Nobody knew how 2020 would end when it started. The coronavirus pandemic has forced businesses to adopt digital transformation more than ever before. The number of businesses that have moved online in the past few months alone is more than those in the last decade. There’s a lot at stake for 2021. The question is whether mainstream technologies such as data analytics and AI will remain a force. Or will we see newer forms of technology dominating the year? Here is one such possible technology trend that will dominate 2021 and beyond.
Internet of Behaviors (IoB)
While IoT is constantly evolving and expanding both in complexity both in terms of how devices are interconnected with each other and types of computations to store data.
What’s next ? how to turn data gathered into Something Useful to Business.
Ravi B R, Engineering Manager
This question is answered by an emerging new trend called the Internet of Behaviour(IoB) : extends internet of Things(IoT).
What is IoB?
IoB is an upcoming trend that you’ll hear more of in coming years. Companies and businesses are taking advantage of technology to monitor consumer and customer behaviors. Some of the effective technological tools here include location tracking, big data, and facial recognition.
Gartner predicts that by year-end 2025, over half of the world’s population will be subject to at least one IoB program, whether it be commercial or governmental.
The IoB refers to a process by which user-driven data is analyzed through a behavioral psychology perspective, with the results of that analysis then informing new approaches to how to design the User Experience (UX), Search Experience Optimization (SXO), final products and services offered by companies, and how to market them.
The IoB can become a powerful new marketing and sales tool for businesses and organizations around the world. Using this tool, you will gain a deep understanding of your customers, which is necessary for every business.
Organizations use this data to influence human behavior. For example, to monitor compliance with health protocols during the ongoing pandemic, organizations can leverage IoB via computer vision to see whether employees are wearing masks or via thermal imaging to identify those with a fever.
In order to leverage IoB, businesses need to invest in IoT deployments, data management infrastructures, and Artificial Intelligence (AI) solutions, Security and Privacy, to be poised to analyse and extract meaningful behavioural insights from the data.
IoT is converting data to information. Now it’s time for translating information to the knowledge of us into real wisdom using IoB. IoB applications can realise a wide variety of convenience and efficiency services to users and businesses. However, they come with a set of technical and societal challenges that need to be addressed for the IoB to earn the trust of individuals and businesses.
Watch out this space for more on upcoming technology trends and how it can impact business!!