The Internet of Everything (IoE) is touted as the next big thing in technology. Tech pundits, Silicon Valley executives, entrepreneurs, and government officials predict that IoE will be a "multi-trillion dollar business," which has the potential to transform our physical world.
While some are waiting for this revolution, we recognize that the winds of change are already here. IoE is creating unprecedented opportunities for organizations, individuals, communities, and entire countries to realize significant value from the increased connectedness. At Cisco's IoE Value at Stake Roundtable today, expert panelists discussed the ways in which IoE can specifically benefit the public sector. Based on a Cisco study, we estimate that the IoE offers$4.6 trillion in value to the public sector through reduced costs, increased productivity, improved citizen experience and new sources of revenue.
Specifically, the Internet of Everything can:
Numerous examples around the world are testament to the ability of IoE and how it is transforming government organizations.
At its core, the system relies on technology leaders in the public sector to take initiative toward implementing the practices and processes that include IoE. It is time for leaders to "act" rather than "react." They must determine a vision for their organization and identify opportunities to establish an "IoE culture." The benefit of IoE is derived from the compound impact of connecting people, process, data and things, and the value that this increased connectedness creates as "everything" comes online.
As we begin 2014, let's keep IoE in mind. And also the fact that when you combine the$14.4 trillion of potential value in the private sector and the$4.6 trillion in public sector applications, IoE is a$19 trillion opportunity for businesses and governments globally over the next decade.