IoT

IoT is the abbreviation for the Internet of Things. It refers to a network of billions of devices connected to the Internet that use Embedded Systems to receive, collect, and share data, and add what is referred to as "intelligence" to traditional devices.

Things

In the IoT context, the term “things” generally excludes common connected devices like smartphones and PCs, and instead refers to devices with a dedicated function, meaning everything from coffee makers and vending machines to cars and jet engines.

A network of devices

The idea behind having a network of IoT devices is that these devices communicate with one another to the benefit of consumers, businesses, and industries/manufacturing. Beyond improved functionality, another benefit of the data collected is that it also has a potentially huge impact on security, marketing, and advertising.

For consumers, connected devices (such as smart devices in homes), generally provide convenience, customization, and time savings. For example, in the morning, coffee is is pressed just right, the news one prefers is ready to read, and one's car knows exactly how its owner likes the seat adjusted.

Outside the home, IoT technologies monitor traffic and the weather to improve the morning/evening commute. At the workplace, the lighting and air conditioning systems anticipate one's arrival, and security knows who is coming to work. The schedule for the day is on one's screen before the computer's owner sits down.

Business, industry, and marketing

For businesses, streamlining information greatly increases efficiency. Beyond the initial benefit of efficient matching of resources with personnel, there is a future benefit in 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 interesting are the numerous applications in safety and security. In the field, maintenance workers will know exactly what problem they need to fix, which eliminates the traditional time-wasting process of checking for problems.

For marketing and advertising, marketers will be better able to suggest products people are likely to want and thus purchase, but on the other hand, cameras and sensors may be able to relay information on reactions to products; time spent looking, touching, and reading; and even on facial expressions.

The future

The positive impact from the IoT on business and industry in the future is unquestionable. From a consumer perspective, it remains to be seen with regard to where individuals ultimately strike the balance between convenience and privacy.