Entrepreneur and self described futurist Jason Hope gave his thoughts on what would come from technology in the next few years and how he thinks the world will be affected by it, “The future isn’t coming, The Internet of Things is already here. We’re no longer just accessing the Internet with our smartphones. Devices are now communicating with the manufacturer, consumer and/or other connected devices. This is opening up new and exciting possibilities in health care, retail and more.”
Mr. Hope’s statements are not without their merit. Many believe that within the next five years or so, it is a very really possibility to say that if a device is not embedded with electronics, software, sensors or some kind of connectivity then it will be considered to be outdated. It will be the modern equivalent of what a VCR cassette player or a chorded phone is in 2015, a thing of the past.
According to some, this year is the year that the mobile payment industry will start to become a far more mainstream industry. Recent figures show Apple AAPL -0.18% in the market and Google is looking to be making strides within the field, the industry looks to be in store for continued innovation within the field. Physical credit cards and cash are still how most people go about paying for things, but they are steadily losing their popularity. The reason for this is there are much simpler and more efficient options available for people. Healthcare has probably the most IoT potential. A $117 billion market is projected for the IoT in healthcare by 2020.
It is a thrilling time for the tech world indeed. Internet of Things pioneering is occurring quite quickly. However, there is a threat of all of that innovation being put to a halt or significantly slowed down if net neutrality is not addressed and made a high priority. Jason Hope had his words on this as well, “U.S. technology is driven by start-ups. It’s a bottom up industry that requires that access to tools be made as widely available as possible.”