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22 January 2020

Just 20 years into the 21st Century, we have already seen remarkable changes that we could never have anticipated. We’ve come up with 20 predictions that explore what the next 20 years may have in store for your organisation.

Prediction 7

We will see significant growth in connectivity options and speeds as IoT – connecting smart devices and enabling them to share and combine data – continues to develop.

Almost everything around us will soon be connected, driving data analytics capabilities for organisations that provide unique insights, deliver efficiencies, identify new opportunities based on customer need and inform a strategic approach using a holistic data source.

However, as connectivity and data explodes, security will become ever more paramount. And while today this remains an unregulated industry – security issues such as data leaks, hacking and the inability to identify devices are currently unresolved – blockchain will in the future offer an infrastructure of trust and security.

Blockchain provides a trusted and immutable view of data that can be shared and relied upon by multiple entities, with no requirement for a central trusted party. Smart contracts enable confident execution of code and business rules that are reliant on this data without any need for human intervention.

As organisations and interactions shift towards a distributed enterprise model, blockchain will continue to offer a reliable and trusted interaction layer, especially with an ever-increasing number of IoT-enabled devices and sensors.

Blockchain and smart-contract platforms will support device-to-device communication and reliable decision making in real-time. This will create new value creation opportunities and drive automation-based efficiencies, unlocking the potential of micro-transactions and trigger-based events across all facets of daily life.

Trends in blockchain, IoT and the security of connected devices

Impact

In the short-term, we will see a greater set of applications for IoT and sensor arrays that support predictive analytics and new value creation opportunities.

Over time, this will create autonomous and self-governed interactions between systems, sensors and other devices that support most day to day activities – including self-driving cars, automated location- or event-based payments, and drone delivery services.

As new smart devices become available, from smart fridges to real-time health monitors, the value of IoT will grow in whole new areas.

Curious to find out what else could happen between now and 2040? Read our other predictions

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