Internet of Behavior (IoB) – What it Holds for Future of CXM?

What is Internet of Behavior (IoB)?

IoB captures individual's preferences, inclinations, personality traits often referred as digital dust from a variety of sources to map them to generate patterns to influence consumer behavior.

Professor G?te Nyman of the University of Helsinki, Finland first used the term 'Internet of Behaviors'. The purpose of IoB is to collect, analyze and respond to human behaviors in such a way that can be tracked and interpreted using technology and algorithms.

IoB captures behavioral patterns and choices to gain more granular understanding of people’s behavior, which can enable interested parties, relevant stakeholders to make better decisions for a variety of the use cases.

IoB can captures data from wide variety of sources like wearable devices, household digital devices, Internet of Things (IoT) devices, Alexa, Google Assistant, Siri, Smartphones, online activities, social-media usage etc.

Gartner named Internet of Behavior (IoB) among the world’s biggest strategic technology trends for 2021. By 2023, individual activities will be tracked digitally by an 'Internet of Behavior' to influence benefit and service eligibility for 40% of people worldwide. https://gtnr.it/3swT3uq

Technology Stack: Edge Analytics, Internet of Things (IoT), Big Data, Facial Recognition, Machine Learning, Geo-location, Homomorphic Encryption, Global Positioning System (GPS), Near-Field Communication (NFC), Bluetooth, Computer vision, Behavioral Science etc

IoB Use Cases:

1. Smart Clothing: Sensor-embedded shirt which can connects to user's phone and diagnose asthma, pneumonia, bronchitis, and COPD. https://bit.ly/3FJvxzy Smart Clothing with a built-in 'Energy Harvester' that gains Power from Solar light, Solar and Body Heat. https://bit.ly/3yA1Akc
2. State Farm’s HiRoad programs delivers telematics-based auto insurance that rewards car owners for their good driving behaviors leading to the cost savings. https://bit.ly/39dnwqC
3. Implantables: Proteus made 'smart pills' embedded with sensors could monitor blood pressure and other health metrics; after the patient swallowed the pills, they could wear an external device to easily monitor the data generated from within the body. It also tell your doctor when you've taken your medication. And a sensor paired with the pills tracks activity levels. https://bit.ly/3Pi2tDO
4. Sydney's Bahista Cafe deploys IoB for facial recognition to determine mood of the consumers and suggest them an appropriate beverage based on the analysis. https://bit.ly/3PiWZbV
5. Allstate Drivewise? rewards for safe driving, offers car insurance savings, and provides personalized driving insights. https://bit.ly/3LgVUhO
6. Uber uses IoT data on driver's behavior, passenger locations and preferences to reinvent CX. Uber uses Argos, IoB and Machine Learning to interpret the passenger experience, understand surge pricing patterns etc. Argos provide highly accurate, real-time alerts on millions of system and business metrics. https://ubr.to/3FICEIL
7. Grand Park City Hall, Singapore using facial-recognition system known as E-Visitor Authentication allows guests to check into hotels using kiosks or mobile phones to verify their identity. As per Singapore Tourism Board and local hotel association, check-in time is reduced by 70% using it. https://bit.ly/3FGBNbq
8. Smart wearable devices like Apple Watch, Fitbit are using IoB to track diet, exercise, sleeping patterns, heart rate or blood sugar levels to suggest behavioral modifications towards a healthier lifestyle. https://bit.ly/3LpahRf

Gartner predicts that by 2025, half of the world's population will be subject to an IoB commercial or government program. https://gtnr.it/3FIDCoh ?But concerns about security, privacy and ethical implications are critical areas which needs to be addressed for IoB to be embraced on a larger scale.

IoB can be a powerful tool to leverage sales and marketing to create effective strategies, boost revenue and sales. For companies, IoB can help in effective marketing of products to their customers or improving a product or service’s overall user experience. In a few years, IoB will become an ecosystem that will define human behavior in the digital world.