Unlocking the potential of the Internet of Behavior

Summary: The Internet of Behavior (IoB) is a relatively new concept built on the Internet of Things (IoT) foundations. IoB is a technology of the Fourth Industrial Revolution (4IR). It integrates data from various sources, such as social media, wearable devices, and other internet-connected devices, to provide insights into people’s daily lives and behavior. In this article, Dr. Mythili Kolluru probes to reveal the characteristics, origin, prospects, risks, adaptability, and career opportunities of the relatively new emerging technology trend.

Introduction

Retired psychology professor Gote Nyman from the University of Helsinki first described the Internet of Behavior in 2012. The former professor conceived the concept that behavior could be data mined. Gartner predicts that by the end of 2025, over half the world will be subject to at least one IoB program, private, commercial, or governmental. Gartner stated in its 2021 strategic predictions that IoB applications would increase in our daily work and lives. IoB has recently gained significant attention and interest in the technology industry and academics. The 4.0 Industry is characterized by integrating advanced technologies such as IoT, artificial intelligence, big data analysis, 3D printing, genetic engineering, quantum computing, robotics, and other technologies to create smart connected systems that enable more efficient, flexible, and automated production processes. The 41R is transformative and has opened an unprecedented change in human lives. 

The Internet of Behavior is an evolution of IoT and a natural progression of 4.0 Industry. The Internet of Things (IoT) refers to a network of physical devices, vehicles, and home appliances embedded with sensors, software, and connectivity, allowing communication and data exchange. Though IoT and IoB are distinct concepts, there is a relationship between them, and they build on each other to enable more advanced and sophisticated technology applications. IoB leverages advanced analytics and artificial intelligence to gain insights into human behavior, which can be deployed to personalize experiences, optimize processes, and improve decision-making. IoB mainly concerns how people interact with technology, make decisions, and behave in situations and circumstances. It combines IoT data with various sources such as social media, demographic data, and location data to enable organizations to gain insights into consumer behavior. 

Working and industry applications of IoB

It relies on vast amounts of data from various sources, including social media and other internet-connected devices. The data thus collected is analyzed using advanced analytics and machine learning techniques to identify patterns and insights into people’s behavior and preferences. IoB involves tracking and monitoring people’s behavior in real-time. IoB is often integrated with other technologies, like artificial intelligence, to leverage the insights to tailor services and experiences to meet individual needs and preferences.

The adoption and implementation of the IoB are still in their early stages. It has numerous potential applications across a wide range of industries and sectors. IoB can create more sophisticated, efficient, and practical experiences for individuals and organizations. Several countries across the world are actively using IoB technology. However, some countries with lower technological development, limited internet connectivity, and stricter data privacy regulations will be less likely to leverage IoB technology. The USA is leading in the research and development of IoB. China is also a significant player in this technology. The Chinese government is investing heavily in IoB technology. Japan has effectively used IoB in the healthcare, transportation, and manufacturing sectors. Other countries like South Korea and the EU members are actively leveraging IoB. The BRIC (Brazil, Russia, India, China) countries have large populations and rapidly growing economies. They may have a growing interest in leveraging IoB technology to improve their healthcare systems, transportation systems, and other areas.

It can be applied across a wide range of industries and sectors. IoB finds usage and application in various sectors like marketing, healthcare, financial services, smart cities, education, transportation, manufacturing, and security. Many corporations have used IoB to increase sales and customer satisfaction. Amazon uses IoB to personalize the shopping experience by collecting and analyzing data on customer browsing, purchase history, and behavior on the website. Amazon is enabled to tailor-make products and services to its customers. Tesla collects and analyzes data related to using their cars, such as driving behavior, preferences, and performance. Tesla uses this data to enhance the driving experience, improve vehicle performance and create new features and services. Tata Consultancy Services, an IT services company, uses IoB to develop solutions for its clients in various sectors like health care, finance, and retail. They also use IoB to analyze market trends and industry benchmarks. Apollo hospitals use IoB to understand patient behavior and preferences and monitor health and wellness. Apollo has leveraged IoB to develop personalized treatment plans, improve patient outcomes and optimize hospital operations. Like Apollo hospitals, Reliance Jio has also used IoB to analyze consumer preferences and behavior data. They developed new products and services and optimized their processes. IBM has used IoB applications to create customized solutions to improve client engagement. Coca-Cola deploys IoB to develop new marketing campaigns suited for specific customer segments and market niches, thus increasing brand loyalty. These are some examples to illustrate the application of IoB across organizations. As technology continues to evolve, the become more widespread, the world will witness an increased adoption and implementation of the technology in various sectors.

