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Implementing a Space Utilization Solution Using IoT

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Space Utilization
Illustration: © IoT For All

You’ve invited all your friends and family to your house for a holiday gathering. You’ve cleaned your house, put out snacks in the living room, set out tables and chairs in the dining room and drinks in the back room. You’ve perfectly planned out the setup – everything is in its place. 

The guests will arrive and disperse themselves evenly among various rooms in the house, mingling and drifting from space to space, conversation to conversation. Lively chatter and warm holiday music fill your home.

But that’s not how it turns out. What really ends up happening is that all the adults cram into the kitchen, and all the kids hide in the basement. You end up bringing all the food back into the kitchen because that’s where everyone is. Nobody goes into the living room; nobody sits in the dining room for dinner. You can’t help but feel all the effort you put into setting up the house was wasted.

If this sounds familiar, you’ve been subjected to a classic problem in the realm of space utilization. You believed that you had set up your home for the party in a way that would best maximize the use of all rooms, but your friends and family ended up clumping together in one or two places in the house. 

The same happens in the real world: a designer – whether an architect, property manager, or interior designer – envisions a space – such as an office building, hotel lobby, or an event venue – to be used in a particular way. But in practice, the tenants, guests, and visitors end up using the space in an entirely different way. 

The designer is left trying to answer some questions: where is everyone? And why is this happening? How can we best monitor, measure, and take action on how space is used? And what does IoT have to do with it?

The Problem: Current Space Utilization Collection Methods are Inaccurate and Delayed

The objective of measuring space utilization is to figure out how many people are using a space. The scope of a space to be measured can vary – from individual desks in a coworking space to conference rooms in an office to exhibition halls at a convention.

Current approaches use very rough approximations for occupancies, such as looking back at scheduling records, conference room bookings at an office, or ticket sales for an event. In some situations, organizations engage consultants to perform manual observation and on-site assessments of how many people move through a given area. While it could get you close to the answer, using these methods present several limitations:

Not real-time: Going back to booking systems to look at data can be helpful, especially if you don’t have a bonafide space utilization system in place. But they don’t give an accurate sense of what is happening at the present moment. Depending on the use case, it could be important to have a real-time view.

Time-consuming: Many current methods are labor-intensive or tedious. For example, hiring a third party to perform an on-site assessment can get expensive and aggregating information from other systems to piece together a picture of occupancy at a given point can be time-consuming.

Not quantifiable: Doing manual observation or using other systems such as conference room booking systems as a stand-in for occupancy do not provide the precision to count the number of people over time truly. For the meeting scheduled in a conference room, how many people actually ended up attending?

Inflexible: Gathering data from systems like security badge swipes or other forms of self-reporting requires either the physical installation of new infrastructure (e.g., card swipe panels and wiring of door lock mechanisms) or operations training (to teach people how to report their usage). This makes it hard to quickly change which areas you want to measure and get consistent reporting.

The Solution: Capturing Space Utilization Using IoT can Transform a Variety of Industries

With IoT, organizations can measure space utilization systematically that frees themselves from the limitations of the highly manual, time-intensive, and less quantifiable processes of the past. By implementing a system using IoT, measuring space utilization becomes:

Automated: By placing sensors in locations to measure the intended space, the hardware does the data collection and counting. You don’t have to rely on a physical person or self-reporting to do the work.

Repeatable: Using software to process the data collected by sensors to produce a count or level of occupancy, the measurement process becomes consistent and repeatable. Users can rely on the occupancy levels they read, knowing that they were generated consistently, a non-biased way that operates around the clock.

Real-time: Because sensors continuously gather data to report occupancy levels, interfaces can be built to present that occupancy information equally as fast. In this way, real-time views of how space is being used are easily accessible to users. 

In any industry, being able to thoughtfully design a space to match the intended usage of the room is a difficult but important job. By gathering space utilization data and observing trends over time, IoT has the capability to transform a variety of industries, examples of which include:

Office and Property Management: Use occupancy data to understand which rooms, office spaces, or floors are being used the most to inform office designs or make heating and cooling system adjustments for energy savings.

Retail: Analyze trends of how customers spend time in different areas of a store and move from section to section. Use that data to make merchandising and product placement decisions.

