IoT is the abbreviation for Internet-Of-Things.
It refers to a network of billions of internet-connected devices that use Embedded Systems to receive, collect, and share data, adding what is referred to as intelligence to traditional devices.
The term “things”, in this context, generally excludes commonly connected devices like smartphones and PCs but instead refers to dedicated-function devices, from coffee makers and vending machines, to cars and jet engines.
A Network of Devices
The idea behind a network of IoT devices is that they communicate to the benefit of consumers, businesses, and industry/manufacturing. Beyond improved functionality, the data collected also has a potentially huge impact on security, plus marketing and advertising. For consumers, connected devices, such a smart home full of smart devices, generally means convenience, customization, and time savings. In the morning your coffee is just right, you are shown the news you prefer, and your car knows how you like the seat adjusted. Outside the home, IoT technologies monitor traffic and the weather to help your commute. At the workplace, the lighting and air conditioning systems have anticipated your arrival and security knows you’re coming. Your schedule for the day is on your screen.
Business, Industry, Marketing
For businesses, streamlining information greatly increases efficiency. Beyond the initial benefit of efficient matching of resources with personnel, there is the future benefit of being able to analyze past data and fine-tune processes.
For industry and manufacturing, the most obvious benefit is in the fine-tuning of automation. Equally as interesting are the numerous applications in the fields of safety and security. In the field, maintenance workers will know exactly what problem they are going out to fix eliminating the traditional, time-wasting, problem-check trip.
For marketing and advertising, on the one hand, marketers will be better able to suggest products you are likely to want and thus purchase, but on the other hand, cameras and sensors may be able to relay information on your reaction to products, such as time spent looking, touching, reading, even facial expressions when doing so.
The positive impact of the IoT for business and industry in the future is unquestionable. From a consumer perspective, it remains to be seen where individuals ultimately strike the balance between convenience and privacy.