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The Internet of Things Will Change Far Too Many Industries In The Coming Years

Internet of Things or IoT will be the top digital service in the coming decades, held a report published by Mobile World Live, a leading multimedia resource platform focused on using industrial IoT services and in-depth report to the mobile industry.

Internet of Things (IoT), also referred to as Internet of Everything or IoE, is the inter networking of physical devices, vehicles, buildings and other things that enable these objects to gather and transmit data without any human intervention. It is often defined as the "the infrastructure of the information society."

The report titled "The Business of Tomorrows" has been published based on a survey which revealed that a surprising 75% of the survey audience believe that IoT will be the prevailing digital service above enterprise cloud and mobile financial services (MFS).

Another 32% held that with higher data capacity and advanced coverage, 5G service has the potential to create interconnectedness among cities to share each other's infrastructure and public amenities.

This report was carried out in partnership with Mahindra Comviva, the global leader in mobility solutions. Remarking on the report Manoranjan Mahapatra, CEO of Mahindra Comviva, said that, "Fueled by booming demand for mobile data, the opportunities in the digital content and mobile financial services and underpinned by the promise of 5G, operators clearly have a major role in shaping the Business of Tomorrows driven by new technologies adoption leading to innovations and growth."

The report also indicated that customer experience management is the key priority for operators in the near future as 27% of the audience surveyed ranked it above big data, cloud computing, and BSS/OSS transformation.

The scene is not clear in mobile payments as newer technologies are emerging every day. Provided that disruptions are inevitable, inclusion of the mass in the financial space remains to be a major concern now.

Although, it still seems to be a far-fetched idea, Bangladesh can be a leader in implementing IoT. IoT can contribute to solving the longstanding public transportation problem, and standardize and speed up public and private services. Moreover, in fields like agriculture, health care and energy, implementing IoT can help invigorate the economy as a whole.

Rahatil Ashekan is an undergraduate student at the University of Dhaka studying Accounting and Information Systems. He works as a reporting intern at FS and writes about startup, travel, and e-commerce. You may reach him at rahatilrahat@gmail.com.

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