The Information Technology sector is a fascinating aspect since it is dynamic, but the basics are still intact. For the modern businesses to thrive, how efficiently you do the networking will play a huge role. For a country like Ireland, many factors affect the future of its economy, including Brexit and technological innovations in the country. The fact that the state takes pride in the Internet of Things (IoT) introduces another aspect in the consequences of economic forces.
With reliable connectivity, it is possible to spur any form of growth. Also, technological advancements in a country mean better management and efficiency of economic aspects. For instance, with the Brexit effects already in place for Ireland, how the nation utilizes such elements influences the future. Machine-to-Machine (M2M) networking has many benefits, internally and externally, and the beneficiaries will be the Irish government.
Business perspectives
Any country with a thriving business culture will always be ahead of the rest. On the other hand, the scope of the business yields determines the thriving of the venture. Many aspects define the direction and pace of a country regarding financial and economic progress. With proper networking, communication and transactions become more profitable. In such a case, data and information become a crucial part of the country management system.
Tracking and monitoring of objects are one of the more significant benefits that come with M2M. From a business perspective, accountability prevents losses, and this is healthy on a large scale. If the Irish government utilizes this technology in all the sectors, it is possible to break the Brexit confinement. Of course, the market for goods was affected by this exit and alternative routes will be a relief for the country. Since this IoT technology poses zero health risk to humans, it is compatible with all types of business, including data monitoring for consumer goods.
For instance, with the M2M technology, manufacturers can trace their goods. Sometimes, the products that reach the consumers are the imitations, which are of course of poor quality. If the product developers can determine the response of their goods from the market, it will be possible to give the consumers what they need. Although this seems like a small-scale goal, the impact over the years is overwhelming, as the Irish products might receive recognition on a global scale.
Economic perspective
The impact of technology on a country’s economy is grand. For a country like Ireland, the stability of the Sterling pound affects the economic stability. Recently, the country held a summit to think of how Machine-to-Machine technology could have positive results in the economy. The accountability and reliability aspects of this technology are of concern, especially for the main sectors in Ireland. Brexit had a direct effect on production costs of this country and any effort to standardize the situation will help.
To begin with, in-flight and e-commerce are among the easiest economic boosters that a country would invest in. In addition, energy and health sectors influence the economy largely, especially when sustainability is in question. For the energy sector, monitoring of power usage, especially in the public sector, will definitely reduce losses and enhance sustainable countrywide energy utilization. In combination with the EU’s demands in the energy sector, Ireland might be leading in the economic prosperity in the coming years.
M2M networks provide databases for storage of any information between the connected objects. This gives a reference platform for the users, which contrasts to when someone is entrusted to key-in the data. For a prosperous economy, this would serve to create integrity and accountability in the main sectors of the economy. With Ireland being the pioneers of this technology, the systems would be useful in assuring no economic blunders happen. This is, of course, a technological effort in boosting the sectors defining the Irish economy.
The future
What would happen if the Irish government, foregoes IoT and Machine-to-Machine technology? Will there be some impact? The answer would be yes since technology brings in transformation and the subjects have to adopt. The difference would come in the manifestations of these advancements, in both the economic and business sectors of the country. The strategy is vital to ensure the energy that M2M brings gets incorporation to benefit the country. However, the benefits of this technology will always be there, whether on the large or small scale.
Photo credit: Giuseppe Milo / Daniel Dudek
Editorial notice: This is a guest contribution (opinion). Statements do not reflect the views of TechAcute.
