The Future is Smart

Cars, appliances, and wearables already transmit real-time data to improve performance, and new IoT products can even save your life. Consumer goods are just the tip of the iceberg. Amid projections that 30 billion smart devices will be linked soon, traditional companies such as Siemens, GE, and John Deere are preparing for profound changes to management, strategy, manufacturing, and maintenance.

With the IoT, for example, sensors warn when a critical assembly-line part is about to break, or track how customers actually use products. Data hubs collect and share information instantly with departments, supply chains, partners, and customers— anchoring the organization and replacing hierarchies with circular systems.