The internet of Things (IoT) will soon become critical to helping New Zealand raise its productivity and prosperity, says NZTech chief executive Graeme Muller.
Much of the hype around IoT has been derived from consumer items such as fitness trackers and intelligent fridges. The real value to be had from the internet of Things is in enterprise and government applications, Mr Muller said.
A research project is under way to better understand the potential benefits (and risks) of IoT for the New Zealand economy. The project, managed by NZTech, brings together major tech users, tech firms, the Government, academia and industry groups such as TUANZ and internetNZ, all which have an interest in the potential impact of IoT for New Zealand.
"Fast broadband is becoming more widely available, the cost of connecting is decreasing, more devices are being created with wi-fi capabilities and sensors built into them, technology costs are dropping, and smartphone penetration is sky-rocketing.
"Putting all these rapid developments into the mix is creating a perfect platform for IoT to take off," Muller said. "This is why the research project and a better understanding of how to apply IoT are needed.