Internet of Things (IoT) describes the network of physical objects embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet
Devices range from ordinary household objects to sophisticated industrial tools
Lightbulbs, refrigerators, coffee makers, and other devices have transformed into conduits for the future, turning physical information into digital data
The "smart home" uses internet-enabled gadgets to automate tasks, save time, and enhance experiences
The real promise of IoT is making physical surroundings accessible to digital computers, allowing for predictions about consumer behavior and climate events
Four fundamental components of IoT:
Sensors/Devices collect data from surroundings
Connectivity mediums include cellular networks, WiFi, Bluetooth, and satellite networks
Data Processing in the cloud analyzes collected data
User Interface presents information to end users and allows for adjustments
IoT helps people live and work smarter, offering automation for homes and real-time insights for businesses
IoT is essential for businesses to stay competitive and improve efficiency
Businesses can automate processes, reduce labor costs, cut down on waste, and improve service delivery through IoT
The future rule is "Anything that can be connected, will be connected," leading to endless opportunities and connections
IoT applications include smart transportation networks and "smart cities" to improve efficiency and energy use
IoT allows for predictions about consumer behavior and climate events, but also raises concerns about privacy and security
In 1990, John Romkey created the first IoT device: a toaster controlled by a computer
Kevin Ashton coined the term "internet of things" in 1999 to describe sensors acting as the eyes and ears of a computer
LG introduced the first connected refrigerator in 2000, marking the beginning of affordable IoT devices for consumers
Amazon introduced the Echo speaker with Alexa in 2014, shifting the focus towards voice assistants in the smart home
By 2014, the number of internet-connected devices surpassed the number of people in the world, with over 20 billion connected things today
Today, there are over 20 billion connected things in the world
IoT benefits to organizations:
Monitor overall business processes
Improve customer experience
Save time and money
Enhance employee productivity
Integrate and adapt business models
Make better business decisions
Generate more revenue
IoT is most abundant in manufacturing, transportation, and utility organizations
IoT can benefit farmers in agriculture by automating farming techniques
The ability to monitor operations surrounding infrastructure is a factor that IoT can help with
Sensors can be used to monitor events or changes within structural buildings, bridges, and other infrastructure
Consumer and enterprise IoT applications:
Smart homes equipped with smart thermostats, appliances, and connected devices
Wearable devices for collecting and analyzing user data
IoT in healthcare for monitoring patients and managing tasks like inventory
Smart buildings for reducing energy costs using sensors
IoT-based smart farming systems for monitoring crop fields
IoT security and privacy issues:
Advantages include accessing information from anywhere, improved communication, saving time and money, and automating tasks
Disadvantages include the risk of hackers stealing confidential information, challenges in managing data from numerous devices, system bugs affecting all connected devices, and lack of international compatibility standards
The future of the Internet of Things:
Objects in our world may sense and react to us individually
Smart offices, smart buildings, smart cities, and smart hospital rooms with sensors
Autonomous vehicles connected to the internet
Growth of IoT leading to new cyber warfare possibilities and privacy concerns
Need for faster internet, better data security, and improved compatibility among IoT devices
Cloud Computing:
A network of resources that companies can access to increase efficiency
Forbes predicts that 83% of enterprise workloads will be in the cloud by 2020
Cloud storage and sharing is a popular trend adopted by many companies
Cloud services help save on information technology infrastructure and extend internal functions for revenue
Mobile Computing and Applications:
77% of Americans own smartphones
Mobile traffic is projected to increase in 2019
Mobile applications, consumer capabilities, and payment options are necessary for businesses
Fastest-growing companies have established mobile websites, marketing, and apps for security and user-friendliness
Big Data Analytics:
Big data allows businesses to analyze extensive sets of information for growth opportunities
Data mining helps predict growth opportunities and future success
Data analytic programs are advancing for better data management
Big data is essential for converting leads into paying customers
Automation:
Automated processes collect information and expedite customer interactions