people, animals, processes and things will be connected to the internet.

A very good question in this stadium is: “What kind of ‘things’ should be connected to make our life easier and our business processes more valuable? For example, Cisco is using the marketing buzzword, Internet of Everything. But when we look to this word in combination to relevance it is not covering the meaning of the phenomenon Internet of Things.

In my eyes, Internet of Things is about adding meaningful scenarios to our lives. Scenarios which will make our lives easier and more efficient. That is when we talk about individuals. When we talk about the industry, I think that every object that can add meaning and value to your company processes and strategy should be connected.

But now my point: “Not everything that can be connected, have to be connected.” To make lives easier, make processes more efficient and to reduce waste, it is not necessary to connect every ‘thing’ on the planet.

When we talk about Internet of Things (or however you would like to describe the phenomenon that people, things, objects and processes connect to each other and to the internet) we should think about adding meaningful scenarios to our lives and companies. When you, as an individual or as a company think about the Internet of Things and what you should connect, think about the following questions:

– “What insight do I really need to realize a future scenario that adds meaning to my company or business process?”

– “What kind of objects, people or other things should I connect to realize this information?”

– “How can these connected things add value that create competitive advantage?”

Internet of Things, once bitten, twice shy?

Business models, Digital maturity, digital transformation, Inspiring, Internet of Everything, Internet of things, IoE, IoT, Leaders, Leading Digital, quantified, technology, Uncategorized

 This blog originally appeared on Sogeti’s technology trendlab called ViNT – Vision Inspiration Navigating Trends

“In the future (the near future, not the distant future), when you walk down the street in a strange city and stumble upon something interesting, you’ll be able to “bookmark” it for later reference. Or drill down to find out the last time someone you know was here, and whether they noted it, too.”

Do you know the saying: “Once bitten, twice shy?” At the dawn of a whole new technology era you might want to use it while you still can. The Internet of Things has arrived and so have lots of possible scenarios on the future of our interaction with technology and data. Scenario’s that will add meaning to our lives and business processes.

Maybe you think the Internet of Things is nothing more then a new bubble… But it is actually quite tangible already. Bruce Kasanoff author of the book ‘Smart Customers, Stupid Companies’ gives us some examples which of what digital sensors and wired-up objects can already do in our personal lives and businesses

  • Monitor your tire pressure and avoid dangerous blowouts;
  • Analyze the gait of elderly citizens and warn of falls before they occur;
  • Follow the gaze of shoppers and identify which products they examine – but don’t buy – in a store;
  • Monitor which pages readers of a magazine read or skip;
  • Float in the air over a factory and independently monitor the plant’s emissions;
  • Prevent intoxicated drivers from operating a motor vehicle;
  • Warn a person before he or she has a heart attack;
  • Congratulate an athlete when she swings a tennis racquet properly or achieves an efficient stride while running.

As you can see, the examples of Bruce Kasanoff are quit concrete. Think about what will happen, when we place sensors and wired-up objects in our bodies, in our houses, in our companies, in our cities and in our whole society. We will be able to measure every single part of society and business insights which will create competitor advantage on both short and long term.

Companies will be able to monitor every single process. With the Internet of Things we will finally know what a product really costs. Both personal and company decisions will be based on real time information and insights. So the question is: what do you always wanted to know?

Will be the saying: Once bitten, twice shy when in our near future be past time? Read the complete article.

Smart Things need Smart Connectivity

Business models, Digital maturity, digital transformation, Inspiring, Internet of Everything, Internet of things, IoE, IoT, Leaders, Leading Digital, quantified, technology, Uncategorized

 This blog originally appeared on Sogeti’s technology trendlab called ViNT – Vision Inspiration Navigating Trends

I came across this interview from Stacey Higginbotham on Gigaom with SmartThings CEO Alex Hawkinson and I want to share some highlights.

Alex Hawkinson who has studied at the Carnegie Mellon University achieved his Cognitive Science bachelor in 1994. After that, Hawkinson has worked at different companies and also founded a few. Currently Hawkinson is the chairman and CEO of SmartThings. SmartThings makes the connection from physical objects, ‘things’ to the digital world. When you use SmartThings you can easily monitor, control and automate these ‘things’ from anywhere you want.

SmartThings, as Hawkinson describes it, has three key-pillars.

  1. A platform which realize the connection from that everyday ‘things’ to the internet
  2. SmartApps to monitor, control and automate
  3. A toolkit for makers and developers to create their own smart ‘things’.

I have written up some quotes and highlights from the interview:

On the physical graph and the cloud…

“There are a few different layers to the technology we see needing to exist making the physical graph possible. On the one hand you need to connect the everyday objects in your life and get them connected to the internet and to the cloud. So in order to do that there are a lot of different standards right now for providing connectivity to ‘things’ in the real world. Wi-Fi, (…) Bluetooth and a range of others. And all these different standards have different purposes. (…) As the first layer we needed to create a hub device. (…) And by supporting those open standards we make it possible for consumers to get any of those off the shelve objects and immediately connect them to the smart ‘things’ cloud and control them from anywhere. But on top of that we have made a developer toolkit as well.”

On privacy…

“There is definitely privacy issues. You do not want people watching you or know where you are all times. There is a huge security layer (…) There is the ability to within a household  share information or not. My wife and I are very open about sharing that but it is not available to outsiders but, we foresee privacy controls where individuals user could protect their present information from being exposed to other apps that might be running in the same household or location. (…) The community is giving us a lot of more advice.”

