11/18/2024 | News release | Distributed by Public on 11/18/2024 18:55
On October 22, the National Institute of Standards and Technology ("NIST") Internet of Things ("IoT") Advisory Board released the Internet of Things Advisory Board Report, which concludes that IoT development has progressed more slowly than anticipated and identifies 26 findings that explain the slower pace of development and growth. The Report offers 104 recommendations on how the government can help foster IoT development. The Advisory Board provided this report to the IoT Federal Working Group emphasizing that an IoT transformation will boost U.S. economic growth, increase public safety and national resilience, create a more sustainable planet, individualize healthcare, foster equitable quality of life and well-being, and facilitate autonomous operations of our national infrastructure. For background, the IoT Federal Working Group was established by Congress in 2020 and was charged with identifying policies and statutes inhibiting IoT development and consider recommendations of the Advisory Board.
The Findings: Although IoT was previously projected to produce up to $216 trillion in value for the global economy, the Report concludes that IoT growth has slowed. The Report identified 26 findings as to why IoT innovation has failed to reach projected goals. Key findings include:
The Recommendations: The Report identifies 104 recommendations grouped into categories to help foster IoT development once again reiterating the underlying premise that IoT transformation will boost U.S. economic growth, public safety, and national resilience, among other benefits. Key recommendations offered by the Report include:
Create an IoT-Ready Workforce: In order to foster workforce development and empowerment, the report recommended that Congress and local governments collaborate with industry, academia, and state and local governments to align educational and training efforts with the evolving demands of the IoT sector, which will help ensure a well-prepared and adaptable workforce.