Harvard i-lab | The Business of the Internet of Things with Chad Jones | Summary and Q&A

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October 29, 2013
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Harvard Innovation Labs
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Harvard i-lab | The Business of the Internet of Things with Chad Jones

TL;DR

The Internet of Things (IoT) has the potential to transform industries and create new opportunities for businesses and individuals alike.

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Key Insights

  • 🎮 The IoT has the potential to create a 21st-century industrial revolution by connecting and controlling physical products.
  • 💼 IoT use cases are limitless, ranging from optimizing businesses to creating new experiences and services.
  • 📁 Monetization strategies for IoT solutions include direct sales, solution selling, and strategic partnerships.

Transcript

thank you Harvard for for hosting me an extension engine for uh helping us get this opportunity a couple clarifications one the all those things didn't happen at once so the beach volleyball was many years ago and I was a a little bit younger a little bit younger all right um but yes I have been fortunate enough to be through been through several A... Read More

Questions & Answers

Q: How can the IoT spark a 21st-century industrial revolution?

The IoT enables the connection and control of physical products, allowing for new use cases and economic impact. This can lead to increased efficiency, productivity, and innovation across industries.

Q: What are some potential use cases for IoT?

Use cases include predictive maintenance, supply chain optimization, access to dark data for engagement patterns, asset tracking, energy consumption monitoring, and even fun applications like game experiences.

Q: How can IoT solutions be monetized?

Companies can monetize IoT solutions through direct sales, solution selling, partnerships, and channel strategies. It is important to determine the true cost of the service and understand the market potential for pricing decisions.

Q: How can startups succeed in the IoT market?

Startups should focus on solving pain points for customers, create unique value propositions, and find strategic partnerships. They should also surf the wave of larger companies' marketing efforts and position themselves as thought leaders in the industry.

Summary & Key Takeaways

  • The speaker shares his experience with startups and acquisitions and expresses excitement for the potential of the IoT to drive a 21st-century industrial revolution.

  • The IoT, combined with mobile and sensor technologies, has the power to connect and control everything in our world, leading to limitless use cases and economic impact.

  • Opportunities in IoT range from building connected products for sale to optimizing businesses and creating solutions for various industries.

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