How businesses can reshape themselves by upskilling people in IoT

Over the last decade, the world of information technology (IT) has undergone significant transformation. Big data, social media, analytics, and cloud computing have altered the entire technosphere.

A wide set of behavioural data, digital transactions, and easy and faster access to information have resulted in the rise of Internet of Things (IoT) and Artificial Intelligence (AI), and the possibilities appear limitless.

IoT has already had a notable impact on businesses and consumer trends, and has even permeated the society. From healthcare and retail to BFSI and manufacturing, every industry is becoming smarter, thanks to the Internet of Things.

This year has seen sky-rocketing increase in the number of connected, IoT-enabled devices, and failing to remain ahead of the competition in this market can lead to significant losses and being left behind.

Embracing automation requires a shift in strategy. It’s imperative to train employees in IoT to embark on an adventurous path that promises to mould an unimaginable digital future.

According to NASSCOM's recent 'State of IoT: The Post Pandemic Resurgence' report, with IoT investments predicted to go up to $15 billion in 2021, building IoT technologic skills at scale will be required in the next 4 to 5 years. Thus, workforce upskilling in IoT has become the need of the hour for organisations. And there are a few good reasons why IoT training should be your priority.

Enhance productivity and work safety

By adopting IoT solutions in organisational operations, repetitive jobs can be automated, freeing employees' time for more vital tasks that call for personal skills and the ability to think beyond the box. This way, the number of hours required for simple routine tasks will be minimised, thus, enhancing the overall productivity.

Additionally, IoT solutions help improve safety by reducing the probability of human error at various stages of corporate operations. On the other hand, safe working conditions and workplace efficiency increase the company's appeal to investors, stakeholders, and employees, enhancing reputation and trust in the brand.

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Boost marketing & business development

In-home smart devices such as voice assistants and other appliances that may regularly interface with end-users are an excellent source of information for business analysis.

IoT aids businesses by collecting vast amounts of user-specific data that can be used to create business strategies, target advertising, fine-tune pricing policies, and perform other marketing and management operations.

To leverage this power of IoT, organisations require an IoT empowered workforce.

New business opportunities

Leveraging IoT solutions allows organisations to provide a greater and diverse selection of services and products or improve the quality of those services and products compared to their competition, all while maintaining the same pricing.

Such businesses can also take on more complex projects, like those requiring more time for completion or greater quantities of merchandise. Having an IoT fluent workforce increases a company's competitive edge and attractiveness as a business partner, opening doors for new business opportunities.

Even though the phrase "change is the only constant" has been overused, its significance has not waned. IoT is a journey that needs careful handling and interpretation of data to optimise the experience for the end-user.

Given today's unpredictable and fiercely competitive environment, organisations must be agile, adaptable, and flexible in their mindset and work culture. People of an organisation must first be adept in executing work in order to retain a strong pipeline of IoT-savvy employees.

Train your existing workforce so they can understand the IoT technology and the big picture that lies beneath it. Organisations can leverage the full potential of IoT when more employees get familiar with it.