Wearable thoughts

Last week we had two interesting Wearable - IOT events.

The first was "Wearable conference", organized by Julien Blin. The second was A "Wearable and IOT design workshop", I arranged with Indiegogo at Google campus.

During these two days, I met and talked with many interesting start ups and entrepreneurs. Great to see so many new ideas in A field which almost didn't exist 4 years ago. However, there are still many challenges and unanswered questions.

50 cent filing for bankruptcy, proves that starting with money, reputation, PR etc. doesn't always guarantee success.

After having A few days to process these intense days, here are some thoughts  on ,  "Wearables - IOT challenges and opportunities".

1. The whole wearable and IOT world, is still in vary early stage. It's clear that we can use technology to create amazing products + collect new data.  Still unclear what is important, what we really need and why?

2. Value. Many new companies are trying to convince us that the product is fashion, luxury, exciting etc. These things take time and research. Fashion and luxury are about emotions, something that

                                                                        engineers can't solve by themselves. 

3. Most users that actually buy the products, are disappointed. The gap between promise and reality is too big.

4. We all like gadgets, but the next one is just around the corner. Many startups are based on A one gadget product. In 6 month it will no longer be relevant.

5. Too much info. Graphs, numbers, charts,  step counts, calories etc.  Who cares? I don't have 5 hours to analyze every run or walk I take. We need to start focusing on bringing personal value to users. We are overloaded with data.

6. The fact you have promising technology, doesn't mean Companies, Sport brands, Factories and Fashion houses, Will immediately let you in and write you A check.  You have to demonstrate you have done your homework, and how you think, you can help them, improve the business they are already running.

7. Healthcare industry will go through huge changes. For the moment it's in the dark ages. Bureaucracy is impossible. Every little exam takes days or weeks.  Wearables have a huge opportunity to change this. Fact is ,health care is to slow to react. I see huge market for "private technology based healthcare". Hopefully,  public healthcare will have to follow and adapt.

8. Same goes for insurance.

9. Industrial IOT is huge. Maybe the only sector that's showing value at the moment. Saving water, electricity, improving Turbines, manufacturing, agriculture and smart city solutions. Big operations call for big solutions + short execution + added value = IOT

10. Education and academy. Unfortunately the slowest to react. Students are still learning technology, economy and marketing that was taught 50 years ago. I'm not suggesting we delete everything, but, all  these models are going through huge changes. It takes forever for universities to authorize new courses, refresh staff or collaborate. There is a big HR demand for Multidisciplinary professionals that the academy still cant respond to.

If you have thoughts, agree, disagree, or questions, please respond or contact me.

Thank you for your time.

Eli Jacobson.