New Business Models on the Intersection of IoT, AI and Blockchain

03:33 PM CET - July 13, 2018
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The dream of making money with IoT, AI and Blockchain

Have you ever thought about how could you make money with the Internet of Things (IoT) or Artificial Intelligence (AI) and of course with Blockchain?  What would happen if you could use the three of them in a new business model?  Apparently, Success, Success and Success.

In the next sections, I provide information on some business models achieved with these three technologies.

IoT Business Models

As IoT moves past its infancy, certain trends and economic realities are becoming clear. Perhaps the most significant of those is the realisation that traditional hardware business models just don’t work with the Internet of Things. Take a look at “The top 5 most successful IoT business models” that have emerged as particularly useful applications for IoT.

If any of you is building an IoT product, this article ” IoT Business Models For Monetizing Your IoT Product”  shows how to make money with the Internet of Things.

Zack Supalla, the founder and CEO of Particle, an Internet of Things (IoT) startup, suggest “6 ways to make money in IoT”.

Finally, in “How IoT is Spawning Better Business Models” we can read three ways companies like Rolls Royce, Peloton, MTailor or STYR Lab are rethinking their business model and have created a revolution in the marketplace. 

Blockchain Business Models 

It sounds repetitive, but yes "Blockchain technology may disrupt the existing business models”. The authors´ s findings concerning the implications of blockchain technology for business models are summarised in the following picture.

Source: Jeremiah Owyang

Do you think that blockchain will likely to cut into big-players’ revenues? Then, this article: “New Blockchain-Based Business Models Set to Disrupt Facebook and Others”, is for you.

If you are ambitious and you are planning to build a viable business on the blockchain, then read “Building an International Business Model on Blockchain”.

I am also an advocate of the coming era of decentralisation (at least in my most optimistic version), and Blockchain is a step towards creating value when the End of All Corporate Business Models arrives.

AI Business Models 

Companies from all industries, of all shapes and sizes, face an important set of questions: Which AI business models and applications can I use? And what technologies and infrastructures are required?.

It seems that we all are convinced that artificial intelligence is now the most important general-purpose technology in the world that can drive changes in existing business models. Not surprised then, that AI is Revolutionizing Business Models.  This is the “data trap” strategy that, in venture capitalist Matt Turck’s words, consists of offering (often for free) products that can initialise a data network effect. In addition, the user experience and the design are becoming tangibly relevant for AI, and this creates friction in early-stage companies with limited resources to be allocated between engineers, business, and design.

This article introduces  some good examples of AI business models :

New Business models with the intersection of IoT, AI and Blockchain

With IoT, we are connecting the Digital to the Physical world. Connected objects offer a host of new opportunities for companies, especially regarding creating new services. The amount of data generated by the billions of connected objects will be the perfect complementary feed to many AI applications. Finally, blockchain technology could be used to secure the ‘internet of things’ and create smart contracts in a decentralised infrastructure that boost the democratisation of technology and the creation of sustainable communities.

You must remember that new business models that include IoT, AI and blockchain need among other characteristics: Volume and Scalability. Volume of devices, Volume of data, Volume of customers, Volume of developers and powerful ecosystems to escalate. 

Good luck in your search and implementation of your new business model.

Thanks for your Likes, Comments and Shares

Image Credit: Yuganov Konstantin/Shutterstock
Edited on: Oct. 5, 2018, 2:28 p.m.

Artificial Intelligence, Internet of Things | tags: internet of things, IoT, business model, Artificial Intelligence, blockchain

Article Author: Francisco Maroto

Francisco Maroto is CEO and founder at OIES Consulting, an IoT Consulting and Business Development company.

Business/technology executive with rigorous cross functional leadership experience in driving solutions for Telco, IoT, Edge Computing and AI.
Deep functional expertise in strategy development, product management, business development, alliances and partnerships.
Key Business Skills -- Creative problem solving | Self-Control and willingness to resist vacillation | Excellent Communication
Globally recognised as one of the top IoT and Telco advisor and leading voices on the state of the IoT market.
Prior to starting my own IoT Advisory firm, I lead the Telecoms industry working for leading companies like Microsoft, Oracle, Amdocs, SAP, HP, Vodafone and Indra.
Driven to advice technology vendors, enterprise customers and Startups in:
 - How to leverage emerging technologies and solutions to drive business and digital transformation initiatives
 - Business Development and Defining Go-To-Market Strategy
 - Establishing key partnerships
 - Develop new products and services with IoT, Edge Computing, AI, Blockchain, Cloud, Mobile and Data Analytics.
- Working with key customers
I regularly speaks at industry trade shows, conferences, and seminars and I write regular columns on IoT.
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