The Internet of Things and the wisdom of crowds

 

by Ryan Begley

As the Internet of Things (IoT) continues its explosive expansion, I find myself wondering how side effects of the Internet of Things will weave their way into our everyday lives.

 
Emergence, says Wikipedia, is “a process whereby larger entities, patterns, and regularities arise through interactions among smaller or simpler entities that themselves do not exhibit such properties”—as I was reminded when I listened to a Radio Lab podcast on just that topic. In it, the host spoke of Sir Francis Galton, a Victorian statistician, sociologist and psychologist who pioneered the application of statistical methods to the study of human differences and inheritance of intelligence.

 
At a country fair, runs the story, Galton asked bystanders to guess the weight of an ox. To his surprise, averaging the guesses produced a figure only a pound away from the actual weight of the ox, suggesting to him the idea of the wisdom of crowds. Though many of Galton’s ideas were later debunked, his contributions—the concept of emergence among them—enabled advances in many of the disciplines he studied.

 
Take advantage of human swarming

 
Today, when we speak of the wisdom of crowds, we talk in particular of human swarming, an approach that uses real-time feedback loops from groups of users to arrive at accurate insights. Indeed, swarming has sometimes out predicted large groups of experts who rely on non-swarm methodology….

Continued: The Internet of Things and the wisdom of crowds

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About Radnor Reports

Ken Feltman is past-president of the International Association of Political Consultants and the American League of Lobbyists. He is retired chairman of Radnor Inc., an international political consulting and government relations firm in Washington, D.C. Feltman founded the U.S. and European Conflict Indexes in 1988. The indexes have predicted the winner of every U.S. presidential election beginning in 1988, plus the outcome of several European elections. In May of 2010, the Conflict Index was used by university students in Egypt. The Index predicted the fall of the Mubarak government within the next year.
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