Internet of Things will influence several verticals in India
The public and media arm Geospatial World recently had an interview with a partner of McKinsey & Company, Indraneel Banerjee. During the interview, Mr Banerjee said that the automobile industry would create 46% of the value from both connectivity and the Internet of Things.
Mr Banerjee also thinks that the Internet of Things will play a crucial role to address socio-economic issues all over India. The most persisting problems in the country revolve around hunger and food. On top of that, 30% of the food chain usually gets destroyed during the post-production period. Banerjee also stressed the fact that India produces the second largest food products in the world.
It is only the 150th of a supply chain that comes to the general public of the country. Better quality of education and health care will uplift the population of urban poor with the help of the Internet of Things’ self-learning facilities. These are the spheres that will go through a massive and radical change once the Internet of Things becomes mainstream.
Banerjee also pointed out that the country is currently facing some challenges while adopting the Internet of Things. The Artificial Intelligence creates legal, commercial and ethical impact around the users for bringing productivity cost, profits as well as resources efficiencies to the businesses.
And this brings forward the need to have the ecosystem that brings like-minded corporations together. A massive ecosystem will provide use cases which would unlock the potential of carrying out multiple things. Even the corporations across India are thinking about bringing different policies forward to make sure that the Internet of Things will benefit the country in whole.
Banerjee also talked about the persisting security issue. When it comes to addressing security issues, India cannot be seen in the sphere. India still doesn’t realise how much information it provides to its people and the world, even in the IoT-driven world. But the prospects suggest that there is room for improvement and in the near future the country will see things the way things have always been.
**This post was published on https://www.geospatialworld.net
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