The Dilemma of Smart Things
Everything in the digital age is connected.By 2025, the market for the internet of things (IoT) is expected to reach 75.44 billion connected devices and have a market value of $1.1 trillion by 2026.
Businesses must confront the “beta burden” and the unintended consequences of smart technology, smart products, and the experiences they contain, in order to fully capitalize on this opportunity.
Smart products’ functionality can now be altered or an ecosystem’s configuration changed over time.In any case, they need to ensure that the client experience stays steady and upheld all through this multitude of changes.Customers won’t settle for less.The benefits of “forever beta” products are obvious:True partners are those businesses that are able to respond immediately to shifting customer demands and expectations.
The product’s value rises as a result.However, customers may become dissatisfied and feel left out amid the constant stream of updates and modifications.In the post-digital era, businesses must update their understanding of product ownership and adapt their operations accordingly.