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‘Data acquisition is the new oil,’ says CEO, Ver2

Humans are 85% accurate about information, while technology is 97% accurate, says Brian De Francesca

| | Oct 8, 2018 | 9:00 am
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Brian De Francesca

Dubai, UAE, 7 October 2018: Overall, humans are 85% accurate about information, while technology is 97% accurate, said Brian De Francesca, CEO, Ver2, while predicting the role of IoT in the future of various industries. Today, he said, whether, or not, manufacturers adopt IoT-enabled devices in their systems is a matter of choice and depends on what level of accuracy is desired. “In the future, technology and IoT-enabled devices will not replace people and their jobs, instead they will help the jobs evolve, while people do different things,” said Francesca.

Referring to data acquisition as the new oil, Francesca elaborated on how IoT-enabled devices will enhance interoperability. Eventually, he said, people might even be paid to share their information, which is on a blockchain, in an anonymous manner. “The adoption of blockchain will take several years before we have access to data, which is trusted and accurate,” Francesca said.  However, he added, there will come a point, where people will have the option of selling their data for research, surveys and data collection, which, in his opinion, is a great idea.


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