Events and Entertainment:  Look at space utilization numbers to gauge actual attendance numbers, perform heat mapping of most and least used spaces in the event, and reconfigure vendors or A/V systems to match foot traffic and provide the best coverage of the venue. Set alerts when capacity is reached in a given space to redirect guests to other areas.

The Technology: BLE-Based Sensors and LoRa Networks Underscore a Wide Variety of Options

The exact technology used in a space utilization system will vary based on the use case. It also depends on what is being measured. This could be the occupancy of a desk, a room’s utilization, or the capacity of a more broadly defined space.

When looking at sensors, there are several considerations to take into account:

Precision/detection method: How precise do measurements need to be? Is an occupied/unoccupied state enough, or is an estimated count of people required? Possible detection methods to use are Infrared (IR) sensing, light sensing, video cameras and imaging, and Bluetooth Low Energy beacons (BLE).

Power source: Options can be either wired (wall outlet, PoE) or wireless (battery-powered). Are there places that the sensor can be plugged in to get power, or is it necessary for the sensor to be wireless and run on battery power? If battery-powered, how long does the battery last, and is it possible to replace the batteries instead of the whole unit?

Footprint: Does the device need to be smaller than a certain size to be unobtrusive? Does it need to be oriented in a certain way or mounted somewhere? Form factors and installation procedures can vary.

For connectivity to the cloud, sensors can either communicate directly with the cloud or, depending on the use case, communicate to gateways that communicate to the cloud.

If considering direct connectivity to the internet, options include Wi-Fi and cellular. The advantage of Wi-Fi is that it is typically already available at an installation site, and adequate coverage exists where people are normally located. However, Wi-Fi connections could be spotty, access could vary based on enterprise security rules, and connectivity could go down whenever the Wi-Fi goes down. Cellular is ubiquitous and more robust, but data costs could get expensive depending on the number of sensors and reporting frequency of the solution.

A low-powered wide area network (LPWAN) may fit your needs if looking at network connectivity to the cloud via gateways. These networks emphasize long-range, low-bandwidth communications such that even a single gateway can provide coverage for all sensors located in a large radius. LPWAN can be implemented for both indoor and outdoor use cases, and being low-bandwidth results in energy savings for battery-powered sensors. Examples of LPWAN protocols include LoRa, NB-IoT, and Sigfox.

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Source: https://www.iotforall.com/space-utilization-using-iot

IOT

Cold Chain Monitoring Efficiency with IoT

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Cold Chain supply
Illustration: © IoT For All

Many people refer to the “Cold Chain” primarily as the delivery of goods and the environment in which they were transported. They even tend to focus mostly on only one attribute: Temperature. There is much more information to collect for cold chain monitoring other than temperature.

Temperature questions include:

  • Were the goods properly cooled during their journey?
  • Was the temperature low enough but not too low to damage the goods?
  • Were the goods un/loaded quickly enough without interruptions of the cold chain?

Buy or Don’t Buy

These are all crucial questions, and we should definitely continue asking them. However, what about the remaining information that might influence the buy or don’t buy a consumer’s decision? These questions include:

  • When were the goods produced or picked?
  • Were the goods specially treated to be sustainable in case of a long journey?
  • Where are the goods coming from and what path did they take to arrive here?
  • How long were the goods stored and at what locations?

Efficient Operations

How about the information, which focuses on the business side to ensure efficient and economical operations?

Information Efficiency
How were the goods picked? Is this process in combination with all other steps reducing the shelf time of the goods?
Where are the goods packaged / transported / handled as defined throughout the whole journey? Are we able to dynamically adjust to changes along the journey?
Who is transporting/storing the goods? When something happens, who will be responsible? What additional insurance is required to cover specific corner cases?
What is the final destination and when should the goods arrive there? How can we bundle multiple deliveries into one and optimize our delivery routes?

There is so much more information to collect than just temperature. On the one hand, information enriched and shared with consumers increases confidence in the product itself. On the other hand, information that highlights underperforming processes (such as delivery routes) enables companies to create new and better ways of monetization.

Recording and Managing

Recording and managing all attributes from the complete cold chain (end to end) is not an easy venture. The data must be provided by multiple independent companies, recorded by dozens of employees, and on top of that, also monitored, summarized, and reported by a dedicated team.

