The Internet of Things will give rise to the algorithm economy — from blogs.gartner.com by Peter Sondergaard
Excerpt:
It’s hard to avoid. Almost every CEO’s conversation about how IT is driving innovation inevitably comes back to the potential of big data. But data is inherently dumb. It doesn’t actually do anything unless you know how to use it. And big data is even harder to monetize due to the sheer complexity of it.
Data alone is not going to be the catalyst for the next wave of IT-driven innovation. The next digital gold rush will be focused on how you do something with data, not just what you do with it. This is the promise of the algorithm economy.
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Algorithms are already all around us. Consider the driver-less car. Google’s proprietary algorithm is the connective tissue that combines the software, data, sensors and physical asset together into a true leap forward in transportation. Consider high frequency trading. It’s a trader’s unique algorithm that drives each decision that generates higher return than their competitors, not the data that it accesses. And while we’re talking about Google, what makes it one of the most valuable brands in the world? It isn’t data; it’s their most closely guarded secret, their algorithms.
A brave new world of opportunities
Where does this ultimately lead? Software that thinks. Software that does. Cognitive software that drives autonomous machine-to-machine interactions. Dare I say artificial intelligence? I dare. I did.
From DSC:
Besides Training/L&D departments and those developing strategy & vision within the corporate world…Provosts Offices take note. Computer Science programs take note. Interested students take note. Those who want to take a right turn in their careers take note.