As more devices are connected to the Internet, we are on the threshold of a wave of progress that will be likened to the industrial and information revolutions.<\/p>\n
This is according to Telkom\u2019s group chief operations officer Brian Armstrong, who was speaking at\u00a0SATNAC 2016.<\/p>\n
Armstrong warned that the benefits of this may carry a cost if appropriate steps aren\u2019t taken, though.<\/p>\n
This includes unsustainable growth models, skills disruption, and a potential impact on social cohesion.<\/p>\n
Although growth is good, Armstrong said the current approach of \u201cgrowth at all costs\u201d must be assessed.<\/p>\n
Not all companies can achieve billion-dollar valuations in a year, and inflated investor expectations may not lead to sustainable future growth models, he said.<\/p>\n
He also said the current model for Internet companies has lead to imperfect competition.<\/p>\n
If you are\u00a0Google, Facebook, or Amazon that wins the race to scale in a particular sector, you become globally dominant.<\/p>\n
This could lead to wealth becoming concentrated in a few places.<\/p>\n
Another concern is the risk that the Internet of Things is cutting out people.<\/p>\n
As more tasks are computerised, automated, and geographically-decoupled, the need for humans in the chain shrinks.<\/p>\n
In the near future, a machine in Nigeria may detect that it needs maintenance and automatically order a part from the supplier in China, for example.<\/p>\n
This will cause the need for skilled employees in many IT companies to shrink or stagnate, said Armstrong.<\/p>\n
With the risk of wealth and IT skills becoming centralised in a handful of companies, Armstrong said the potential for social disruption was enormous.<\/p>\n
\u201cSomething we should be wary of is social fracture,\u201d he said.<\/p>\n
\u201cWhat is important for us as industry, regulators, and government is that everyone shares in the prosperity that the Internet of Things promises.”<\/p>\n
He said we must ensure that as we connect everything to the Internet, the term \u201ceveryone” doesn\u2019t become meaningless.<\/p>\n
\u201cWe must create a South Africa with the Internet of Things that works for us, rather than despite us.”<\/p>\n
Jan Vermeulen was a guest of Telkom at SATNAC 2016.<\/em><\/p>\n Softer regulations needed for Internet of things in South Africa<\/strong><\/a><\/p>\n Google Brillo: operating system for the Internet of Things<\/strong><\/a><\/p>\n MTN Internet of Things platform launched<\/strong><\/a><\/p>\nMore on the Internet of Things<\/h3>\n