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Four Steps in the Evolution of the Machine Economy

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Illustration: © IoT For All With the fundamental technologies of the Machine Economy — IoT, blockchain, and machine learning — gathering, analyzing, and storing big data, businesses are turning critical information into actionable insights.

As these complex technologies continue to evolve and fields of innovation unfold, we are beginning to see the convergence of three major trends in the Machine Economy: Servitization

Radical automation

Collaborative consumption

Machine-to-Machine (M2M) enables and supports communication between machines and devices through both wireless and wired systems. M2M relates to connecting, remote monitoring, sensing, and actuating devices at its most basic level. Overall, M2M communication, along with Machine Economy’s underpinning technologies, is projected to rise over the next five to ten years by compound annual growth rates of 10% to 50%.

M2M connectivity will dramatically change the way we think about business assets and the future workforce, along with the skill sets required to succeed in a future automated economy. Click To Tweet M2M connectivity will dramatically change the way we think about business assets and the future workforce, along with the skill sets required to succeed in a future automated economy. When machines serve and transact with other machines, the opportunity to create new […]

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