What the 4th industrial revolution means for fund managers

THE morning alarm goes off. You struggle to get off the bed. Sleep was at best shallow. As you feel your way to the kitchen, the sensor in the smart alarm relays a message to the coffee machine that you need your staple coffee fix. The coffee aroma wafts through the corridor. The first sip perks you up as you mull an important meeting an hour away. You shower, pick up your smart glasses, and just as you were leaving, sensors in the coffee machine send an order to replenish the arabica beans which will run out the following day. You get onto the awaiting drone taxi which detects your mood at the time of boarding and plays a tune, which the smart player knows, through mining thousands of data points, will give you the confidence needed to convince your colleagues to back your team's project.

The internet of things (IoT) as illustrated above can dramatically improve the quality of life. Every item like the alarm clock is equipped with sensors which picks up data to be transmitted to another item like the coffee machine. This interconnectivity means by the time you have made your way to the kitchen, the freshly brewed coffee is right before you. Sensors can also pick up your facial expressions to determine which coffee setting appeals to you - was the water temperature too high for your liking or was it just perfect. Over time, through thousands of data points, the coffee machines learn. They learn what you prefer and what you feel is drinkable. They are also able to learn a great many things about your personal life including your music preference - ain't machine learning or artificial intelligence (AI) truly remarkable.

The internet of things refers to an interconnected system whereby objects or things such as alarm clocks, washing machines, TVs, smart watches and every conceivable object or things sense and collect data to be utilised by other object of things via an internet connection.