Reflection by
The main topic discussed in the article The Internet of Things is the development of information systems, which are based on the increasing use of sensors for exchanging large amounts of data within networks. The authors emphasize the fact that the traditional bottom-up information flow is no longer sufficient for establishing sufficient control and efficiency of internal processes. Therefore, managers should take into account the benefits that can be obtained by using the Internet of Things and the need to embrace the new technology that allows remaining competitive in the contemporary environment.
The article primarily targets business professionals, who are the main readers of McKinsey Quarterly. They are usually the people, who can benefit from the practical advice given by the McKinsey authors and who should stay up-to-date with the most recent developments in the market.
In order to convince their readers, the authors try to support their claims by providing several examples of the potential implementation of the Internet of Things in different business areas. They also demonstrate some technologies, such as autonomous systems, that are not yet used in the market but have a potential to revolutionize some areas of business and to generate new ideas, which can significantly change industry landscape. Moreover, Chui, Löffler, and Roberts illustrate some of the ways to use these information systems in order to facilitate businesses, to improve process efficiency and to reduce costs. In some cases, the authors also estimate the savings that could be achieved by taking advantage of the Internet of Things.
Chui, Löffler, and Roberts conclude the article by providing some of the challenges that the Internet of Things may face in its implementation. In particular, legal, technological and organisational frameworks often limit the possibilities of using the new information systems in the company environment. Hence, the concluding part of the article focuses on some of the improvements that should be made by companies and authorities in order to facilitate further development of the Internet of Things. The authors also emphasize the importance of close collaboration between different entities, as the development of emerging technologies may yield benefits for a number of parties, while the initial investment needed for financing tests and pilot projects may by far exceed the capabilities of separate organizations.
`
In general, the ideas presented in the article are both well-communicated and relevant for the intended audience. As information technologies are becoming an integral part of any business activity, managers should be aware of the benefits that IT can bring into the companies. At the same time, the authors try to communicate the challenges for implementing the Internet of Things in daily operations. In many organizations the status quo prevents companies from successfully embracing emerging technologies that is why the authors of McKinsey Quarterly try to raise awareness about the potential obstacles on the way of implementing new information systems. This approach presents a comprehensive picture of the current Internet of Things technologies that allows the readers to understand the full complexity of the issue and the importance of considering new network technologies to remain competitive. Thus, even if the readers are not yet able or willing to get on board with the implementation of the Internet of Things, they nevertheless become aware of the current market trend towards implementing sophisticated information technologies in various business activities. Hence, after reading the article business professionals are more prepared for the future changes that the Internet-of-Things technologies may bring into their industries.