IoB technology challenges and career opportunities

Despite the increased usage of IoB technology and its increased attention over the past few years, some challenges associated with IoB cannot be undermined or overlooked. The collection and use of personal data raise significant privacy concerns. IoB technology involves using personal data, which becomes vulnerable to data breaches and cyber-attacks. Critical ethical issues like biases and the potential of discrimination in decision-making could become a significant concern in the future. Another challenge is that over-reliance on technology could lead to a future lack of human interactions and decision-making. There are many ethical and privacy implications for using personal data.

Despite the challenges posed by the Internet of Behavior, organizations and individuals must develop protection measures for individual rights and leverage emerging technologies to improve decision-making, enhance personal and organizational efficiency, and personalize experiences. The advent of new technologies creates a requirement for new skills and learning. The Internet of Behavior is a relatively new technology. Still, it has already created career opportunities in data analytics, cyber security, marketing, and software engineering across various industries and professions. Some of the career options are.

  • data analyst is a professional responsible for collecting, processing, and analyzing large amounts of data IoB applications generate. They identify patterns and trends and drive business decisions.
  • cyber security professional protects against cyber-attacks and other security risks.
  • marketing analyst or digital marketer uses IoB consumer behavior and preferences data to design and develop targeted marketing campaigns.
  • user experience (UX) designer is responsible for designing user interfaces and experiences for IoB applications and devices.
  • software engineer develops and maintains the software that powers the IoB applications and devices.
  • business intelligence analyst analyzes data from IoB applications to provide insights to optimize business operations.
  • An IoT architect designs and develops the hardware and software systems that enable IoB devices and applications to communicate with each other and the cloud.
  • data scientist uses advanced statistical and machine learning techniques to analyze IoB data and develops predictive models to anticipate consumer behavior and optimize business processes. 

Conclusion

The Internet of Behavior (IoB) is complex and rapidly evolving concept which has the potential to transform the way humans interact with technology and the world around us. The potential benefits of IoB include improved customer experiences, more personalized marketing, and better healthcare outcomes. However, it is essential for individuals, businesses, and policymakers to consider the potential benefits and risks of IoB carefully and to take steps to ensure that it is used responsibly and ethically. This includes implementing strong privacy protections, obtaining informed consent, and being transparent about data usage and collection practices. The world has yet to realize its full potential, risks, and impact as it develops. 

References

“The Internet of Behavior: A New Frontier of Data-Driven Marketing” by Steven Van Belleghem and Peter Hinssen in Forbes (2019).

“The Internet of Behaviour: A Game Changer for Digital Marketers?” by Tamara McCleary in Forbes (2019).

“Internet of Behaviour: Shaping the Future of Big Data Analytics” by Vishal Kumar in Analytics Insight (2020).

“Internet of Behavior (IoB): The Future of Personalized Customer Experience” by Dipanjan Chatterjee in MarTech Advisor (2020).

“The Internet of Behaviors (IoB): When the Internet Knows You Better Than You Know Yourself” by Pedro Bizarro in Data Science Central (2020).

“Internet of Behaviors: A New Era of Personalization and Data Analytics” by Raj Singh in DZone (2020).

“IoB (Internet of Behaviors) and AI: The Future of Personalized Healthcare” by Hemant Kumar Mehta in Analytics Insight (2021).

“The Internet of Behavior: Is This the Next Big Thing in Customer Experience?” by Richard Jones in ClickZ (2021).

“The Internet of Behaviors: A Step Towards a Smarter World” by Yousra Rzouki in Towards Data Science (2021).

“The Internet of Behaviors: Why This Emerging Technology Matters” by Anant Mishra in Entrepreneur (2021).

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