Third industrial revolution: IoT

Third industrial revolution: IoT

14-Nov-2014 by AleixValls

Everyday Objects are getting “smarter” and they are starting to get connected between each other which contributes the creation of new business and services.

There is a huge market for these new solutions. If today we are taking about millions of connected devices, in the future, this number could be multiplied by a thousand or even a million. Maybe even more. Accenture recently conducted a study which predicted 69% percent of consumers will own an n-Home IoT Device by 2019.
Eben Upton, co-founder of the Raspberry Pi Foundation behind the popular minicomputer, talked about the potential of the concept of the Internet of Things. Even though this minicomputer which costs only about 35 euros was conceived to promote education in the programming field in the United Kingdom, it soon attracted the interest of a multitude of hackers who saw in it the perfect medium to connect devices in new and interesting ways.

Surely the potential of things getting smarter is huge, but quite incredible, this is the tip of the iceberg of the real changes. We are witnessing the development of a new third industrial revolution.

To carry out a revolution requires a paradigm shift in three key areas: a change in the way we communicate, a change in production capacity and a change in the socio-economic models. Today’s society already has these three elements: mobile internet, desktop manufacturing (from mass production to production by the masses) and the change of the concept of property that represents the collaborative economy, where the real value is access, not the ownership.

We are facing a unique opportunity thanks to a hyper knowledge-based society. A society that values being able to access a service or product and does not care about owning it. A society that is not capital intensive anymore. And in this new stage, the entrepreneur is the new leader, the who draws and designs the future as companies follow. This is the real revolution of the internet of things.

Aleix Valls, Director of Entrepreneurship and Innovation at Mobile World Capital Barcelona and Director of 4YFN

Flickr Picture attribution: Mike dmje