With the masses of goods shipped and delivered daily across the globe, recording all the mentioned data traditionally creates a monumental task that is everything but economical and efficient. Therefore, it is often neglected because it’s cheaper and easier to order a replacement part instead of investigating hours to determine where the process has failed.

But it does not need to be like that. Modern IoT sensors can provide all of the mentioned benefits including full insight into every single process of the whole cold chain (end to end) with a fraction of the usual efforts and cost!

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.iotforall.com/cold-chain-monitoring-efficiency-with-iot

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Artificial Intelligence

Digital banking market: Top trends boosting the industry growth through 2026

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Digital banking market: Top trends boosting the industry growth through 2026

Global digital banking market has witnessed significant boost in recent years, thanks to the various technological advancements happening in the banking sector. Banking institutions are using technologies and devices like Artificial Intelligence (AI) and Internet of Things (IoT) to not only improve the products and services offered by them but to enhance the overall customer experience as well.

The COVID-19 pandemic played a pivotal role in increasing the use of digital banking solutions among customers across the world as several governments had imposed movement restrictions and lockdowns. This forced many people to turn to online banking channels to conduct their daily transactions. The pandemic posed a challenge for the banks and financial institutions as well because they had to think of creative ways to use the digital medium. 

Many smaller and lesser-known banks had to go digital in order to retain their existing customer base and increase their presence in different nations across the globe. Retail shopping saw a boost in its online sales as more customers preferred online shopping platforms. This gave smaller businesses an opportunity to widen their customer base and expand in different areas. People who were already in the field of digital business were flourishing during the pandemic.

The trends that will boost the development of global digital banking industry are given below:

Online investment banking activities will rise in Asia Pacific:

Asia Pacific digital banking market will exceed valuation of nearly $8 billion by 2026. The digital investment banking segment is expected to grow at more than 10% CAGR through 2026. This is because the region is witnessing rapid internet penetration which has made more financial products and services easily available for a wide range of customers.

Investment banking has become much easier today as compared to a few years ago as people then would solely rely on the suggestions of their brokers and then take important investment decisions. However, that is not the case today as people are increasingly participating and learning the tricks of the stock exchange on their own, thanks to millions of online investment platforms available. E-trading has played an important role in saving time, money and energy of several investors as the stock markets can be accessed with the help of smartphones.

Mobile payments will benefit APAC digital banking market:

Developing countries in APAC region are witnessing heavy adoption of NFC and POS terminals because of the rapid digitization happening in these nations. Banking services in these economies are taking the digital route to not just increase the customer base but to expand their business as well. High-end gadgets like tablets and smartphones are experiencing rapid rise in their demand among consumers in India, Indonesia, Philippines and Malaysia, leading to the introduction of mobile wallets. 

These wallets are a digitized version of physical wallets and perform functions like making payments and cash withdrawals. Mobile wallets provide security to the cash stored unlike physical ones. The increase in use of mobile wallets has compelled retail shops to get themselves integrated with online payment platforms to accept mobile payments. All these factors will create a positive impact on digital banking market size in Asia Pacific region.

Strategic alliances to innovate digital baking products:

Several companies that are a part of digital banking market in Asia Pacific are getting into strategic alliances with other fintech firms. They aim to create innovative products and services to serve banking customers in a better manner. In January 2019, Western Union announced its partnership with Kakaobank of Korea Corporation to launch Western Union money transfer services in an app created by Kakaobank. This partnership was quite beneficial for the customers of Kakaobank as they were able to send and receive money with the help of this app, thereby enhancing their overall experience.

Digital corporate banking services will gain momentum in Europe:

Digital banking market size in Europe is expected to surpass $2 billion by 2026. Corporate banking segment is estimated to grow at nearly 5% CAGR during the forecast period of 2020-2026. One of the major reasons for this is the increasing need among customers to reduce the high number of formalities and complexities involved in the banking sector. Conventional banks often have many portals and rivals, thereby making life difficult for corporate customers who want to maintain different accounts for their business.