On the internet of things and offline networks…

That off course happens. (…) We are allowing users and developers to define the objects in the connected physical graph in the cloud. An application then, our platform a sort of automatic recognize what components can run locally at hub level. And so it can even it is completely written in the cloud it can push some rules or some of the software down to the hub level. So if the internet connection goes down the hub is still operating all of the local network between the different devices. And so it is going to be possible that for example your presence still trigger the option to unlock the door even if the connection is down at that moment those types of things. And keep in mind that a lot of these object types have a manual interaction as well so, like the light switches they work when the regular light switch. My wife does not carry a smart phone as she walks around the house and everything a sort of works the way she would expect to. And the same goes for the door locks that a sort of code you program from the cloud that it still work even if you are disconnected for a day or something like that.”

These three Q&A’s are only a small part of a great interview. You can listen to the whole podcast here on Gigaom’s website.

IoT: giving the great power of the internet to the physical world

Business models, Digital maturity, digital transformation, Inspiring, Internet of Everything, Internet of things, IoE, IoT, Leaders, Leading Digital, quantified, technology

This blog originally appeared on Sogeti’s technology trendlab called ViNT – Vision Inspiration Navigating Trends

The Internet of Things can be a vague term with even more vague benefits. Today I will show you the Internet of Things is not vague at all. No, the Internet of Things is very practical and concrete to some level already. The reason why Internet of Things can be so pragmatic already is because there are a lot of domestic applications. These domestic applications will help us with very daily tasks in the very near future.

Calm technology era
The idea behind domestic applications is, that these ‘smart’ objects make our lives easier. The expectation of this technological development is that we will enter a calm technology era. The calm technology era will not only be less immediate to us users, but will also move unneeded information to the edge of interfaces. This information is still ready for use but there will be a focus on really needed information. But is not all honey and pie. In this context I would love to add a quote of Dalton Caldwell, the Co-Founder & CEO of App.net who says in his LeWeb 2012 keynote:

“Think your email inbox and social feeds are overwhelming? Just wait…”

A lot of unneeded information will be filtered by our phones, tablets etc. but, what about the huge amount of pop ups, e-mail alerts, sms-messages, tweets, and other updates we will receive when one of our connected objects is down for a while?

IoT driven household
Now let’s talk about those domestic Internet of Things objects and devices. Personally I am pretty sure that a lot of people who are reading and talking about Internet of Things have seen the video ‘A Day Made of Glass’ from Corning. If not, be sure to do so. Future music? I don’t think so! Let me present 5 examples of ‘Internet of Things’ services which you easily can use in your house today. Like the A Day Made of Glass’ example we also start in the morning and we will walk through a day with the use of ‘Internet of Things’ services.

Nest thermostat (Video)
You want the same comfortable temperature when you wake up and walk downstairs every morning. Always comfortable and no more waste. The reason for this is your thermostat, Nest. Nest figured out that 89% of programmable thermostats waste energy. Another thing Nest found out was that a lot of people do not bother to program them. You can control Nest from you phone at anytime.

When you start with Nest you have to answer a few questions. After that, Nest will optimize itself and start learning from your temperature changes. In less than 30 minutes you can install Nest. Imagine that you never have to look at your thermostat again… If we have to believe Nest, the thermostat can also lower heating and cooling bills up to 20%.

The weather report on your toast
 
The next thing you will do in the morning after walking downstairs is turning on your toaster. (In the future your house will know how late you have breakfast and will automatically turn on.) After you have put a slice of bread in the toaster and wait for a few seconds your bread will pop out. And guess what, not only your toasted bread but also the weather report came out. Now you know also how to dress this day. The toaster ‘Jamy’ is designed by Nathan Brunstein.

Plantlink
We also do not have to worry about our plants and garden in the future. An often used saying can also be used here: “There is an app for that.” The app ‘Plantlink’ receives a message from a device near the plant when it needs water. The inventor notes:

“Plant Link is a system that monitors the water needs of your lawn, garden, or house plants. It alerts you when they need to be watered and can even water them for you.”

Control Battery-Operated Devices
In the evening you can use Tether cell. Tether cell is a control battery-operated device which can used from your smart phone or tablet.

Tether cell is a battery controller that enables you to connect to and control AA-battery-operated devices.

Ube: The Smart Dimmer
After you have controlled your battery-operated device when you lay down in bed you can use Ube. Ube is a Wi-Fi connected smart light dimmer which allows you to control your lights from our smart phone app either while you are at home or away.

You don’t buy a ‘Internet of Things’, you buy a service.

Data driven household
When we see all those connected objects in our houses we can conclude there are a lot of domestic applications ready for use. All those objects measure our way of living and will create a huge amount of very personal ‘behavioural data’. This data will not only tell us how many calories we eat, how we brush our tooth or if we buy promotions. This data will also tell us a lot more. Basically ‘things’ will come back to us. We buy objects, connect them to our household and they will tell us who we are.

Data driven business
When look further then in-house connected objects and gadgets and look at the business side of the Internet of Things: how valuable is IoT for business? When you say the examples we have discussed in this post can also be used in business I will agree with you. But, that is not my point.

When households can save 20% on energy, imagine what your company can save on company processes in the future. Right now the return on investment is concrete in households but how is that in business? If you ask me there are not a lot of great IoT solution examples a.t.m. But what does it promise?

Working more efficient, creating more value out of current processes, reducing waste and optimizing use of natural resources, these are the big promises of the era of IoT. Some people talk about IoT as the 2th renascence, we are talking about a change then, a big one…Will we see this change happening anytime soon?