Jason Hope, an entrepreneur and futurist, believes that the Internet of Things (IoT) is the future that the world has been anticipating. He says that the future is here with us since we no longer just use smartphones to access the internet. Other devices that enhance communication between individuals have been manufactured. This new technology is creating opportunities in different industries, including the health care and retail. Looking into the near future, Jason said that devices would be functional if embedded with sensors, electronics, software or any related connectivity. He added that devices that will not have these connections would be considered obsolete.
The use of mobile payment will gain huge acceptance with companies like Apple and Google making innovations in the industry. It is odd how people still stick to physical credit cards and cash when technology has offered more options. The money payment industry will experience more innovations. Jason Hope commented that the recent Apple Watch launch targeted less people, but sought to establish the company’s IoT ecosystem where they seek to occupy every part of a consumer’s life. For instance, when Apple launched Apple CarPlay, the technology had been accepted by all main automakers, especially those who integrate i0S with their automobiles. However, Apple declined numerous integration proposals from automakers since they were targeting to create one centralized system to serve a wider market.
The healthcare industry has the most IoT potential. Researchers anticipate a $117 billion IoT market by 2020. Already existing devices like health trackers can only monitor few activities since they are not fully coordinated. The rapid occurrence of IoT will only be sustained with net neutrality. If net neutrality is not addressed, IoT could stop or be slowed down. Since the US technology is driven by startups, IoT will be a huge opportunity for startups and companies like Apple. For instance, Apple is in the process of creating a centralized system for healthcare, but only time will tell how quickly the society will adapt to these advances in technology.
Jason Hope is also a philanthropist and investor. He is a graduate of Arizona State University and ASU’s W.P. Carey School of Business where he earned a degree in finance and an MBA respectively.