This is where digital banking solutions are useful as they provide an online dashboard that has complete information in a consolidated format. This helps the corporate customers in viewing the history of their transactions and even provide financial projections of their cash position in the form of graphs.

Canada will see higher demand for digital banking services:

Canada digital banking market is expected to show exponential progress during the forecast period of 2020-2026. The country has been quick to adopt some of the most advanced banking technologies to improve their financial infrastructure. There are a large number of customers today that are using digital banking platforms to complete their daily transactions. 

The Canadian Imperial Bank of Commerce, in August 2020, announced its plan to use the CRM platform of Salesforce to improve the overall experience of customers. The bank aims to provide end-to-end digitization services and advanced analytics to encourage customers to use digital banking services.

Increasing use of retail baking in North America:

Financial apps on mobile devices are experiencing an incredible surge in demand among consumers in North America. This is because they provide ease in doing transactions. People can now receive all kinds of information related to their financial transactions on their smartphones and tablets. This has prompted financial institutions to make changes in their functions and make them more suitable for online banking operations. It has resulted in improved experience for customers and has benefited the banks as well.

Some of the top financial institutions providing digital banking services across the world are Intellect Design Arena Ltd., The Bank of New York Mellon Corporation, CREALOGIX AG, ebankIT, Fidor Solutions AG, TATA Consultancy Services Limited and many others.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.fintechnews.org/digital-banking-market-top-trends-boosting-the-industry-growth-through-2026/

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Artificial Intelligence

Digital banking market: Top trends boosting the industry growth through 2026

Published

on

Digital banking market: Top trends boosting the industry growth through 2026

Global digital banking market has witnessed significant boost in recent years, thanks to the various technological advancements happening in the banking sector. Banking institutions are using technologies and devices like Artificial Intelligence (AI) and Internet of Things (IoT) to not only improve the products and services offered by them but to enhance the overall customer experience as well.

The COVID-19 pandemic played a pivotal role in increasing the use of digital banking solutions among customers across the world as several governments had imposed movement restrictions and lockdowns. This forced many people to turn to online banking channels to conduct their daily transactions. The pandemic posed a challenge for the banks and financial institutions as well because they had to think of creative ways to use the digital medium. 

Many smaller and lesser-known banks had to go digital in order to retain their existing customer base and increase their presence in different nations across the globe. Retail shopping saw a boost in its online sales as more customers preferred online shopping platforms. This gave smaller businesses an opportunity to widen their customer base and expand in different areas. People who were already in the field of digital business were flourishing during the pandemic.

The trends that will boost the development of global digital banking industry are given below:

Online investment banking activities will rise in Asia Pacific:

Asia Pacific digital banking market will exceed valuation of nearly $8 billion by 2026. The digital investment banking segment is expected to grow at more than 10% CAGR through 2026. This is because the region is witnessing rapid internet penetration which has made more financial products and services easily available for a wide range of customers.

Investment banking has become much easier today as compared to a few years ago as people then would solely rely on the suggestions of their brokers and then take important investment decisions. However, that is not the case today as people are increasingly participating and learning the tricks of the stock exchange on their own, thanks to millions of online investment platforms available. E-trading has played an important role in saving time, money and energy of several investors as the stock markets can be accessed with the help of smartphones.

Mobile payments will benefit APAC digital banking market:

Developing countries in APAC region are witnessing heavy adoption of NFC and POS terminals because of the rapid digitization happening in these nations. Banking services in these economies are taking the digital route to not just increase the customer base but to expand their business as well. High-end gadgets like tablets and smartphones are experiencing rapid rise in their demand among consumers in India, Indonesia, Philippines and Malaysia, leading to the introduction of mobile wallets. 

These wallets are a digitized version of physical wallets and perform functions like making payments and cash withdrawals. Mobile wallets provide security to the cash stored unlike physical ones. The increase in use of mobile wallets has compelled retail shops to get themselves integrated with online payment platforms to accept mobile payments. All these factors will create a positive impact on digital banking market size in Asia Pacific region.

Strategic alliances to innovate digital baking products:

Several companies that are a part of digital banking market in Asia Pacific are getting into strategic alliances with other fintech firms. They aim to create innovative products and services to serve banking customers in a better manner. In January 2019, Western Union announced its partnership with Kakaobank of Korea Corporation to launch Western Union money transfer services in an app created by Kakaobank. This partnership was quite beneficial for the customers of Kakaobank as they were able to send and receive money with the help of this app, thereby enhancing their overall experience.

