A new report from research firm McKinsey projects that IoT technologies will have an economic impact between $3.9 trillion and $11.1 trillion by 2025.

IoT TECHNOLOGIES WILL CREATE AT LEAST $3.9 TRILLION IN ECONOMIC VALUE BY 2025: A new report from research firm McKinsey projects that IoT technologies will have an economic impact between $3.9 trillion and $11.1 trillion by 2025.

That gulf in the potential value that McKinsey forecasted is because of the variety of factors that could play into the IoT’s economic impact. For instance, 40% of the potential economic value of IoT technologies (about $4 trillion) can only be realized if the issue of interoperability – enabling different IoT devices from different providers to communicate and share data – is resolved, McKinsey said. There are several different standards for interoperability being developed by different companies and consortiums, but no universal standard has emerged that would create that value.

Another major issue that will determine how much economic value is realized from the IoT is the ability to collect, aggregate, and analyze data from various IoT devices and systems, according to the report. The vast majority of the data coming from IoT devices and systems is not collected at all today, and the data that is gathered isn’t fully exploited, McKinsey said. For example, McKinsey found that only one percent of the data being generated from the 30,000 sensors on one offshore oilrig was being analyzed for decisions. The more data that is captured and analyzed from IoT technologies, the more economic value will be created.

The areas where the IoT will have the greatest potential economic impact will be in manufacturing, cities, and healthcare, according to the report. Manufacturing accounted for about a quarter of McKinsey’s overall estimates for economic impact, with the sector creating between $1.2 trillion and $3.7 trillion in value from the adoption of IoT. Cities will gain between $900 billion and $1.7 trillion dollars in value, and the healthcare sector will have an impact between $200 billion and $1.6 trillion.

BI Intelligence estimates that the adoption of IoT technologies will have an economic impact of $1.7 trillion by 2019.

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Father’s Day Reminds Me What Matters Most

Father’s Day gets me every year.
I am reminded just how much I love being a Father.
Without fail, the Father’s Day gifts I treasure the most are the ones hand-made by the kids.
This year’s gifts included personalized books highlighting just how much they know about me and what they love about me.
My 7 year-old does a great job highlighting what he views me spending most of my time doing.

Sorry Son, you have my spelling genes.

Image translation:
Golfing= Golfing
Wereking= Working
Playing ternements= Playing in (golf) tournaments
Looking at his foine= looking at his phone

 

Great penmanship

Great penmanship

My 9 year-old is amazed by my ability to read and write Hebrew. It is nice to know that all those years of learning Hebrew is good for something; if not impressing my daughter!

Epson’s smart glasses are for tech-loving mechanics

For the mall-pounding public, smart glasses are a hard sell. The combo of dorky looks and, well, lack of actual need has strangled the few attempts to commercialize them. Epson (of printer fame) thinks trade and industry is where the market/money is, and is adding another smart headset to its professional-friendly range. The Moverio Pro BT-2000 (yah, really) is based on Epson’s existing BT-200 model, with a more rugged design and a juicier specification. This time around, Epson is tempting engineers with a 5-megapixel stereo/3D camera with depth sensing, head tracking and support for augmented reality, like if Dickies made HoloLens.
Factories and workplaces of the near future, at least those with the BT-2000, would have engineers sharing what they are doing, beaming images directly to other headsets for remote viewing — be it for training or remote support (thanks to WiFi and Bluetooth conenctivity). Or, working on a tricky motor, with the schematics or next step right there in your peripheral vision. The Android-based software also adds scope for custom applications, plus there’s support for voice control. There’s no word on price, so we can’t say if there’s scope for consumers to consider them as an industrial-strength alternative to Google Glass (stranger things have happened). We’ll also have to wait until the autumn release to see if the big world of business bites too.

http://www.engadget.com/2015/06/23/epson-bt2000-smart-glasses/?ncid=rss_truncated

I would appreciate hearing your thoughts on the + or – impact this will have on storytelling and publishing.

I would appreciate hearing your thoughts on the + or – impact this will have on storytelling and publishing.

One of the hottest new categories of software development revolves around virality prediction. That is, determining what stories and social media trends are about to go viral.

On Wednesday, Google tossed its hat into the ring by expanding Google Trends and introducing real-time trend information — a tool that could change the way researchers and media channels deliver reports and stories.

SEE ALSO: Silicon Valley: There’s a case for Google buying Twitter

The real-time data tool gives users access to the roughly 100 billion monthly searches performed on Google. Available in 28 countries, the tool also merges information culled from Google News and YouTube to form trend reports.

To help explain some of the reasoning behind devoting so much attention to the area of data-driven storytelling, the Google News Lab team posted a video featuring journalists from The New York Times, Vox, ESPN’s FiveThirtyEight and ProPublica, all explaining why data-driven journalism is important.

http://mashable.com/2015/06/17/google-real-time-trends/?utm_cid=mash-com-Tw-main-link

Reflecting on the last ten years…with gratitude.

Ten years ago I wrote down a goal that at the time seemed both attainable and important. Tomorrow I turn forty, an age that seemed so far away at thirty . The twists, pivots, peaks and valleys comprise ten of the best years of my life and even though I didn’t hit my goal, I have an incredible feeling of accomplishment.
Six things I learned in my 30s
Personal
  • There is no reason for the cell phone to be at or near the dinner table. Engaging with your family during dinner will generate some of your best memories from your thirties.
  • Trust your instincts.
Friends and Family
  • When people say “it all goes so fast” they are speaking the truth. You won’t really understand that until the end of your thirties.
  • Appreciate it all, the peaks and the valleys…especially the valleys.
Regarding Business (and running one)
  • A business is either growing or contracting. The key is to identify which one it is and manage it with purpose.
  • There are two types of people in business, those that strive to be the star player and those who thrive being on a winning team. Create a culture where team is more important that star.
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