We’ve posted several earlier articles on the Internet of Things (IoT). Smart products are moving into the mainstream and bringing radical new possibilities. The Economist Intelligence Unit (E.I.U.) projects the disruption will match that of the Internet 20 years ago. When will business feel the benefits? Cognizant with the E.I.U. has surveyed over 200 organizations at the vanguard of smart products, and the unequivocal answer is now.
Organizations that are embedding smart technologies into products and operations are already changing their business models, establishing new product categories and new channels, re-inventing customer relationships and growing market share. How? Through the data they collect. They’re driving a new economy we call the Smart Product Economy.