The recent advancements in technology have positively affected a lot of lives– how people communicate, spread information, and organize relevant data. This has opened the doors to the new reality, with a different human interaction to anything that has transpired before. If you’ll think about it, half of the world’s population is using the Internet, and initiatives, such as Facebook’s Internet drone, and Google’s Project Loon could connect people even more.
As we talk about how IoT technology can affect lives, it will also answer the question as to why IoT tech is going to reshape politics and economy.
How It Will Shape Politics
The Internet plays a significant role not only in governance, but in campaigns, and activism as well– social media and digital marketing are influencing politics.
As for the IoT technology, it is expected that a few years from now, it will improve the economy and bring tremendous benefits to the consumers. To make this happen, governments are slowly transitioning into new regulatory frameworks and policies on issues, such as privacy, interoperability, data storage, security, and bandwidth.
Profound changes can also be experienced in the political realm, Wherein, the availability of a wealth of data would give way to new raw material for democratic, reliable politicians when creating policies. Most political analysts will see this as the ‘upgraded’ version of the current approach, evidence-based policy. The truth is, IoT technology would increase automation, as well as real-time data processing.
Organizational Change in Politics
The Internet of Things would also affect the political process. The availability of data, combined with the increasing power of decision-making algorithms would have an impact not only on the political institutions but organizations as well– this would influence those who are involved in the decision-making process.
Furthermore, there’s also a high possibility that the policy “production” process would be reshaped. Data gathered by devices would be utilized on a constant basis, and it will provide the relevant evidence needed when it comes to creating policies or decisions.
Politicians Would Have a New Role
With IoT, there’s a great possibility that most politicians would heavily rely on unaccountable high-tech companies, which would trigger them to purchase outcomes that would be delivered through the services they barely understand.
Fortunately, this can be prevented by keeping politics in the public realm through shifting collective decision-making into a more outcome-oriented approach. Those who are elected would continue their job but would have a new role in the world of the industrial Internet.
An Improvement in Transportation
IoT technology would also affect the way we travel– think about smart cars. However, instead of solely focusing on that, let’s think about how intelligent transportation infrastructure could actually create a safer, cleaner, efficient, and cost-effective system that would lessen the occurrence of accidents and pollution.
According to a study made by the Texas A&M, it has been revealed that congestion costs around $120 billion a year, and this can be used for intelligent transportation systems instead. Aside from that, IoT technology could also have a positive impact on the car insurance industry– it will alight insurance premiums with measured risks, such as distances traveled, personal driving styles, and so on.
Which leads us to the point that once we frame the IoT in terms of systems and platforms, we’ll begin to see and understand how it’s going to shape the society.
Data and Privacy
The IoT would change the way we think about privacy. According to experts, by the year 2020, there’s a possibility that about 20-30 billion devices, and more sensors would be connected to the Internet. That means most of the major appliance, car, or gadget would be able to collect information regarding its usage and the environment. This ability will have a major impact on the marketing strategy and Digital Media Strategy of all businesses.
This brings us to the next point– privacy is not dead, but it would have various meanings. Wherein, we will have the urge to keep most things private, but it would be more challenging. Societies would also have to rethink what privacy means.
Reduction in Energy Usage
Smart sensors would be able to reduce the consumption of energy while monitoring the safety of infrastructure at the same time. Aside from that, it’s also an effective way to maximize the utilization of roads, but to make this happen, there would be a need to collect massive data. These devices will be integrated into existing traffic safety cones and other items to help autonomous cars communicate with each other and their surroundings.
For instance, to improve medical diagnostics, you’ll have to gather large data sets brought by artificial intelligence, and this would have enormous benefits for the client, but would also come with privacy implications as well.
For us to truly benefit from IoT, there would be a need for outstanding data protection systems that go beyond the laws– it should be comprised of encryption, oversight, and cyber security.
Work and Workers’ Rights
There’s no denying how technology is affecting business sectors in some ways. As of the moment, Uber may be the highest profile example of a whole new business created by IoT technology. New business models would be changing employment relationship in several ways.
As the growth of the gig-economy happens in several countries, employment rights start to weaken. There are millions of people making a living by working for a company that’s not considered to be ‘legal.’ However, they still enjoy a few of the protections regular employees have, with an added perk of Zero-hour contracts, as well as other advantages. As this trend continues, trade unions will start to weaken.
As we look ahead, we can see that the idea of increased automation of jobs may indicate that some of the today’s dangerous and hazardous situations would be handled by machines, but this would also mean a lot of people would end up losing their job. For that reason, most people would have no choice but to accept a lower wage and job security to stay in the cycle.
The Future of IoT
The truth is, combining technology with a digital connection would result in a futuristic world that we once saw in sci-fi movies. Although it may be beneficial for a lot of people, some would experience its drawbacks as well. The Internet of Things would give us a higher level of convenience, and it would change several industries and have an impact on our economy.