Over the next five years, the ageing of the population will increase significantly in many countries. The World Health Organization (WHO) estimates that the percentage of the population over the age of 60 will nearly double by 2050. At the same time, the working population is shrinking due to a combination of an ageing population and declining birth rates, leading to a shrinking labour market. This puts greater pressure on the economy, because fewer people in work have to provide more work.
Source: Ageing and health (who.int)
The Role of IoT in a Shrinking Labor Market: More Efficiency with Fewer People
The global ageing population means that fewer and fewer workers will be available in the coming years to meet the increasing demand for services and products. This forces companies to think about how they can make processes more efficient. One promising solution is the Internet of Things (IoT), which can help you perform the same, or even more, tasks with fewer people.
What is IoT and how does it work?
IoT refers to a network of physical devices that are connected to each other via the internet. These devices can contain sensors that collect data and send it to a central location, where it can be analyzed. Think, for example, of sensors in machines that indicate when maintenance is needed, or smart systems that provide real-time data on the use of energy, water, or other resources. This makes it possible to automate processes and monitor them remotely, without the need for constant human intervention.
Why is IoT important in the future?
The demographic shifts show that the labor force is shrinking, while the demand for services and products continues to increase. Companies will have to be more creative with their available resources, including labor. IoT can provide a solution to this by reducing the number of man-hours required for tasks such as maintenance, inspection, and monitoring.
Example: In many industries, technicians drive from site to site on a daily basis to investigate faults or perform preventative maintenance. This method is inefficient because it often happens that there is no immediate need for a visit, or that the malfunction could have been noticed earlier. By installing sensors on devices or systems, IoT can make these tasks much more targeted. Malfunctions or anomalies are automatically reported, so that technicians are only deployed when actual action is needed. This not only saves time, but also costs such as fuel and vehicle management.
Scalability and flexibility
One of the strengths of IoT is its scalability. When a company grows and starts managing more installations or devices, the need for overview and control grows. Traditional systems often struggle to handle larger volumes of data. However, IoT is designed to scale with this growth. In addition, it offers the flexibility to process data quickly and adapt it to the needs of the organization, without the need for a completely new infrastructure each time.
Conclusion
By investing in IoT now, you lay the foundation to stay ahead of future challenges. While companies waiting for solutions will be left behind, those that embrace IoT early can optimize their processes and avoid inefficiencies. So don't just think about today's benefits, but the problems you can avoid tomorrow by taking the right steps now.
Will the employee of tomorrow still be available?
