The “Internet of things” (IoT) is becoming an increasingly growing topic of conversation both in the workplace and outside of it. It’s a concept that not only has the potential to impact how we live but also how we work. But what exactly 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). It revolves around increased machine-to-machine communication and built on cloud computing and networks of data-gathering sensors. This includes everything from cellphones, coffee makers, washing machines, headphones, lamps, wearable devices and almost anything else you can think of. 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.
ATM is one of the first IoT devices invented back from 1974, and up to early 2000s, only a few devices are integrated to IoT technology. But today, almost every object are connected and labeled as a “smart device”. According to estimations by the McKinsey Global Institute, the IoT will have a total economic impact of up to $11 trillion by 2025.
The next question is, does IoT also applicable for personal use? Yes it does. If you are an Android and Google user, turn on your Google Now and location service, and you will see what Google can learn about you. For example, if you leave home for work and going back home every day at around the same time, Google will automatically inform you your estimated time arrival (ETA) based on that current road conditions. If you have schedule to travel from one place to another, Google will automatically remind and suggest you what time to leave home so you won’t miss your flight.
BMW, one of luxury car manufacturer, also leverages IoT for connected car services. Partnered with German telco Deutsche Telekom, BMW makes it possible to connect up to 10 Wi-Fi-enabled devices to high-speed internet at the same time, without any need for them to have their own SIM cards. For example, drivers can create recipes to increase heating once temperature drops below a certain level, without having to change heating settings whilst driving. Smart home systems can turn on lighting and heating in the house, and open a garage door once the vehicle approaches. It also allows drivers to update social media with their location without having to manually sign in, and receive social media locations on the control display.
However, there might be several challenges that potentially delay that future such as data accuracy, technology standardization, and privacy and security. IoT has very few standards as of today, whether it comes to hardware standards, data standards, billing standards, or even monetization standards. There will be pain in having to deal with the vast variety of IoT platforms that will be used to manage the data streaming, security, billing, and applications associated with the IoT. And When IoT gathers massive amounts of information, there becomes a risk of keeping it in the proper hands.
Gartner predicts that by 2020, there will be 20.8 billion connected things and Cisco believes it’s going to be 50 billion. With these numbers in mind, it becomes imperative for enterprises to prepare accordingly.
CTI Group, one of the most reputable IT value-added distributors in South East Asia, provides a full range of IT technology and solution to support your IoT infrastructure needs. To find out how we can help you, please check our latest solution eCatalogue.
Check out the video below to understand more on how internet of things work :
[youtube]http://www.youtube.com/watch?v=QSIPNhOiMoE[/youtube]
