Return on Intelligence observes and is helping clients and customers take advantage of a set of independent and individually transformative technology revolutions that have come together to create tectonic impacts in business. These revolutions include the Internet of Everything (IoE), Social Media, Mobile technologies, big-data driven Analytics and Cloud technologies: I-SMAC.
As these technologies have matured and intertwined they have “crossed the chasm.” Companies taking advantage of them are creating new industries, new markets and new wealth.
In the insurance industry, just as we’ve begun the transition from mass-market underwriting based on collective histories of loss patterns to premium discounts based on miles driven we are leaping forward to personalized, near-real-time underwriting, billing and claims based on actual and current driving data. Its the computers in the cars, sending data via the cloud, to sophisticated analytic engines that present an offer, or a bill, to a client’s tablet or smartphone, the same device the client used to find the new arrangement using social media.
In the industrial setting companies like GE are building the “industrial internet,” linking together the myriad machines, sensors, controllers, and ancillary devices within and across facilities, up and down the production chain, inside and outside GE’s corporate borders. Across the globe electric utilities are combining the Internet of Everything with sophisticated analytics, and mobile devices in the hands of engineers, linemen, municipal officials and customers to deliver Smart Grids.
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