Growth Customer Experience Productivity Business IQ Trends Success Stories Tech Solutions Awards Business Tools Subscribe Tech Enquiry
Mike Doman
Technology Journalist

Mike Doman is a technology, lifestyle, industrial and education writer

Mike Doman
Technology Journalist

Mike Doman is a technology, lifestyle, industrial and education writer

Connected devices and the Internet of Things (IoT) are increasingly changing the way we work. So what does a connected Aussie business look like – and how do emerging technologies influence your business now and in the future?

View through the side of an office building

First, what is the Internet of Things?

Gartner describes the IoT as, “the network of physical objects that contain embedded technology to communicate and sense or interact with their internal states or the external environment”. And as stated by Forbes , the IoT “can transform how organisations design, produce and sell their products and services, as well as how they become part of a larger ecosystem – both physical and digital”.

Put simply, the IoT is a network of Internet-connected objects capable of both collecting and exchanging data. It means a device can talk to another device, including things like smart TVs, mobile phones, tablets, air-conditioners, thermostats, fridges and a whole lot more. While for many it sounds a little bit like science fiction, the truth is the IoT is well and truly here, and it’s already changing how Australian businesses operate and develop new business apps for a vast range of solutions.

According to ACS, the professional association for Australia’s ICT sector, the IoT has the potential to supercharge Australia’s next wave of economic growth. A report titled Australia’s IoT Opportunity: Driving Future Growth, suggests the IoT can reinvigorate Australia’s productivity growth through the key sectors of construction, mining, healthcare, manufacturing and agriculture. At the same time, the IoT provides a $30 billion opportunity for Australia’s tech sector by 2023.

“Australia’s productivity has plateaued in the past decade and our growth has largely relied on the bounty of our natural resources,” said PWC CEO Luke Sayers. “Our future growth is going to come from innovation and embracing the digital revolution. New technologies are triggering a fundamental transformation in the way we are engaging with each other, the world around us and how we do business. The Internet of Things provides a huge opportunity to improve productivity by up to 2% per annum in some industries if we have the courage to embrace it.”

Future IoT impact

This anticipated level of impact is exciting news for Australian business internet solutions, countless innovative business apps and connected device platforms both existing and yet to be developed. The business benefits will be varied yet significant. So what might a connected business look like?

Want more information about how technology can help your business?

Discover resources, reports and insights to help you achieve your goals.

Find out more

Twitter Headquarters San Francisco Canteen
Business IQ
Business IQ
Leadership lessons from Airbnb and Twitter

Airbnb and Twitter both can offer some brilliant lessons in scaling up to achieve global supremacy. Though as Morris Kaplan explains, leaders of fast-growth companies rarely ge...

woman sat on desk whilst hugging latptop screen
Tech Solutions
Tech Solutions
How Cloud computing can really save your business

IT experts have been praising the cost savings and productivity boosts of cloud storage technology for years. But what does that mean for small businesses in the real world? It...

Christmas criminal Christmas present
Business IQ
Business IQ
Steer clear of net nasties this christmas

Think twice before opening that digital Christmas card or clicking on that festive-looking link, internet security experts and consumer authorities warn. That animated Santa Cl...

dog
Customer Experience
Customer Experience
How to inspire customer loyalty

A customer loyalty program is much more than a card-based reward system. It's a way to create brand fanatics. 2018 research by Mastercard shows that 9 out of 10 Australians bel...