The Internet of Things (IoT) is changing our world at a breathtaking speed. Analyst firm Gartner predicts that there will be 20 billion IoT-enabled devices in the world by 2020 – that’s greater than 30 percent annual compound growth. And Bain predicts that the combined IoT market will grow to $520 billion in 2021, more than twice the $235bn spent in 2017.
With the world becoming so connected, so quickly, how will it impact how companies and customers interact? And what does it mean for customer experience as we know it?
Conall Laverty founded a company called WIA to help developers and tech companies build connected devices more easily and efficiently. He was recently named in the prestigious Forbes 30 under 30 list, and he is the guest on this episode of Voxpro Studios.
In this episode Conall talks about:
- How the theft of his bicycle was a catalyst for starting his company
- His problem with the term ‘Internet of Things’
- How the IoT has transformed CX through personalisation
- Gamifying the customer experience
- Concerns around data and security
- Catching the attention of Forbes
In the following extract, Conall looks ahead to what customer experience will look like in 20 years’ time.
“I think hyper personalisation will be a key thing. We will see wearables grow even more [popular] and for the next form of wearables one of the things people are talking about at the moment is how Apple’s EarPod product is going to be used for health tracking. So suddenly your health monitor is in your ear all day while you’re listening to music. I think that’s one of the big things.
“There will be such a focus on health. That’s where Apple are going as a company. We’re seeing things like declining iPhone sales because they are actually changing as a company. Apple aren’t in trouble. I think they know what they’re doing. They’re actually just becoming a healthcare provider and that’s why you’re seeing these series of products and that’s where they will be in about ten years’ time. They will be providing the insurance premium and potentially even linking with the hospitals and providing the healthcare itself. It’s because they have this massive data set. They know a lot about you, they know what your heart rate is and you can tell a lot of things from someone’s heart rate. You can tell when they train, when they do any other sort of extracurricular activity. You can tell where they have been and how active they are, you can tell how long they spent sitting. They can also see your mental health based on your screen time and your obsession with particular apps and what types of apps they are.
“So they know a lot about your profile and that’s why in about ten or 15 years, you will see companies like that, and potentially Google as well, becoming these key components in providing the future of health.”
If you enjoyed this podcast, be sure to check out some of our other episodes such as our interview with Lupe Gonzalez, VP of Customer Experience at Headspace and Carl Dempsey, VP of Solution Engineering, EMEA at Salesforce.