The Economy of Things: Telcos Drive Value in the IoT Era

The Economy of Things (EoT) is revolutionizing the Internet of Things (IoT) by unlocking the potential for connected devices to autonomously share, monetize, and transact on their own generated value. Telcos play a pivotal role in enabling and scaling the EoT, as they have the infrastructure and expertise to facilitate this digital transformation. With the EoT, IoT devices themselves become digital assets capable of real-time discoverability, indexing, and autonomous transactions. This article explores how telcos can leverage their position to drive the EoT and expand across industries.

Summary

The EoT has emerged as the next phase of the IoT, as connected devices surpass the number of connected humans. The EoT is enabled by artificial intelligence, data, IoT, and blockchain, bringing liquidity to the IoT and transforming devices into digital assets. Telcos play a central role in enabling the EoT, providing secure networks, data marketplaces, and facilitating ecosystem collaboration. The EoT drives cross-industry innovation, fosters hyperconnected ecosystems, and redraws value models through data ownership. Telcos have the opportunity to lead the transition to the EoT and become the heart of new market platforms.

FAQ

What is the Economy of Things (EoT)?

The Economy of Things (EoT) is the next phase of the Internet of Things (IoT), where connected devices can autonomously share, monetize, and transact on their generated value. It is enabled by technologies such as artificial intelligence, data, IoT, and blockchain.

How do telcos play a role in the EoT?

Telcos play a pivotal role in enabling and scaling the EoT. They provide secure networks, extend enterprise data and AI capabilities to the edge of their networks, and facilitate the real-time discovery, usage, and monetization of compliant EoT data and use cases. Telcos also act as data providers, operate data marketplaces, and convene EoT ecosystems.

What are the benefits of the EoT?

The EoT drives cross-industry innovation by creating hyperconnected ecosystems and breaking down barriers across industries. It allows for the exchange of collective value between users, devices, and industries through interoperable marketplaces. The EoT also redraws value models through data ownership, incentivizing data owners to share their data while preserving privacy.

How can telcos leverage the EoT?

Telcos can leverage the EoT by championing the transition from the IoT to the EoT, providing the necessary infrastructure and services. They can extend secure networks, operate data marketplaces, and facilitate ecosystem collaboration. By doing so, telcos can become the heart of new market platforms, driving digital and transactional services across industries.