According to a new report by Vodafone, more than half (58%) of business leaders in the UK believe Internet of Things (IoT) technology is ‘vital for success’.
Vodafone also learned that 64 per cent of all respondents believe IoT will improve their business operations and 62 per cent believe that every business stands to benefit from this technology.
IoT can drive innovation and value within an organisation, helping it to achieve operational efficiencies, build more valuable relationships with its customers and facilitate entirely new business models – Enteprise Director @ Vodafone
At a time when there are new technologies emerging every day, the Internet of Things is still the evident favourite to transform the way that businesses operate. Why then, are so many businesses holding back in their IoT efforts? Well, it seems that a lack of understanding is the answer here – with 41 per cent of business leaders concerned that IoT is too complex for their business.
So, with so much potential in IoT, we have to hope that businesses get their head around the concept before it is too late and I, for one, am interested to see how the space develops.