Internet of Things (IoT)
"Our bottom-up analysis for the applications we size estimates that the IoT has a total potential economic impact of $3.9 trillion to $11.1 trillion a year by 2025. At the top end, that level of value—including the consumer surplus—would be equivalent to about 11 percent of the world economy.”
"Cisco CEO John Chambers says a new tech market is coming that will generate an astounding $14 trillion dollars in profits over the next decade: the Internet of Things (IoT)."
"New "Industrial Internet" report from GE finds that combination of networks and machines could add $10-15 trillion to global GDP"
Industry analyst Gartner recently arguing that the “Internet of Things” is at the top of their “Hype Cycle”.
“The current amount is growing at about 28% per annum. The global enrolment of IT students will need to double between 2012 and 2025 – that requires an annual growth rate of about 5.54% per annum. The only solution to this growing disparity in analysts vs. data is in creating ‘smarter’ analytics”
“There will be a shortage of talent necessary for organizations to take advantage of big data. By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills, as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions.”
"...this approach requires far less in the way of resources, particularly with respect to personnel but also hardware and software resources, and therefore costs, than traditional methods of supporting data integration."
“Cognitive computing refers to the ability of automated systems to handle conscious, critical, logical, attentive, reasoning modes of thought. Semantic computing facilitates and automates the cognitive processes involved in defining, modelling, translating, transforming, and querying the deep meanings of words, phrases, and concepts. Semantic computing is what natural-language processing, the heart of cognitive computing, is doing.”
"Computers are on the threshold of reading and understanding the semantic content of a language, but not quite at human levels. But since they can read a million times more material than humans they can make up for that with quantity.”
“IBM’s CEO, Virginia Rometty, said in October last year that she expects Watson to bring in $10 billion in annual revenue in 10 years…”
“Cognitive computing systems learn and interact naturally with people to extend what either humans or machine could do on their own. They help human experts make better decisions by penetrating the complexity of Big Data.”