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Internet of Things Forecast Book 2018

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Being successful in the digital age doesn’t just require knowing the latest buzzwords; it means identifying the transformational trends – and where they’re heading – before they ever heat up.

BI Intelligence

Take the Internet of Things (IoT), for example, which now receives not only daily tech news coverage with each new device launch, but also hefty investments from global organizations ushering in worldwide adoption. By 2023, consumers, companies, and governments will install more than 40 billion IoT devices globally. And it’s not just the ones you hear about all the time, like smart speakers and connected cars.

To successfully navigate this changing landscape, individuals and organizations must understand the full extent and functionality of the “Things” included in this network, the key drivers of each market segment, and how it all relates to the work they do every day.

Business Insider Intelligence, Business Insider’s premium research service, has forecasted the start of the IoT’s global proliferation in The IoT Forecast Book 2018— and the next five years will be transformational for consumers, enterprises, and governments.

  • Consumer IoT: In the US alone, the number of smart home devices is estimated to surpass 1 billion by 2023, with consumers dishing out about $725 per household — a total of over $90 billion in spending on IoT solutions.
  • Enterprise IoT: Comprising the most mature segment of the IoT, companies will continue pouring billions of dollars into connected devices and automation. By 2023, the total industrial robotic system installed base will approach 6 million worldwide, while annual spending on manufacturing IoT solutions will reach about $450 billion.
  • Government IoT: Governments globally are ushering in IoT devices to spur the development of smart cities, which would be equipped with innovations like connected cameras, smart street lights, and connected meters to provide a real-time view of traffic, utilities usage, crime, and environmental factors. Annual investment in this area is expected to reach nearly $900 billion by 2023.

Want to Learn More?

People, companies, and organizations all over the world are racing to adopt the latest IoT solutions and prevent growing pains amidst a technological transformation. The IoT Forecast Book 2018 from Business Insider Intelligence is a detailed three-part slide deck outlining the most important trends impacting consumer, enterprise, and government IoT — and the key drivers propelling each segment forward.

Representing thousands of hours of exhaustive research, our multipart forecast books are considered must-reads by thousands of highly successful business professionals. These informative slide decks are packed with charts and statistics outlining the most influential trends on the leading edge of your industry. Keep them for reference or drop the most valuable data into your own presentations to share with your teams.

Whether you’re newly interested in a topic or you already consider yourself a subject matter expert, The IoT Forecast Book 2018 can provide you with the actionable insights you need to make better decisions.

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Canadian tech diversity and inclusion in the spotlight

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Diversity and inclusion are hot-button issues, but for all the attention they get, there’s still work to be done in the tech sector, according to a recent Gartner blog.

Citing a range of challenges that include pay inequity, lack of diversity in corporate management, and difficulty recruiting diverse talent, the blog suggests three possible remedies for organizations trying to become more diverse and inclusive: having a long-term plan but focusing on one aspect that will make the most benefit, setting targets and making leadership accountable, and committing resources.

The call for such strategies finds support in a report from the Brookfield Institute revealing that Canada’s technology sector has a disappointing track record when it comes to inclusion and equity, with women “four times less likely to be employed in the sector than men, and earning on average $7,300 less than men in technology jobs.”

The findings are just as grim in a January 2020 report funded by Canada’s Future Skills Centre. According to this document, despite corporate commitments to diversity, “decades of initiatives designed to advance women in technology have scarcely had an effect: The proportion of women in engineering and computer science in Canada has changed little in 25 years.”

And women are not the only disadvantaged group, says the report. “The under-employment of skilled immigrants and under-representation of women and other groups in the ICT industry suggests that recruitment and retention policies and practices of the very firms complaining about this [skills] gap may be contributing to the problem.”

Until we do a better job of addressing inclusion and diversity, career opportunities will continue to be limited for women, internationally educated professionals, racialized minorities, First Nations, Inuit and Métis people. In addition to being a very human issue, this is also one that perpetuates the ICT skills gap by failing to tap into a supply of well-qualified labour.

