On its official blog, Microsoft has announced that the company will invest $5 billion in the Internet of Things in coming 4 years. Microsoft believes that IoT is the next big thing and can increase the productivity in the way we do businesses today.
The blog also revealed that Microsoft invested in this technology before the name IoT was given to it. They are using similar techniques in their factories, buildings and other devices from many years. With this dedicated investment in future Microsoft wants to simplify it for making it available to customers irrespective of size, technical expertise, budget or any other factors.
Future of IoT
The future of IoT looks very clear but steps from big companies can really speed up the process, as it happened with computers and internet. By 2020, Microsoft aims at $1.9 trillion productivity increase and $177 billion in reduced costs.
Also Read:How ‘Internet of Things’ Will Change The Way Of Doing Business
Companies helping Microsoft
Many companies are researching this technology currently and execution will decide the main part of implementing IoT in daily life tasks. Companies like Steelcase, Kohler, Chevron, United Technologies and Johnson Controls are supporting Microsoft in this task by launching new products based on IoT.
Challenges for IoT
Each implementation is bringing a unique transformation. The challenges of both customers and manufacturers are kept in mind while starting something like this. IoT is all about data and the current world situation is very critical in terms of data. It is better to prevent any violations than facing difficulties later. Machine learning, AI, security and privacy are the main points to consider before implementing IoT.
Effect of Microsoft’s investment on future of IoT
This announcement from Microsoft can do wonders for the startups working in this industry as such things give a big boost to the market and investors also show interest in new and profitable businesses. Currently, IoT is seen as a sophisticated technology which can be used y only educated people and simplifying this for everyone will be the most difficult part.