Digital corporate banking services will gain momentum in Europe:

Digital banking market size in Europe is expected to surpass $2 billion by 2026. Corporate banking segment is estimated to grow at nearly 5% CAGR during the forecast period of 2020-2026. One of the major reasons for this is the increasing need among customers to reduce the high number of formalities and complexities involved in the banking sector. Conventional banks often have many portals and rivals, thereby making life difficult for corporate customers who want to maintain different accounts for their business.

This is where digital banking solutions are useful as they provide an online dashboard that has complete information in a consolidated format. This helps the corporate customers in viewing the history of their transactions and even provide financial projections of their cash position in the form of graphs.

Canada will see higher demand for digital banking services:

Canada digital banking market is expected to show exponential progress during the forecast period of 2020-2026. The country has been quick to adopt some of the most advanced banking technologies to improve their financial infrastructure. There are a large number of customers today that are using digital banking platforms to complete their daily transactions. 

The Canadian Imperial Bank of Commerce, in August 2020, announced its plan to use the CRM platform of Salesforce to improve the overall experience of customers. The bank aims to provide end-to-end digitization services and advanced analytics to encourage customers to use digital banking services.

Increasing use of retail baking in North America:

Financial apps on mobile devices are experiencing an incredible surge in demand among consumers in North America. This is because they provide ease in doing transactions. People can now receive all kinds of information related to their financial transactions on their smartphones and tablets. This has prompted financial institutions to make changes in their functions and make them more suitable for online banking operations. It has resulted in improved experience for customers and has benefited the banks as well.

Some of the top financial institutions providing digital banking services across the world are Intellect Design Arena Ltd., The Bank of New York Mellon Corporation, CREALOGIX AG, ebankIT, Fidor Solutions AG, TATA Consultancy Services Limited and many others.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.fintechnews.org/digital-banking-market-top-trends-boosting-the-industry-growth-through-2026/

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IOT

The Strings of Cellular IoT

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Cellular Wires
Illustration: © IoT For All

I’ve spent the last decade of my career working on software and hardware tools for developers. Every product I’ve worked on – from web UI tools and mobile app dev services to developer-biased IoT tools – was created to help developers get something done faster. Tools designed to foster collaboration and lower the learning curve of complex technologies so that teams and companies can solve problems faster. And every product was focused on untangling all of the complexity associated with building solutions in that space.

In IoT, we have more than our share of complexity. We get all of the complexity of the software world mixed in with a healthy dose from the physical world around us.

In cellular IoT, I like to refer to this complexity as “the strings of cellular IoT.” They are the things that developers often cannot control about building IoT solutions or which exist by pure inertia. They are things that slow developers down, cut off choice, or provide unnecessary duplication of effort. They are things that lead us to search for alternatives that may be less than ideal but which feel worth the tradeoff in our frantic efforts to reduce friction.

And while there are many such strings in the cellular space, these are the ones I tend to see most often:

  • Difficult-to-program modems
  • Developer Guardrails
  • Device lifecycle management pitfalls
  • Security not included
  • The meandering path from prototype to scale

Difficult-to-Program Modems

This command set – often referred to as the “AT command set” because many of the commands start with the string “AT” – was developed by Dennis Hayes in 1981 as a standard command set for interfacing with dial-up modems. If you’ve ever had to work directly with a cellular or Wi-Fi modem, you’re no doubt familiar with the Hayes command set. It’s terse and was created in a time when instruction sets were designed to save space. As a result, it’s about as developer-friendly as machine code.

It’s also still in use on many modems, including most cellular IoT devices.

For those unfamiliar with the AT command set, here’s a brief example of the commands needed to turn on a cellular IoT module, set its APN, configure an LTE band, and start scanning for towers:

An example of AT commands for controlling a cellular IoT device.

For many developers, myself included, AT commands are cryptic and inaccessible. They are non-intuitive and differ from one module to the next. It’s a painful way to add a connectivity module to your application. Yet, it’s still the way of the modern world if you’re looking to integrate a cellular modem into your IoT solution.

