Internet of Things: A Beacon of Hope for Industries

A buzzword whose reach is no more limited to just the field of technology.

Process eases as the devices connect with each other and with the cloud.

As with the advancement in the field of technology, IoT i.e the Internet of things has become a greatly used word. It has not just created a buzz inside the tech world but has expanded its boundaries in a noteworthy number of areas. May it be in the field of manufacturing, corporate or medicine, IoT is doing a pretty flawless job in revolutionizing the work thereby easing the processes in industry. Yet, there are a few important things that one must know about this widespread technology.

What Exactly Is the Internet of Things (IoT)?

Imagine a scenario where you are heading for your office on the very first day with the help of a GPS, you will definitely know the path and traffic ahead while driving. But, what if there is an existing technology that may help you to get connected to the physical devices on your way and could tell you which way to go or if there are any accidents occurred etc.

Wouldn’t that be great? Now that’s what IoT exactly does!

Internet of Things is generally a concept in computing that describes the idea of everyday useful devices connected to the internet and being able to be identified by other similar devices.

This revolution is significant because the concept is now on a bigger level as an object that is able to represent itself digitally is much renowned than the object itself. Reason being now that object is globally powerful to be connected to other devices or database or the cloud itself and that is phenomenal.

The Power Of Revolutionizing The Work Through IoT

As already said, this technology has the power to work and ease the processes in various fields ranging from manufacturing to corporate to medicine. As a great example, in the field of medicine, adopting this technology will help doctors to evaluate a particular patient inside and outside the hospital premises.

Thus, systems can thereafter process the evaluated data and help suggest better treatments and show disease progress reports to the doctors as well as patients.

And how is that possible? Because IoT is comprised of web-enabled devices that collect, send and act on the data acquired from their environment with the help of various sensors, or embedded processors.

This interaction between devices is probably close to RFID as the method of communication although QR codes, sensors may also be included.

How the Internet of Things Affects The World?

If we would look on the consumer’s side, IoT has already taken a large part of the market with devices like connected cars, fitness bands, smart watches etc that send data to a centralized processing hub.

While on a large scale, it has helped businesses improve their bottom line and sustain their quality standards in a better way, presenting a great opportunity for other organizations such as government bodies to adapt and leverage IoT ecosystems.

According to analysts, they have projected the IoT market to reach a whopping $3 trillion by 2020. That’s pretty much a big thing as technology is pervading nearly all the industries from transportation to connected homes and agriculture.

Internet of Things, Businesses and More…

In 1999, Kevin Ashton of Procter & Gamble said it best in this quote from an article in the RFID Journal, “If we had computers that knew everything there was to know about things – using data they gathered without any help from us – we would be able to track and count everything, and greatly reduce waste, loss, and cost. We would know when things needed replacing, repairing or recalling, and whether they were fresh or past their best.”

For instance, by tracking data about energy use and inventory levels, a firm can significantly reduce its overall costs and minimize wastage.

While on the consumer side, when a retailer will be able to track a consumer’s behavior, they’ll be in a potent position to suggest or make tailored product choices to their clients. And this will ultimately lead to better sales figure in their store or business.

While this technology has been fast-pacing in this era, there are still a few concerns regarding the privacy of data that needs to be addressed at its earliest. So, let’s hold a brighter outlook towards this approach while it grows in the future.