You have so many companies trying to turn the Internet of Things into a goldmine by changing their strategies
Scottsdale, AZ (PRWEB) July 06, 2015
General Electric has been ignoring user-friendly innovation out of its marketing plan, but a quiet announcement of a partnership with IFTTT indicates it is now entering the Internet of Things world. IFTTT is a simple innovation that allows users to create "If Then, Then That" statements to determine how their smart devices will work. Jason Hope thinks this partnership is excellent for General Electric's target audience, the home consumer.
In the June 25 Motley Fool Article entitled "Internet of Things: You'll Never Guess What General Electric Has in Store," authors discuss how GE is focusing all of its development on smart appliances. With the IFTTT technology, consumers can add stipulations, such as "If the oven is preheated, then set the timer for 20 minutes," that dictate how the appliances work and interact with the home and the individual.
The article discusses the reality of Pavlov's fridge, a Wi-Fi enabled lockbox to be put on the refrigerator. Connected to wearable technology, the lockbox will only release snacks when the individual has performed an agreed-upon task, like a workout. GE is positioning itself to make a fortune out of what it already does best - consumer electronics.
"You have so many companies trying to turn the Internet of Things into a goldmine by changing their strategies," said Jason Hope. "Here, GE is refocusing its strategies on what it already knows, appliances, and connecting them to the Internet of Things. This, in my opinion, is a genius marketing and investing move. If GE does well, it will continue to succeed in the Internet of Things driven marketplace."
Until this announcement, GE has been ignoring the development of the Internet of Things. Once the company tackles the home market, the Motley Fool article indicates that build-outs could continue to improve the profit margin for the company, as well as the convenience for consumers.
About Jason Hope
A savvy investor, successful entrepreneur and generous philanthropist, Jason Hope resides in Arizona, where he watches the development of the Internet of Things and its innovations with great interests. He believes that the Internet of Things is here to stay, and that consumers need to do what they can to connect with this and improve the security of their devices. Learn more about his research and work at http://www.jasonhope.com.