The Internet of Things and the New Engines of Global Economy

It’s always exciting when we hear more examples of how the Internet of Things is changing the world we live in and how we interact with each other.  Take Davos for example…

Davos is host to the World Economic Forum (WEF), an annual meeting of global political and business movers and shakers. Last month’s WEF theme focused on something called the Fourth Industrial Revolution (4IR). Something not to be taken lightly when the world’s business elite are taking notes and its relation to the Internet of Things…

What is 4IR?

The first industrial revolution took place in the 18th century, as we moved from relying on the power of animals to mechanized power, the second in the late 19th and early 20th centuries when a host of breakthroughs set in motion systems of mass production and communication and the third over the last half century as computers opened up the digital world.

The Fourth Industrial Revolution (4IR) represents a fundamental shift in how we produce, consume and relate to one another, driven by the convergence of the physical and digital worlds and human beings. 

The Internet of Things and 4IR

The Internet of Things and the concept of disruption, innovation and digital transformation has in essence, become one of the new engines of the global economy and 4IR.  It has digitized networks in ways that have transformed interactions between individuals, business and the public sector alike.

Although it is true that we’re used to hearing how the private sector embraces new cutting edge ideas, it is interesting to see how these thoughts are now meshing into development and governance considerations too…

Take the recent COP21 (21st Session of the Conference of the Parties) in Paris and the Climate Agreement for example. Both the outcome and the approach were significant because they demonstrated such a global approach at problem solving that has not been seen before.

Nearly 200 countries showed commitment to charting a common path to addressing climate change; signaling an end to business-as-usual and making sure future investments are in line with a carbon neutral world.

Why is this significant?  It’s how they did it. They broke with convention and ‘disrupted’ the traditional practice of multilateral negotiations.  Instead, they had national governments individually submit domestic climate actions, and to make their commitments more ambitious every five years.

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It shows a collective approach that is not only made to have transparency, but also one that gives government’s real incentive to improve through competition. It also shows a common sense of shared ownership and purpose the world could use more of when it comes to international deliberations…don’t you think?

And this is just one example that we examined from Paris…but there are more and what we seem to be seeing is that dated global governance models and the public sector ideologies are changing as they embrace digital innovation. 

Exciting stuff… and as the Internet of Things becomes more and more intertwined with  policy and climate change in the future, what we’re really seeing is a shift that lays the foundation for inclusive and sustainable development models in the future.

About BrainGrid

BrainGrid Corporation is a designer, manufacturer and marketer of advanced digital communication devices and software systems that simplify the management of “things” as they relate to the “Internet of Things” (IoT).

BrainGrid’s revolutionary “Sentroller” is an advanced technology platform which delivers the most reliable, cost effective and fully featured means to connect and relay wireless data.