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New report envisions the connected IoT future of 2030 and barriers to adoption
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PR Newswire
NEW YORK, Nov. 15, 2017
Report by Wipro Digital and Forum for the Future finds that 98% of business leaders see IoT contributing to sustainable future; but only half are taking action
NEW YORK, Nov. 15, 2017 /PRNewswire/ -- Wipro Digital, the digital business unit of Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), released a new report titled "Vision 2030: A connected future" that highlights the opportunities that experts and business leaders see for data and connectivity in creating a sustainable future. The report, jointly developed with Forum for the Future, an international sustainability non-profit organization, outlines a future vision for Internet of Things (IoT) driven connectivity and highlights the barriers that need to be overcome to realize this vision.
One of the findings of the report is that while 98% of business leaders surveyed see great potential in data and connectivity and strongly believe it will contribute to a sustainable future, only half use data and connectivity to support such efforts. Vision 2030: A connected future recommends actions to close the gap between awareness and action.
Jayraj Nair, Vice President and Global Head of IoT, Wipro Limited said, "IoT, data and connectivity are changing the way we live and work – disrupting industries and reshaping the social landscape. To ensure these advances have a positive impact on the future, grow our economies and drive sustainable efforts, we must successfully and efficiently harness these technologies. The Vision 2030 report imagines a world where we can do just that, and offers suggestions on how to make those visions a reality."
Concrete examples of where business leaders and industry experts imagine IoT, data and connectivity driving a sustainable future include:
- Open data infrastructures: platforms that offer access to various kinds of data are essential for enabling better data flows and collaboration, data integration and the meaningful analysis of data.
- Cross-department collaboration: encourage collaboration and sharing of projects as well as budgets across departments such as Operations, Supply Chain, Marketing, Research & development, etc.
- Data integration: information generated through the connection of various data sources offers the incentive to link silos and drive exponential innovation.
- Digital citizenship: a public movement that uses data to inform and empower citizens, and enable them to express their voices and ideas to shape the future they want.
- Tracking for transparency: new data monitoring technologies and distributed databases can increase the reliability of data flows, leading to increased digital trust, robust decision-making and transparent supply chains.
- Globalizing empathy: New technologies such as Augmented Reality (AR) and Virtual Reality (VR) may enable people to better understand global challenges, and engage more deeply in situations that before felt far away in terms of location and lifestyle.
According to the report, in order to achieve this future, business leaders must see beyond operational efficiency and overcome the significant barriers impeding IoT, data and connectivity from enacting a positive impact, some of which include:
- Security risks: digital security and privacy issues are inhibiting people, businesses and governments from releasing their data.
- The digital divide: access to technology and data skills are not being shared equally between demographics and geographies.
- Potential for a rebound effect: as the availability of data-enabled products and services grow exponentially, so too does the corresponding energy demand and electronic waste production.
- Lack of common tech standards: since advances in technology often happen faster than legislation can keep up, there is a lack of necessary governance for technologies such as artificial intelligence and IoT.
Jonathon Porritt, Founder Director, Forum for the Future said, "A brighter, fairer and more prosperous future for all is within reach if we can unleash the system change potential of IoT, data and connectivity. It is up to every business and government body to decide whether they want to work within systems that are open, transparent, democratic, connected and collaborative - or stick to more isolated, closed ways of working that definitely do not help any forward momentum towards a more sustainable society. Our aim is to provoke thoughts and provide ways for companies to achieve a not-too-distant future that is connected, sustainable and prosperous."
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Methodology:
The research was made up of qualitative interviews carried out by Forum for the Future with industry experts, and a quantitative survey.
The interviews were held with external opinion formers, including designers, data experts, entrepreneurs and think tanks, to explore the opportunities for – and the barriers to – driving a more sustainable future through data and connectivity. The experts also provided additional contextual understanding of future impacts and challenges, as well as offered some provocative and forward-thinking insights.
The survey looked at how business leaders perceive IoT, data and connectivity's potential for helping to create a more sustainable future. During the research, 250 C-suite executives and Vice Presidents, who were responsible for data and connectivity/IoT, data analytics, innovation and sustainability, were asked about the opportunities and barriers they see for IoT, data and connectivity to drive sustainability. The respondents were based in the UK or the US and represented the following five sectors: consumer packaged goods (43 respondents), manufacturing (55), utilities (30), agribusiness (30), multinational tech industries (57), and local/central government (35).
The full report is available at wiprodigital.com.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 160,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
About Wipro Digital and Consulting
Wipro Digital and Consulting collaborate and iterate with clients to deliver customer-centered digital and business transformation. Working at the intersection of strategy, design and technology, we derive insight, shape interaction, drive integration and unlock innovation for our clients. As an agile, hands-on consulting partner, we help our clients respond to the new digital world order at a pace and scale aligned to their objectives: from operations to technologies to people. We apply Customer Journey Engineering to create extraordinary experiences for global brands, businesses and their customers at scale. Learn more at wiprodigital.com or @WiproDigital.
About Forum for the Future
Forum for the Future is an international non-profit working with business, government and civil society to solve complex sustainability challenges. We believe it is critical to reinvent the key systems we rely on to shape a brighter future and innovate for long-term success.
Forum for the Future has a 20-year track record of working in partnership with pioneers such as Unilever, PepsiCo, Skanska, AkzoNobel and Telefonica O2. We advise and challenge these organisations, both in one to one partnerships, and also as part of multi-stakeholder collaborations to address system-wide challenges.
Forum for the Future's Technology Catalyst work stream explores the impacts of emergent and disruptive technologies, and the potential to harness its power for the environment and society.
Forum for the Future was voted one of the world's leading sustainable development NGOs in the 2016 Globescan/SustainAbility Sustainability Leaders Survey.
Find out more at www.forumforthefuture.org and follow us on Facebook, Twitter and LinkedIn.
Media Contacts:
Prathibha Das
Wipro Limited
Prathibha.das@wipro.com
Brianna Rabe
Ruder Finn on behalf of Wipro Digital
+1 (203) 246-1304
rabeb@ruderfinn.com
George Harding-Rolls
Forum for the Future
+44 (0) 7769 357 098
media@forumforthefuture.org
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf. http://www.wipro.com/industries/retail/insights/research/
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