With over 60% of the global population becoming active users of the internet, and most of them accessing it from mobile devices, Cisco projects that machine-to-machine (M2M) connections will be half of the global connected device connections by 2023 among which, IoT devices alone will account for approximately 15 billion connections. While smartphones and wearables grab most of the media attention, connected home applications and car applications are predicted to form the fastest growing category in the coming years. Such proliferation of connected devices indicates that organizations will have unprecedented access to the digital footprint of consumers and employees.
While most underlying technologies that offered personalization features in products and services – including IoT devices, smartphones, wearable, data analytics tools, behavioral sciences - have been around for several years, what makes Hyper Personalization one of the hottest trends in 2021 is the dramatic increase in data around consumer behavior collected during the COVID-19 pandemic. Due to this, there has been an upsurge in the use of technologies such as facial recognition, gesture-based interactions, and location tracking.
Applications for these technologies are too many to enumerate, but some of the most visible examples that came to the fore, included using computer vision to determine if employees were complying with protocols related to social distancing and wearing masks. Another example was the use of sensors or RFID tags on Employee IDs to track if employees were washing their hands regularly.
With all these advantages, however, one of the major concerns is consumer data privacy and data security as enterprises rapidly begin to adopt the public cloud infrastructure within their enterprise landscape. These are complicated issues, and it is quite a challenge as the legal framework in most countries have not evolved for the Internet and Big Data age. Despite this, almost all major technology companies have invested heavily in confidential computing initiatives as they begin to move their IT workloads into the public cloud infrastructure across geographies.