What is IoT (Internet of Things)
The Internet of Things, or IoT, refers to billions of physical devices connected to the internet and collecting and exchanging data all over the world. By combining these linked gadgets with automated systems, it is possible to “gather information, evaluate it, and generate an action” to assist someone with a specific activity or learn from a process. In fact, this can range from smart mirrors to store-based beacons and beyond.
Caroline Gorski, Digital Catapult’s head of IoT, adds, “It’s about networks, it’s about devices, and it’s about data.” Things connected to a closed private internet connection can communicate and share information with one another thanks to the Internet of Things. “The Internet of Things connects these disparate networks.” It allows gadgets to interact not just within closed silos, but also across different types of networking, resulting in a far more connected society.”
Why is the Internet of Things (IoT) so Important?
The Internet of Things has risen to prominence as one of the most important technologies of the twenty-first century in recent years. Household appliances, autos, thermostats, and baby monitors, for example, may now connect to the internet, allowing seamless communication between people, processes, and objects.
Physical items can communicate and collect data with minimal human contact thanks to low-cost computers, the cloud, big data, analytics, and mobile technologies. Digital systems can now record, monitor, and influence every interaction between connected gadgets in today’s hyperconnected environment. Although the physical and digital worlds intersect, they also collaborate.
What Technologies have made IoT Possible?
- Low-cost and low-power sensor technology is now available. Thanks to the availability of low-cost, high-reliability sensors, IoT technology is becoming more accessible to more manufacturers.
- Connectivity. The procedure of connecting sensors to the cloud and other “things” for speedy data transfer has been eased thanks to a number of internet network protocols.
- Platforms for cloud computing Cloud platforms are becoming more widely available, allowing organizations and individuals to access technology without having to manage it themselves.
- Machine learning and analytics. Thanks to advancements in machine learning and analytics, as well as access to diverse and vast volumes of data stored in the cloud, businesses can gain insights faster and more easily. IoT data feeds these technologies, and the development of these linked technologies continues to push the boundaries of IoT.
- Artificial intelligence with the ability to converse (AI). Thanks to developments in neural networks, natural-language processing (NLP) has been extended to IoT devices (such as digital personal assistants Alexa, Cortana, and Siri), making them more appealing, affordable, and practicable for home use.
What is Industrial IoT?
Industrial IoT refers to the application of Internet of Things (IoT) technology in industrial settings, particularly in terms of sensor and device instrumentation and control via cloud technologies (IIoT). For a good demonstration of IIoT, check out this Titan use case PDF. Machine-to-machine communication (M2M) is a relatively new technology that enables wireless automation and control across a wide range of industries. Thanks to the development of the cloud and similar technologies, businesses may attain a new level of automation and, with it, new income and business models (such as analytics and machine learning). The Internet of Things, or Industry 4.0, is the fourth phase of the industrial revolution.
The following are some common uses for IoT:
- Smart manufacturing
- Connected assets and preventive and predictive maintenance
- Smart power grids
- Smart cities
- Connected logistics
- Smart digital supply chains
Unlock Business value with IoT:
Businesses are capitalizing on the immense business value that IoT may give as it becomes more widely used in the marketplace. These advantages include:
- Using data-driven insights from IoT data to improve business management
- Improving the efficiency and effectiveness of corporate operations
- New business models and revenue streams are being established.
- Connect the real and digital worlds in a simple and seamless manner to reduce time to value.
How is IoT Changing the World? Take a look at Connected Cars.
The Internet of Things is transforming the automotive by enabling connected cars. Cab owners can utilize the Internet of Things to control their automobiles remotely, such as preheating the vehicle before getting in or hiring a car by phone. Thanks to IoT’s ability to facilitate device-to-device communication, cars will be able to schedule their own servicing appointments when necessary. Carmakers and dealers may be able to turn the car ownership model on its head by utilizing connected vehicles. Manufacturers and individual buyers once had an arm’s length relationship (or none at all).
The manufacturer’s association with the car effectively ended when it was delivered to the dealer. Thanks to connected cars, automakers and dealers can keep a continuous relationship with their customers. Instead of selling cars, self-driving vehicles might charge drivers usage fees and provide “transport-as-a-service.” IoT allows car manufacturers to upgrade their vehicles with new software on a regular basis, which is a substantial break from the old paradigm of auto ownership, in which automobiles progressively degrade in performance and value.