Small and medium sized enterprises (SMEs) in Hong Kong are set to get a fresh insight into understanding how to tap the full potential of the Internet of Things (IoT).

GS1 Hong Kong has shown green flag to the three-day Hong Kong Internet of Things (IoT) Week event, which is dedicated to empower the development of this technology trend.

The attendees of the event will learn how SMEs can leverage the innovative developments and applications of IoT technologies to improve their bottom line.

The new Hong Kong Internet of Things (IoT) Week includes IoT specific seminars and provides industry practitioners and technology partners a platform to discuss their ideas on innovative developments and applications of IoT technologies.

"The Hong Kong IoT Week will identify the business benefits and advantages of 'everything connected' for specific industries to further strengthen the capabilities and competitiveness of Hong Kong enterprises in the IoT era," said Anna Lin, chief executive of GS1 Hong Kong.

Borderless world

Internet adoption is growing across the globe and more than 50 billion individual items will be connected via the Internet by 2020. In a borderless world the companies need to take concrete decisions to ensure IoT is a part of their growth plan.

GS1 Hong Kong is the authorised registration organisation for GS1 BarCodes and Electronic Product Code System. It expects the Hong Kong IoT Week will help businesses understand the potential of Internet and simplify its integration into their infrastructure.

This is important as mobile penetration in Hong Kong is among the highest in the world with people having more than two mobile phones.

Also, the city boasts of a robust cloud computing infrastructure which facilitates the development of Internet of Things (IoT).

"The Hong Kong IoT Week will identify the business benefits and advantages of 'everything connected' for specific industries to further strengthen the capabilities and competitiveness of Hong Kong enterprises in the IoT era," added Lin.