Internet of Things: Sustainable Models for Impact

Goal: 

Encourage a sustainable adoption of the Internet of Things by proposing cross-industry cooperation and new business models that maximize commercial results and social impact

Context:

The Internet of Things has a crucial role to play in the digital transformation of industries being at the converging point of technology trends such as cloud computing, big data or artificial intelligence. As networks transition to 5G, connected devices will enable multiple new use cases including autonomous driving, robotics, smart city services or telemedicine. However, stakeholders across industries, and in collaboration with government and other stakeholders, will have to develop new business models that could enable a wider adoption of the IoT as well as the rollout of 5G networks. Additionally, the societal implications of IoT, will not only be significant but will also represent commercial opportunities

Several studies indicate that a vast majority of CEOs agree with the importance of satisfying societal needs in addition to those of investors, customers, and employees. And the opportunity to realize this vision, is clearly there. Our analysis (http://wef.ch/IoT4D) shows that 75% of IoT deployments concentrate on 5 areas (cities, infrastructure, energy, health, and production) which map to 5 of the 17 UN Sustainable Development Goals. Private sector is driving 70% of projects and 95% are small or medium in size. This data reveals that there are 1) opportunities to scale and 2) opportunities to replicate IoT solutions beyond those 5 areas, including transport, food production or water (also aligned with the SDGs). 

2018-2019 Activities:

  • Develop an impact measurement methodology, based on a standardized set of key performance indicators (KPIs), that companies can tailor to their needs and use to link commercial and sustainability objectives This aims to not only help accelerate the pace of IoT deployments, but to also attract investment and/or government support using a common framework for measuring impact

  • Develop a set of principles for new cross-industry partnerships and business models by which the cost of deployment and subsequent generated value can be shared across stakeholders. During 2018, we will analyse safety and infotainment use cases within the automotive sector and expand the analysis across other verticals in 2019 in connection with Forum activities related to 5G and new network technologies.

For any questions about this project, please contact: Rodrigo.Arias@weforum.org