On the bright side, there are technology companies and organizations across Canada that are truly determined to create opportunities for those who are under-represented in the digital talent pool. There is also an opportunity to recognize their efforts during Channel Innovation 2021: Adapting to the New Customer Experience, a 2.5-hour, virtual event on April 28, 2021.

A showcase for independent software vendors (ISVs) and Canadian channel innovators, the Channel Innovation 2021 celebration will take place on CIA-TV, a unique ITWC platform that allows the audience to take in the show, download related content and videos, and network in live breakout rooms. There are six award categories, including the C4 Award for Diversity and Inclusion. Nominating is simple. Whether a self- or third-party nomination, there are only two main questions to answer and an opportunity to include a supporting document or image.

Winning entries will be announced during the celebration and profiled in the Channel Daily News Magazine and in Direction Informatique, ITWC’s French-language publication devoted to the Quebec marketplace. They will also receive a digital badge for use on their websites and on social media to help gain industry-wide recognition and end-user exposure.

The media attention and recognition are reason enough to vie for this honour, and we always need things to celebrate during a global pandemic, but the real value in awards for diversity and inclusion is in setting an example for others to follow. The news is full of the ways we are falling down when it comes to equity in the IT sector. Let’s take some time to highlight the success stories and encourage other tech innovators to step up.

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Leading Canadian tech entrepreneur Saadia Muzaffar to give virtual keynote in Peterborough on March 9

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In celebration of International Women’s Day, one of Canada’s leading female tech entrepreneurs will be giving a virtual keynote for residents of Peterborough and the Kawarthas on Tuesday, March 9th at 7 p.m.

The Innovation Cluster is hosting Saadia Muzaffar as part of its ‘Electric City Talks’ series.

Muzaffar is a tech entrepreneur, author, and passionate advocate of responsible innovation, decent work for everyone, and prosperity of immigrant talent in science, technology, engineering, and mathematics (STEM). She is the founder of TechGirls Canada, a hub for Canadian women in STEM, and co-founder of Tech Reset Canada, a group of business people, technologists, and other residents advocating for innovation that is focused on the public good.

In 2017, Muzaffar was featured in Canada 150 Women, a book about 150 of the most influential and groundbreaking women in Canada. Her work has been featured in CNNMoney, BBC World, Fortune Magazine, The Globe and Mail, VICE, CBC, TVO, and Chatelaine.

Muzaffar’s March 9th talk, entitled ‘Redefining Term Sheets: Success, Solidarity, & The Future We Want’, will inspire women to achieve success in all areas of life, including in business by providing strategies for obtaining funding.

“It is impossible to explain how women only get 2.2 per cent of funding for their ventures while we constitute a majority of the population, without acknowledging long-standing structural and systemic bias,” Muzaffar says, describing her talk. “Women know these odds in our bones because we feel them in too many boardrooms, banks, media advertisements, and venture competitions — yet women are the fastest-growing demographic in new businesses.”

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ARK’s Cathie Wood joins board of Canadian tech firm mimik

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ARK Invest’s Cathie Wood is joining the board of Canadian technology company mimik.

Vancouver-based mimik is an edge computing company that effectively turns devices like phones into private cloud servers. It has already teamed up with Amazon Web Services and IBM on edge computing – two of the bigger players in the space.

The AWS partnership gives software developers access to mimik’s cloud platform. Together, edge devices including smart phones, tablets, and Internet of Things (IoT) products can act as extensions of the AWS cloud. With the IBM partnership, mimik’s technology will be included in automation and digital transformation across manufacturing, retail, IoT and healthcare.

All of mimik’s business lines fit in with Wood’s broad ‘next generation internet’ thesis, one of her big five investment themes. The company itself is private and Wood is not an investor. 

However, as Citywire noted in January, Wood has hinted in interviews that ARK is exploring the launch of a private markets strategy. 

Wood joins a relatively high profile board at mimik. Other members include  Allen Salmasi, a pioneer in mobile technology who was previously with Qualcomm, and Ori Sasson, managing director of Primera Capital, who was an investor in VMWare and other technology companies.

‘I’ve always believed in backing founders who are at the forefront of innovation,’ Wood said in a statement on her decision to join mimik. ‘At mimik, [they] have built a foundation for the next generation of cloud computing.’ 

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