IoT: INTERNET OF THINGS

A lot has been happening on the IoT (Internet-Of-Things) front with it being said as the next-big-thing. What are the new business models that will emerge, the impact it will have on the customer experience, the increase in productivity, are some of the questions with great expectations for IoT to deliver on.

IoT

REUTERS/Joshua Roberts

It is the interconnection via the Internet of computing devices embedded in everyday objects, enabling them to send and receive data. Broadband Internet is become more widely available, the cost of connecting is decreasing, more devices are being created with Wi-Fi capabilities and sensors built into them, technology costs are going down, and smartphone penetration is sky-rocketing. All of these things are creating a “perfect storm” for the IoT.

The new rule for the future is going to be, “Anything that can be connected, will be connected.” But why on earth would you want so many connected devices talking to each other? There are many examples for what this might look like or what the potential value might be. Say for example you are on your way to a meeting; your car could have access to your calendar and already know the best route to take. If the traffic is heavy your car might send a text to the other party notifying them that you will be late. What if your alarm clock wakes up you at 6 a.m. and then notifies your coffee maker to start brewing coffee for you? What if your office equipment knew when it was running low on supplies and automatically re-ordered more? What if the wearable device you used in the workplace could tell you when and where you were most active and productive and shared that information with other devices that you used while working?

On a broader scale, the IoT can be applied to things like transportation networks: “smart cities” which can help us reduce waste and improve efficiency for things such as energy use; this helping us understand and improve how we work and live. Take a look at the visual below to see what something like that can look like.

Chris O’Connor describes some of the trends in this field to watch out for in 2017. Read More at Forbes.

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