Report by Wipro Digital and Forum for the Future finds that 98% of business leaders see IoT contributing to sustainable future; but only half are taking action.
Wipro Digital released a new report titled “Vision 2030: A connected future” that highlights the opportunities that experts and business leaders see for data and connectivity in creating a sustainable future.
The report, jointly developed with Forum for the Future, an international sustainability non-profit organization, outlines a future vision for Internet of Things (IoT) driven connectivity and highlights the barriers that need to be overcome to realize this vision.
One of the findings of the report is that while 98% of business leaders surveyed see great potential in data and connectivity and strongly believe it will contribute to a sustainable future, only half use data and connectivity to support such efforts. Vision 2030: A connected future recommends actions to close the gap between awareness and action.
Jayraj Nair, Vice President and Global Head of IoT, Wipro Limited said:
“IoT, data and connectivity are changing the way we live and work – disrupting industries and reshaping the social landscape. To ensure these advances have a positive impact on the future, grow our economies and drive sustainable efforts, we must successfully and efficiently harness these technologies. The Vision 2030 report imagines a world where we can do just that, and offers suggestions on how to make those visions a reality.”
Concrete examples of where business leaders and industry experts imagine IoT, data and connectivity driving a sustainable future include:
- Open data infrastructures: platforms that offer access to various kinds of data are essential for enabling better data flows and collaboration, data integration and the meaningful analysis of data.
- Cross-department collaboration: encourage collaboration and sharing of projects as well as budgets across departments such as Operations, Supply Chain, Marketing, Research & development, etc.
- Data integration: information generated through the connection of various data sources offers the incentive to link silos and drive exponential innovation.
- Digital citizenship: a public movement that uses data to inform and empower citizens, and enable them to express their voices and ideas to shape the future they want.
- Tracking for transparency: new data monitoring technologies and distributed databases can increase the reliability of data flows, leading to increased digital trust, robust decision-making and transparent supply chains.
- Globalizing empathy: New technologies such as Augmented Reality (AR) and Virtual Reality (VR) may enable people to better understand global challenges, and engage more deeply in situations that before felt far away in terms of location and lifestyle.
According to the report, in order to achieve this future, business leaders must see beyond operational efficiency and overcome the significant barriers impeding IoT, data and connectivity from enacting a positive impact, some of which include:
- Security risks: digital security and privacy issues are inhibiting people, businesses and governments from releasing their data.
- The digital divide: access to technology and data skills are not being shared equally between demographics and geographies.
- Potential for a rebound effect: as the availability of data-enabled products and services grow exponentially, so too does the corresponding energy demand and electronic waste production.
- Lack of common tech standards: since advances in technology often happen faster than legislation can keep up, there is a lack of necessary governance for technologies such as artificial intelligence and IoT.
Jonathon Porritt, Founder Director, Forum for the Future said:
“A brighter, fairer and more prosperous future for all is within reach if we can unleash the system change potential of IoT, data and connectivity. It is up to every business and government body to decide whether they want to work within systems that are open, transparent, democratic, connected and collaborative – or stick to more isolated, closed ways of working that definitely do not help any forward momentum towards a more sustainable society. Our aim is to provoke thoughts and provide ways for companies to achieve a not-too-distant future that is connected, sustainable and prosperous.”