Several ventures now under way in developing countries show how networks of connected machines can drive economic growth. – See more at…
By Ladan Davarzani & Mark Purdy Fall 2015
A new force for growth is emerging in some of the world’s poorest regions, and it leverages some of the world’s most advanced technology. The Internet of Things (IoT)?a model that uses networks of Internet-enabled devices that often operate without human intervention?might appear to have limited applicability to the world’s least-developed economies. But many elements of the IoT model, such as cheap sensors and wireless technologies, are remarkably well suited to conditions in poor countries. Organizations of all kinds are creating and using IoT networks to deliver new solutions that can increase living standards, and they are doing so without the need for large financial investments or the heavy involvement of state bureaucracy.
Drawing from interviews, published reports, and other sources, we have investigated the global potential of IoT technology. In the course of that research, we have identified three ways in which IoT capabilities can promote economic growth.?See more at