How IoT is unlocking cash
Imagine a world without human intervention.Your home appliances will be synchronised and connected with your voice for activation. Your car self-drives you to the comfort of your home, and the moment you enter home, your car signals all sensors to activate, hence, your wardrobe pulls out your casual dress to relax after office-hours and microwave warms up food for you. Smart healthcare devices that monitor one’s health and trigger timely alerts for medical attention. The list is endless.
Going by what we have been experiencing in terms of adoption of new technology in Dubai, the time is not too far when residents here will be experiencing the lifestyle we see in sci-fi films – thanks to fast adoption and quick implementation of the Internet of Things (IoT) we might see in the near future because industry estimates show that IoT will contribute billions of dirhams to the country’s economy in the next few years.
Adel Belcaid, principal for the Middle East at AT Kearney, said IoT has the potential to contribute $45 billion (Dh165 billion) to the UAE economy by 2025 with nearly 60 per cent of contribution coming from transportation and logistics, public administration, healthcare, housing and construction, retail and wholesale and utilities. He believes that connected objects will help people spend less on their day-to-day lives; as such, GCC residents’ purchasing power will increase by $35 billion, while enabling them to spend on other objects that can improve their quality of life. Read more…
