New business and revenue models are expected to emerge as a result of edge technologies in the next three to five years.
This is one of the findings presented in a new book titled “Opportunity at the Edge: Change, Challenge and Transformation on the Path to 2024”, launched by Aruba Networks in partnership with Fast Future.
This week, wireless networking vendor Aruba is hosting the 10th instalment of its EMEA Atmosphere conference in Sibenik, Croatia; where over 2 000 delegates have gathered to hear about approaches to technology in the era of edge computing and explore the company’s edge enterprise solutions.
The findings presented in the book show edge computing will create transformative business opportunities for industries in all facets of the economy, using data to understand customers and tailor services to needs.
Furthermore, three key trends have been identified, most notably that the edge of the network holds the key to industry transformation. The study also determined that one-third of businesses will create edge-enabled mainstream personalisation by 2025 and that new benefits from the edge will be realised.
“The next five years will mark a dramatic enterprise shift toward the edge of networks, where emerging technologies can be harnessed to radically improve user experience, transform business models and generate vast revenue opportunities,” said Rohit Talwar, CEO of Fast Future.
The book, based on in-depth qualitative interviews with 19 global CIOs, technology leaders and industry experts, examines technology, IT and enterprise trends in the journey towards the next era of computing. The respondents come from sectors such as health, education, retail, hospitality and the public sector.
As part of the study, a broad survey to test emerging ideas and additional perspectives from 200 business and technology future thinkers across Fast Future’s global network was also conducted, added Talwar.
At the core of the research is establishing the technologies that make things possible and the opportunities they create; secondly, how should organisations adapt the way they think and behave to take advantage of the changes; and thirdly, when pushing activity to the edge of the network, how do companies manage the security challenges, he noted.
Citing the study findings, Talwar noted the areas of emerging business and revenue models at the edge as being facial recognition and biometrics, commercial application of the Internet of things data, hyper-personalised instant offers, demand-driven and location-specific pricing and subscription models for everyday purchases such as food and clothing.
“When we talk about the edge, we are really talking about that point where users and devices connect to the network…enabling new business and revenue models, as well as the emergence of wholly new industry sectors.
“To access the opportunities of the edge, companies need a mindset shift to drive both structural and strategic change. Leaders must take responsibility for navigating the journey to the edge, working hand-in-hand with IT to pursue open technology options, and maintaining a consistent dialogue with employees, customers and other key stakeholders. Focused experiments, with clearly defined goals, proactive project owners and dedicated resources are likely to be the best way forward.”
Morten Illum, EMEA VP at Aruba, also shared comments about the study, saying: “The findings in this book highlight the vast commercial potential for enterprises utilising edge technologies, if companies are willing and able to enact the considerable organisational changes needed.
“The edge represents a dramatic overhaul in how companies understand, service and meet the needs of their customers and employees. It will be a world defined by dynamic, immediate and personalised services.”
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