Consumers value IoT, but they don’t trust it, says Cisco

Consumers value IoT, but they don’t trust it, says Cisco

New research finds that fears over data privacy persist but aren’t enough to get consumers to pull the plug on smart devices. 

Cisco has announced the findings of new consumer-focused research, based on a survey of over 3,000 US and Canadian consumers, that the networking giant says is designed to help businesses that offer IoT-based products and services give the market a boost when it comes to customer confidence and adoption.

The message from the report, The IoT Trust/Value Paradox, is clear: consumers believe these products and services deliver “significant value”, but they don’t understand or trust how the data they share with providers is managed or used.

No change there, it seems: the same could be said of any of the major social networking sites. And, as with social networking sites, consumers are unwilling to disconnect from IoT services, even temporarily, despite their concerns.

According to Cisco, 42 percent of respondents said the IoT was too deeply integrated into their daily lives to simply ‘switch it off’. From this, the company deduces that they find it easier to tolerate uncertainty and risk than to pull the plug on IoT.

Read more: Study reveals in-person service essential in creating smart homes

What is the IoT, anyway?

A lot depends, of course, on how a consumer defines the IoT. In the Cisco report, respondents were twice as likely to recognize personal IoT devices such as wearables and smart home security systems than they were public ones, such as smart streetlights and wind turbines.

That stands to reason, given the hype around consumer devices and the relatively limited exposure to  IoT that many people have had in their working lives to date, unless they’re directly involved in making strategic decisions about their company’s digital direction.

But even at home, while it’s perfectly true that many people now have smart devices, others are perfectly happy to potter along in a relatively ‘dumb’ home that ‘just works’ for them, unless they see real value in making a switch. For a vast swathe of the world’s population, of course, this isn’t even an issue.

What does stand out, in Cisco’s research at least, is that respondents are overwhelmingly positive about the value the IoT brings to them, however they define it. Fifty-three percent say that IoT makes their lives more convenient, 47 percent say it makes them more efficient, and 34 percent say IoT increases their safety.

Read more: Survey: UK consumers wary of smart home products

A matter of education?

At the same time, only 9 percent of respondents say that they trust that their data, collected and shared through IoT, is secure. And only 14 percent feel that companies do a good job of informing them what data is being collected on them and how it is used.

According to Cisco, “As companies build their businesses around IoT services, they need first to understand the importance of educating their customers on the role of IoT in delivering new, valuable services that will enhance their lives. Only when customers understand the value of IoT – and trust that these new services can be delivered in a way that respects and protects their data – will mainstream adoption increase.”

There’s some truth in that, certainly. A great deal more work needs to be done by smart device makers on data privacy – and, while they’re about it, they should definitely cast an urgent eye over device security. But if “mainstream adoption” is truly the goal here, an education in the IoT might be overkill.

At Internet of Business, then, our take is this: the onus rests with smart product device makers to sort out privacy, tackle security – and do a much better job of explaining to customers what value might look like, in terms of the impact we can expect connected devices to have on our day-to-day lives.

And, here, interoperability is going to be key, because a thousand different apps to turn on lights, track our pets, measure our fitness efforts and curb our energy usage is unlikely to be workable for many in the longer term.

Read more: Smart home device metadata offers hackers insight into residents’ habits

The post Consumers value IoT, but they don’t trust it, says Cisco appeared first on Internet of Business.

Internet of Business

Global IoT spending to hit $772 billion in 2018, says IDC

A new update released by the International Data Corporation (IDC) projected that spending on IoT globally will increase 14.6% year over year to $ 772.5 billion in 2018.

IDC’s “Worldwide Semiannual Internet of Things Spending Guide” has projected that IoT spending globally will increase at a CAGR of 14.4% through the 2017-2021, crossing the $ 1 trillion mark set for 2020 and touching the $ 1.1 trillion mark in 2021.

For 2018, IoT hardware will emerge as the biggest technology category followed by services, software and connectivity, IDC said. In the technology category, an amount of $ 239 billion will be dedicated largely toward modules and sensors in addition to infrastructure and security expenditure. In terms of software expenditure, application software will take the lead along with analytics software, IoT platforms, and security software. It is projected that software will be the fastest growing technology segment with a five-year CAGR of 16.1%.

Carrie MacGillivray, vice president, Internet of Things and mobility at IDC, said: "By 2021, more than 55% of spending on IoT projects will be for software and services. This is directly in line with results from IDC’s 2017 Global IoT Decision Maker Survey where organisations indicate that software and services are the key areas of focused investment for their IoT projects.

“Software creates the foundation upon which IoT applications and use cases can be realised. However, it is the services that help bring all the technology elements together to create a comprehensive solution that will benefit organisations and help them achieve a quicker time to value,” MacGillivray added.

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Former Facebook exec says social media is ripping apart society

Another former Facebook executive has spoken out about the harm the social network is doing to civil society around the world. Chamath Palihapitiya, who joined Facebook in 2007 and became its vice president for user growth, said he feels “tremendous guilt” about the company he helped make. “I think we have created tools that are ripping apart the social fabric of how society works,” he told an audience at Stanford Graduate School of Business, before recommending people take a “hard break” from social media.

Palihapitiya’s criticisms were aimed not only at Facebook, but the wider online ecosystem. “The short-term, dopamine-driven feedback loops we’ve created are destroying how society works,” he said, referring to online interactions…

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The new ‘Star Wars’ might not suck, says Twitter

“The Last Jedi” premiered this weekend and the attendees took to Twitter to rave about it.

“Star Wars: The Last Jedi” premiered this weekend to a rush of praise online. Reviewers and industry professionals hit Twitter to express their appreciation for the latest movie in the science fiction saga. This is no “Phantom Menace.”

Director and screenwriter Ava Duvernay called it “a total joy-ride through the galaxy.” Entertainment reporter Germain Lussier left the theater “still shaking.”

The Disney/Lucas Films movie hits theaters Dec. 15. If the Twitterverse is to be believed, you are going to want to avoid spoilers at all cost.

And in case you haven’t watched it a million times already, here’s the official trailer:


Recode – All

Android 8.1 update caused some Pixel C tablets to factory reset, Google says it’s fixed

When a manufacturer releases a system update, there is a general assumption that the update will not break everything. If you have a Pixel C that hasn’t received the Android 8.1 update yet (or you’ve been holding off), consider yourself lucky – many users discovered that the OTA triggered a factory reset.

Google released the final build of Android 8.1 earlier this week, and the update started to roll out to Nexus and Pixel devices worldwide (including the Pixel C).

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Android 8.1 update caused some Pixel C tablets to factory reset, Google says it’s fixed was written by the awesome team at Android Police.

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