Internet of Things to drive living services: Accenture report

With the advancement in technologies in areas like cloud, connected devices, real time data and analytics, organisations across the world are soon expected to drive a new wave of transformative digital services driven by convergence of Internet of Things (IoT) and shifting consumer expectations. According to a new report by global consulting and IT services major Accenture, this area, what it terms as 'living services', will impact people in almost all areas of their lives, including health, home, shopping, travel and money.

The concept of intelligent services that adapt and change based on consumer preference is not new. But the technology that enables living services has recently matured enough for brands to create and deliver them at scale, said the report, prepared by Fjord, the design and innovation group within Accenture Interactive.

"We call them 'Living Services' for three reasons," said Brian Whipple, senior managing director, Accenture Interactive. "They will change consumer experiences such as travel booking and shopping in real time around us. They will be driven by things that are very proximate to us such as wearables and nearables."

Living services will profoundly affect design and brands and unleash new competitive forces in business and the public sector. This would require them to rethink their business structures and practices in the same way they did at the introduction of desktop web and mobile services, the report added.

Talking about how IoT has started impacting the health segment, the report takes the example of an app called Ginger IO. Given the high correlation between diabetes and depression, the app Ginger IO can predict signs of depression up to two days before outward symptoms manifest. The way it happens is that it taps into data from a patient's smartphone to record everyday behavior and can provide early warning signs. Similarly, Proteus Digital Health, a California based company has come out with a stomach-activated sensor based technology which provides information on how the patient is taking and responding to medication.

In areas like managing finances, 24me, an Israeli company has launched an app which automatically syncs with a person's utilities and other services to remind and enable the user to pay their bills. Home safety and security is another area which has prompted many technology based companies to come out with automation platforms to manage time-consuming and reoccurring tasks.

"The emergence of living services is being driven not only by the digitization of everything but also by 'liquid expectations,'" said Mark Curtis, chief client officer at Fjord, Design and Innovation from Accenture Interactive.

"When consumers engage with a brand today, such as an airline or a bank, they compare their experience not only with other airlines or banks but also with any service company, such as ride-sharing providers. Now consumers want payment experiences like this in every industry, consciously or subconsciously."