The IoT Will Transform Companies from Product Sellers into Service Firms (LaaS) - Energy Watch News


The IoT Will Transform Companies from Product Sellers into Service Firms (LaaS)

Rowan Trollope, senior vice president and general manager of Cisco’s IoT and applications group, said that by embedding chips in products — such as lamps — and connecting them to the Internet, companies can stay in constant touch with customers, garner continuous feedback from them, and send them software upgrades that enhance their product. They can also then collect payment on an ongoing basis rather than upfront, via service contracts. The IoT is the movement in which anything that can be digitized and connected to the Internet will be — cars, phones, refrigerators, light bulbs, security cameras, gas turbines, jet engines, you name it. The connectivity then enables communications between devices and people and collects and analyzes data (using cloud computing) from the devices. http://www.ledsmagazine.com

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