Internet of Things

Internet of Things

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.

What Is The Internet Of Things?

Simply put, this is the concept of basically connecting any device with an on and off switch to the Internet (and/or to each other).This includes everything from cellphones,coffee makers,washing machines,headphones,lamps,wearable devices and almost anything else you can think of.This also applies to components of machines,for example a jet engine of an airplane or the drill of an oil rig. As I mentioned,if it has an on and off switch then chances are it can be a part of the IoT.  The analyst firm Gartner says that by 2020 there will be over 26 billion connected devices... That's a lot of connections (some even estimate this number to be much higher, over 100 billion).The IoT is a giant network of connected "things" (which also includes people).The relationship will be between people-people, people-things, and things-things.

How Does This Impact You?

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.The reality is that the IoT allows for virtually endless opportunities and connections to take place, many of which we can't even think of or fully understand the impact of today. It's not hard to see how and why the IoT is such a hot topic today; it certainly opens the door to a lot of opportunities but also to many challenges. Security is a big issue that is oftentimes brought up. With billions of devices being connected together, what can people do to make sure that their information stays secure? Will someone be able to hack into your toaster and thereby get access to your entire network? The IoT also opens up companies all over the world to more security threats. Then we have the issue of privacy and data sharing. This is a hot-button topic even today, so one can only imagine how the conversation and concerns will escalate when we are talking about many billions of devices being connected. Another issue that many companies specifically are going to be faced with is around the massive amounts of data that all of these devices are going to produce. Companies need to figure out a way to store, track, analyze and make sense of the vast amounts of data that will be generated.

The advantages and disadvantages of Internet Of Things

Here are some advantages of IoT:

1. Data: The more the information, the easier it is to make the right decision. Knowing what to get from the grocery while you are out, without having to check on your own, not only saves time but is convenient as well.

2. Tracking: The computers keep a track both on the quality and the viability of things at home. Knowing the expiration date of products before one consumes them improves safety and quality of life. Also, you will never run out of anything when you need it at the last moment.

3. Time: The amount of time saved in monitoring and the number of trips done otherwise would be tremendous.

4. Money: The financial aspect is the best advantage. This technology could replace humans who are in charge of monitoring and maintaining supplies.

Disadvantages

Here are some disadvantages of IoT:

1. Compatibility: As of now, there is no standard for tagging and monitoring with sensors. A uniform concept like the USB or Bluetooth is required which should not be that difficult to do.

2. Complexity: There are several opportunities for failure with complex systems. For example, both you and your spouse may receive messages that the milk is over and both of you may end up buying the same. That leaves you with double the quantity required. Or there is a software bug causing the printer to order ink multiple times when it requires a single cartridge.

3. Privacy/Security: Privacy is a big issue with IoT. All the data must be encrypted so that data about your financial status or how much milk you consume isn’t common knowledge at the work place or with your friends.

4. Safety: There is a chance that the software can be hacked and your personal information misused. The possibilities are endless. Your prescription being changed or your account details being hacked could put you at risk. Hence, all the safety risks become the consumer’s responsibility.

Conclusion

Although IoT has quite a few disadvantages, its advantages of saving the consumer time and money can’t be ignored. So the time isn’t far when the Internet Of Things will be commonly seen in both households and companies. Efforts will have to be made to find ways to combat its disadvantages.