During the Technology Leaders Summit which was held this week in the Silicon Valley we discussed how the Internet of Things will change our everyday life.

We have moved from an era of scarcity to computing abundance. Some may say that the Internet of Things will play a limited role in this new scenario. However there are certain trends that will make IOT a long lasting revolution that will affect all sectors.

Just to list three of the main trends:

  1. Hardware and Enhanced Power Sources: amazing (and cheap) devices are increasingly available, with more manageable (and long lasting) power sources.
  2. Harmonization: we are finally witnessing concrete efforts for standard uniformity, as the main players have a now a clear understanding that this is the way forward to ensure a steady growth.
  3. Behavioral Patterns: there are increasing expectations to control things around us. Third (and fourth) generation mobile communications, mobile apps and other consumer friendly technologies are making such control tremendously easy (and in fact certain tech appliances are also a cool thing to have!).

IOT created a new ecosystem, in which the current and more popular technology applications, like for instance, the systems for the delivery of health care in non-traditional sites or for using energy in a more efficient (and cost effective) manner, are just a tip of an iceberg. IOT is in fact fostering new ways of collaboration, including IOT specific open sources initiatives, as well as new problem solving methodologies that place once again big data in the center of the arena.

How such big data are processed, retained and regulated will no doubt play a key role for the future of IOT. As was discussed during the event, cybersecuriy has become increasingly important for the development of IOT: there are a number of service providers that have the capability to connect things, but do not have the right expertise to ensure that the data interchanged are kept secure.

It will be very interesting to assess whether the industry is able to adequately address the security concerns on its own, or a top down approach is required. This of course will be extremely interesting also for Italy, where, in addition to achieving the objective of the digital agenda (IOT needs customers online!), our regulators will have to reach a balance between functionality, market growth and security.