5 Reasons Why Governments Should Create IoT strategy

Internet of Things (IoT) can be defined as a system of computing devices, digital machines, people or objects that are interrelated and interconnected through the Internet. They are provided with unique identifiers and have an ability to transfer data or information over a network without requiring human-to-human or human-to-computer interaction.

The ‘thing’ in Internet of Things can be an automobile with built-in sensors to alert the driver if the pressure of the tires is high or low, a washing machine sending a text when washing is done, a person with an implant, farm animals or pets with a biochip transponder, etc. The ‘thing’ can be any man-made or natural object which can be assigned an IP address and provided with the ability to transfer data over a network easily.

Why Should Governments Create IoT strategy

Internet of Things has immense potential to affect the way we live and work. It is a growing phenomenon and it will pave way for some great innovations. This is exactly why governments must create national strategies to mine the benefits of IoT. Let us look at five reasons why governments should put serious effort into creating national strategies for Internet of Things.

  1. Regulations To Support Innovation: If the regulations are poorly designed, they will greatly slow down the progress and growth of Internet of Things. By designing a national strategy, it is possible to avert such problems by making it clear to the regulating bodies and legislators that the technology of IoT is important and how over-regulation may hinder with its growth. National strategies can also identify opportunities to expand the use of the IoT. Not only will this move support innovation, but help in realizing the true potential of IoT.
  1. Give Public Sector a Boost: There are a number of facets of Internet of Things that needs to utilize public goods that cannot be adequately provided by the private sector. By developing a strong national IoT strategy, it could be ensured that the public sector can provide the required public goods, such as human capital, funding for R&D and radio spectrum, which the private sector cannot provide. This helps in giving the public sector a boost.
  1. Minimize the Uncertainty: Let’s be honest, IoT isn’t an established model yet, which is why there will be skepticism around it. Businesses and local governments will tend to question its potential and won’t try to adopt the technology quickly. Through national strategies, governments can help the IoT ecosystem to develop and eventually mature. It can minimize the risk and uncertainty that come along with it.
  1. Assist in Gaining Global Competitive Edge: Internet of Things provides a great international platform and presents innumerable opportunities for businesses to gain advantage in the global market. This advantage won’t just benefit the organizations but also the country’s economy. Well-designed strategies will help businesses grab opportunities, which otherwise wouldn’t have been possible, and directly contribute to country’s growth and progress as well.
  1. Inter-Operability Between the Public and Private Sector: The private sector can take the responsibility of developing and adopting the standards for the Internet of Things. At the same time, standards coordination holds importance in public-sector applications. National strategies created by the government can help in identifying key areas where increasing inter-operability would increase public benefits from the Internet of Things.

Different industrial sectors such as supply chain management, agriculture, manufacturing, health, household living and transportation are being transformed by the Internet of Things. By stepping in, governments can accelerate this process by designing effective national strategies that could greatly benefit everyone who uses it.

About the author:

Kevin Patel is a Service Assurance Technology Analyst at Xangati. A self-proclaimed tech geek, with a passion for the ever-changing world of virtualized and hybrid-cloud environments. Kevin has a passion for dissecting tech topics such as virtualization, data center migration, storage, networking and cloud. On his days off, he can be found watching sci-fi movies, rock climbing or volunteering.