The Internet of Things, Its Benefits and Future

Internet of Things (IoT) is a system of integrated technology that authorizes interaction of distinctively connected computing devise which could be rooted with other interfaces like humans or machines, associated via wired and wireless networks, to attain contextual data from the domain its been disclosed to along with an information network created. Its one of the most important and compound technologies of the 21st century digital economy. The concept was invented by an associate of the Radio Frequency Identification (RFID) development community in 1999, named Kevin Ashton. Which wasn’t widely popular back then since the lack of technologies but in today’s practical world it has picked up pace largely because of the growth of mobile/smartphones, top communication systems, cloud computing and data analytics. Living in a cloud-driven era where devices have the urge of getting connected to each other, it is evident that the Internet of Things is gradually making its impact on numerous enterprises as well as consumers. Which makes it a very interesting topic to study and its grown exposure with today’s technologies makes it even more fascinating. Today everything is getting connected — from smart watches, autonomous cars and smart refrigerators, to numerous industrial applications. IoT is not a separate technology, it’s a bionetwork of all products and services, private and public internet protocol (IP) networks which must work together to attain its full potential.

The Internet of Things (IoT), the universal ground is enormous and rising exponentially. Companies emerging in the digital space have observed the widespread and impact of IoT-enabled devices. The IoT has make way for new prospects in the technology space. It’s a revolution of the Internet. These devices are recognizable, and they acquire intelligence by making or allowing context related results. These devices also can communicate information among themselves. They can attain information that has been generated by other objects / devices or they could be helping hand in passing along information of a complex services. With the rise of cloud computing competences and the evolution of the Internet to IPv6 with unlimited addressing capacity. The main goal of the IoT is to connect devices/ objects anywhere, any pint of time, with anyone using any path/network and any services.

IoT plays an important role in today’s world business as efficiency could be improved with increased productivity and cost reduction. It is necessary to collect and sense these data from the connected devices as these data could be shared along with the internet, where it could be processed and used for major decisions and various other purposes. Using IoT it’s a great opportunity to use these data into purposeful actions. They have smart sensors which could monitor the change in the environment condition and give us a red light on any approaching disasters, Basically with IoT opportunities are endless and it’s very important to for us to cultivate into our life’s, business and all area of interests.

IoT has a lot to offer for all section of work, the applications for these IoT technologies are abundant as they are many and diversified. These technologies are outspreading into all areas of life. One of the most prominent area of application involve, like the smart industry which is often spoken about below the banner of Industry 4.0. which involves the wireless connectivity and sensors which are augmented to the factories and warehouses. These help the Industrialists and the manufactures to monitor every small detail in the factories and various number of complex process with them in manufacturing which reduces cost and inefficiency. Using industrial IoT (IIoT) managers are provided with a lot more information and details compared with various systems which used to track only the plant progress.

These IIoT can access real-time information on the supply chain of various products that move along in the supply chain like raw material, equipment’s and various things, with this system inventories are also tracked all over the world and line-to line information is gained by the customer and also if there’s any deviation in the plans, this will create a transparency with the customers and gain customer trust, when we connect plant to the supplier. This data will indirectly help the manufactures in optimising the supply, reduction of wastes, reducing inventory save potential capital costs. Along with these the quality can be checked at every stage of the supply chain. The IoT sensors can provide various information like composition of material, third-party data etc, these inputs can help in understanding customer needs and correct quality issues. Close monitoring of the supply chain help in reduction of lags in the system and unwanted procedures can be cut-off, helping in saving estimation time and reduce wastes. Using some of these IoT sensors in manufacturing it can be used to get condition-based maintenance warnings, there are certain machines that works at certain temperatures, the sensors help in monitoring these temperatures of machines which helps to eliminate machine downtime, increase operational time. Smart tracking of these products in the supply chain using IoT sensors helps in packaging optimisation which is a mechanism that tracks product failure during shipment or weather impact, this would help in re-engineering the products accordingly.

One of the most popular basic examples of use of IoT is in a smart home is the Google Home, a voice assistant. Its connected through the Wi-Fi and acts like a personal assistant to everything and everyone in the house, every device can be connected to each other using IoT application, A light-bulb could be switched on using google home just by asking it to do it, it recognizes the voice command and implements the command. From switching on your televisions to raising and lowering the temperatures of the air-conditioner, an IoT device can do it all from a toy to as precise as a driverless truck, or a smart city filling the entire area with sensors for a better and controlled environment to a Complex jets engine in which there are so many sensors that are collected and transmitting data to work efficiently. However, despite the possibilities, today’s enterprises and consumers are awestruck by the diversity of devices the IoT landscape exhibits; leading them towards a state of utter confusion when it comes to implementation.

As we can see, all these future possibilities are innovative, but they will probably come along with a series of issues large and small. One of such case would be, in a strategic point of view as IoT arises the executives now must look for and calculate for all the possibilities and intimidations brought by IoT to their companies. As of what making them re-structure their business plans or re adapting their model’s relation to the function of IoT, also changing the whole dimension of the existing business boundaries with other various new factors playing a major role in these business models of the companies which earlier dint exist. The competitions and shift rapidly and expand. At an Operational point of view, new machineries are to be added as the old machine hardware wouldn’t match the software updated, not only in the company but in the whole market, as its been used more vividly. Also, sales-services process would be changed and updated with the requirements of the new technologies, various new marketing tools would be required as to connect directly or indirectly with the customers. New designs principles would be needed to support the updates and development of connected products.

The future for IoT is vivid and rising exponentially. As the trend of IoT solidifies, CIO’s are in a constant hunt for the best-of-breed solutions available in the marketplace. Innovatively, these sensor-driven solutions can steer the enterprises towards enhanced agility, simplicity, flexibility and efficiency in business operations. Moreover, with the dropping prices of sensors and other communication devices, more IoT devices can be brought as its cost effective and the advent of high-speed 5G networks will add further value to the IoT improving connectivity between devices. From the security standpoint, the evolution will pave a path for greater consolidation, minimizing the need to frequently check each interaction between the devices to lower the latency. Most people will consider this revolution in internet a boon as everything around is connected and easy-convenient to operate but some will consider it a bane, that a chair isn’t just a chair anymore.