Internet of Things: Contributing over a trillion dollars to the global economy

The smart life of the future has always attracted the attention of modern people. A report released by McKinsey, a famous consulting firm, lists 12 disruptive technological changes that will change life, business and the global economy in the next 10 years. The report assesses the potential impact of these technologies on the economy and the ability to subvert them, and gives the upper and lower limits that affect the economy. According to McKinsey's estimates, five technologies will contribute more than $1 trillion to the global economy by 2025.

Mobile Internet

Mobile Internet technology, including wearable devices, is growing rapidly. Since Apple introduced the iPhone in 2007, sales of smartphones and tablets have more than doubled. In developing countries, mobile internet can connect billions of people. By 2025, the economic impact of the mobile Internet will be approximately 3.7 trillion to 10.8 trillion U.S. dollars. In life, remote health monitoring can reduce treatment costs by 20%.

Knowledge work automation

With the development of technology, some computers can “understand” the language used by ordinary people, instead of precise program code, and people can obtain information without special training. This has completely changed the organization and implementation of knowledge work, and certain types of work can be completely automated. In the past five years, more than 400 million users have used intelligent software systems such as Siri and Google Now. By 2025, the potential economic impact of automation of knowledge work is 5.2 trillion to 6.7 trillion US dollars. In life, it is equivalent to an increase of 110 million to 140 million full-time laborers.

Internet of Things

Low-cost sensor networks for data acquisition, monitoring, decision-making and process optimization have seen a 300% increase in networking equipment over the past five years. The Internet of Things makes it easy for companies and the public sector to organize and manage assets, optimize performance, and create new business models. With remote monitoring, the Internet of Things can also improve the health of patients with chronic diseases and reduce rising medical costs. The impact of the Internet of Things on the economy by 2025 is 2.7 trillion to 6.2 trillion US dollars.

cloud service

The cloud has enabled Internet services, from search to streaming media to offline storage of personal data (photos, books, music), and back-office processing capabilities to be greatly enhanced. Clouds can also provide greater flexibility and responsiveness, and can even start new business models. By 2025, the cloud's influence on the global economy will be approximately 1.7 trillion to 6.2 trillion US dollars, which can increase productivity by 15% to 20%.

Advanced robot

Robots with enhanced sensors, agility, and intelligence can be used to automate tasks. Now thanks to the development of machine vision, artificial intelligence, machine-to-machine communication, sensors and actuators, the robot's senses, agility, and intelligence are all greatly enhanced. Robots are smaller, more adaptable, and easier to deploy. The new robot can replace humans for more manufacturing and service work such as cleaning and maintenance. The technology can also create new types of surgical robots, robotic prosthetics and "exoskeleton" support to help patients improve and prolong life. From 2009 to 2011, industrial robot sales increased by 170%. By 2025, the robot's economic impact will be between 1.7 trillion and 4.5 trillion US dollars, and it will improve the lives of 50 million amputees and people with reduced mobility.