The Internet of Things (IoT) is taking the internet into everything that impacts our lives – from engineering to health, infrastructure, agriculture and more. It is the future of digital connectivity, data accumulation and system efficiencies, but implementation requires sound strategy with a balance between innovation, opportunity and risk.
KPMG views IoT as an opportunity for Australian technology companies, industries and entrepreneurs to be a leader in the development and execution of innovative IoT applications. The potential economic, social and environmental benefits from effective IoT solutions are vast. However IoT developments must focus on security, privacy and trust, to ensure the safety of the IoT ecosystem and its users.
Drawing on our deep industry, technology, policy and analytics insights, we can assist organisations to better deliver safe and effective IoT solutions. We can help with new markets, strategy and implementation, security, data analytics, local and international policy, growth plans, revenue, tax compliance and more.
In a world where the IoT dominates and everything is connected, profound opportunity exists for businesses, along with considerable risks. Companies across all industry segments and in particular manufacturing, automotive, energy, telecommunications, retail, banking and insurance, transportation and agriculture industries will all be disrupted. In this article series, we explore the barriers to success and unlock the opportunities that IoT presents for businesses.