![[Review] Big data: driving the circular economy | NPM Capital](https://www.npm-capital.com/hs-fs/hubfs/Imported_Blog_Media/IA-feature-optimised_0_jpg.webp?width=2000&height=2000&name=IA-feature-optimised_0_jpg.webp)
According to a new report published by the MacArthur Foundation and the World Economic Forum called Intelligent Assets: Unlocking the Circular Economy Potential, the world will be home to an estimated 50 billion internet-connected devices by 2020. They will collectively generate a massive amount of valuable data that can help accelerate the implementation of the circular economy. On the relationship between the emergence of the Internet of Things (IoT) and the transition to a circular economy.
The authors of ‘Intelligent Assets’ have identified six areas in which the intelligent use of big data – generated by a seemingly endless number of internet-connected devices – can work to accelerate or enhance the transition to a circular economy.
Citing the energy industry as their first example, the authors claim that a massive amount of data will become available in the future relating to the demand for energy, including where it is needed when, and exactly how much is required. This makes it possible to develop highly intricate energy networks fed by locally generated sustainable energy sources. The authors also expect that the Internet of Things (IoT) will ultimately help us to consume energy more efficiently. Examples of this might include streetlights that switch on only whenever a vehicle approaches or office lights that are activated by a signal from employees’ mobile phones.