Developer Guardrails

The challenge of working with cellular IoT modems is well-known, and solutions do exist to create developer-friendly abstractions on top. The problem is that these abstractions often come with guardrails that do too much, or too little, to help accelerate building a connected solution.

Some vendors create narrow guardrails and abstract away the complexity into developer-friendly APIs. The problem is, they also force you to adopt their Host microcontroller, their RTOS, and even a particular programming language. As nice as it is to abstract away the AT command set, cutting off developer choice in the rest of the stack is a steep price to pay in exchange.

Other vendors give you wide guardrails. They sell you only a SIM or a piece of hardware that requires you to furnish your own SIM and plan. This approach has certainly brought down the cost of IoT and M2M data plans, but it swings too far in the other direction. Developers get cheaper connectivity but are left to build up the rest of their solution stack themselves. As a result, the developer ends up with the equivalent of “writer’s block” or “blank page syndrome” because there is so much to choose from.

The either-or nature of the guardrails in place today leaves developers with a difficult selection: accept too much restriction, or forge ahead with too little guidance?

Device Lifecycle Management Pitfalls

How do you design a real-world IoT device when the cost model isn’t built to account for real-world use?

Beyond cryptic interfaces and guardrails, developers must also contend with the cost of managing devices and data, much of which is hidden from view. Every device has a price, but some have multiple: the price you pay up-front, the price you pay for data, and the price you pay for a device to change its state, for instance, when activated or deactivated.

When a device has multiple price components or shadow costs, it can be hard to know exactly what your IoT solution will cost you. Especially since the reality is that IoT products don’t follow a happy path where they fly off the shelf, are deployed into the field immediately, and are used forever and ever without end.

Instead, most IoT devices tend to go through a pretty consistent lifecycle:

  • A inventory and distribution stage where they sit idle.
  • Activation when they are first used.
  • A period where they fall into less than regular use, but the device is still “online” and accruing fees.
  • A period of temporary breakage, and it can often take months before the issue is identified and fixed.
  • Re-commissioning after the device is fixed.
  • A period where the device is decommissioned permanently.
An illustration of a typical device lifecycle.
The typical device lifecycle

Now imagine that you’re paying the same monthly data fee for every one of these stages, regardless of actual use, as well as charges for activation, re-commissioning, and decommissioning. The challenge in the cellular IoT space is that each of these phases in the device lifecycle comes with carrier fees and transaction costs that can be difficult to plan and budget for. As a result, when most developers look at an IoT device, they don’t know its true cost.

How do you design a real-world IoT device when the cost model isn’t built to account for real-world use?

Security Not Included

Key and certificate management is an essential part of every IoT solution. There’s also the string of security, a topic that developers are ever conscious of, but many providers don’t bake into their products. And with all major IoT cloud services now requiring TLS, in the absence of baked-in security, developers are forced to store keys and certificates in firmware to connect their devices to cloud services.

With keys and certs in firmware, your IoT devices become yet another sensitive vector that an attacker can use to get the (literal) keys to your kingdom.

The Meandering Path From Prototype to Scale

Finally, there’s the string of the disconnect between prototype and production solutions, even as developer-friendly tools abound. As developers, we should consider ourselves fortunate that prototyping is accessible today, thanks to companies like Arduino, Adafruit, SparkFun, and the Raspberry Pi Foundation. But because much attention has been paid to how “maker friendly” these devices are, they are often dismissed as not production-ready. IoT engineers will gladly use these accessible tools to prove an idea at the prototype stage, but throw those prototypes away and start over when it comes time to build a “real” solution.

But if these tools are good enough for the Mars Ingenuity helicopter, they should be good enough for our solutions. And IoT solution vendors can absolutely do more to minimize the throwaway mindset with tools that make prototyping easy from the start and which level-up to pilot and production scale just as seamlessly.

Complexity Kills

When taken together, the strings of cellular IoT create a developer-hostile environment where complexity rules. From the start, the path from selecting a board to building a prototype to deploying and scaling a pilot is filled with hurdles and roadblocks that make it hard for many initiatives to succeed.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.iotforall.com/the-strings-of-cellular-iot

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