How nations can ensure IoT success
- By Derek Major
- Dec 18, 2015
What: “Why Countries Need National Strategies for the Internet of Things,” a report by the Center for Data Innovation that discusses the importance of broad, holistic strategies to direct development of the IoT.
Why: For the global public sector, the Internet of Things has the potential to generate $4.6 trillion by 2022 by increasing employee productivity, making military defense systems more effective, reducing costs, improving citizens’ experience with public services and increasing government revenue. A poorly designed strategy, however, could lead to market failures, a restrictive regulatory environment and unequal distribution of the benefits the IoT can provide.
Findings: While there is no uniform approach to developing a national IoT strategy, all national strategies must include a broad array of policies that focus on:
- Funding research and development as well as pilot projects.
- Public-private partnerships for civic projects as well as best practices and standards development.
- Agency actions that revise funding policies to support development, make “smart” the default for government operations and support data science skills in education.
- Regulatory actions that address spectrum management, consumer protection, support for innovation and accessibility concerns.
- Trade policy that ensures data exchange freedom, adherence to industry-led standards and promoting access to the best and most cost-effective connected devices and services.
Takeaway: Each nation must develop a strategy that promotes development and adoption of the IoT while limiting regulatory barriers that restrict its growth. In that environment, the IoT is positioned to deliver substantial social and economic benefits.
Read the full report here.
Derek Major is a former reporter for GCN.