The report, developed together by Wipro and non-profit organization Forum for the Future, found that although 98% of business leaders are sure that data and connectivity will contribute to a sustainable future, only 50% of them utilise them to support such efforts.
According to the study, the future vision for an IoT driven connectivity can be achieved when business leaders overcome some barriers associated with IoT, data and connectivity. Some of the barriers highlighted in the report include security risks and lack of necessary governance for artificial intelligence and IoT.
The business leaders industry experts surveyed for preparing the report have highlighted some concrete examples in which IoT, data and connectivity can help in driving a sustainable future. These examples include the use of technologies such as augmented reality and virtual reality to help in understanding global challenges and empathising in situations that are distant from the individual; and use of data to inform and empower citizens to express their views and ideas to create the future of their dreams.
Jayraj Nair, VP and global head of IoT at 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.”
Elsewhere, a report from Navigant Research projected that the global combined cumulative revenue for IIoT devices, software and services will surpass $1 trillion by 2027.