The Internet of things refers to physical devices connected and collecting information to share it between them. The tangible devices can be of any shape or size, be it small as a bulb or big as cars. Digital intelligence through sensors builds effective communication between objects and eliminates the need for humans to operate it. Multiple devices link with each other functions on the IoT platform that combines data and analyzes it to provide valuable information. Some examples of IoT devices present today are fitness devices, smart thermostats, footballs, kids’ toys, self-driving cars, and much more.
The IoT platforms help to obtain relevant information, detect issues, and recommend suggestions that upgrade experience. It enhances the decision-making process by providing real-time information to industries. IoT increases efficiency by automating repetitive tasks to boost productivity. Valuable insights ascertain from advanced analytics help in making smart decisions.
The conceptualization of adding digital intelligence to objects roots back to 1982 and one of the earliest inventions was the internet-connected CocaCola vending machine at Carnegie Mellon University. The idea was progressing slowly in the starting phase due to a lack of advanced technology for effective communication. In 1991, UbiComp and PerCom showcased the modern version of IoT, and Mark D.weiser wrote a research paper, “The Computer of the 21st Century”, in 1991. Global companies like Microsoft’s at Work, Novell’s NEST suggested possible solutions for solving issues between 1993-1997. Under the “Six Webs” framework, Bill Joy anticipated device-to-device communication and represented the same at the World Economic Forum at Davos in the year 1999.
In the same year, Kevin Ashton of P&G coined the term “Internet of things” and envisioned radio-frequency distribution(RFID), low powered chips to communicate sensibly and allow computers to handle small tasks easily.
The practical applications of IoT are making human life more comfortable and transforming the world around us. There are innumerable objects that operate under IoT as it is adaptable to any technology. Industries are leveraging this technology to automate their products and generate high revenues. According to Cisco, the ROI is about to reach 14.4 trillion dollars in the next decade across the industrial sector.
Wearables:- You can see people using Fitbit to monitor their calorie intake, measure the number of steps, heart rate, and much more to stay healthy. Wearables saw a surge in demand, and companies like Google, Amazon, Fitbit made a fortune by investing in this pioneering technology. These are the small devices connected with sensors to collect and analyze information about an individual and deliver useful insights to the end-user. The pre-requisite of creating smartwatches, virtual glasses, fitness bands was to build small-sized, energy-efficient devices.
Farming:- Countries that drive their national income mainly from agriculture; benefited heavily from IoT. Soil is the fundamental component to grow good crops, and IoT devices inform farmers about their soil condition. IoT sensors furnished the farmers about the various stages of their land soil to turn traditional farming into smart farming. It increments the food supply by optimum utilization of resources like keeping a check on nutrients, monitoring water usage, and customizing fertilizers for better yield. Farmers can manage livestock from remote places with the help of IoT.
Smart grid:- Electricity is not untapped from the benefits of IoT too. The distribution network becomes more reliable due to smart grids. The role of a smart grid is to collect data and examine consumer behavior to boost efficiency. Intelligent meters equipped with sensors monitor the activities of consumers and service providers to analyze the patterns. It manages electricity faults, power outages, repairs, and maintenance proficiently.
Healthcare:- The healthcare industry is growing by executing IoT in its sector. Doctors are becoming well-informed about their patient’s condition. It helps them to monitor patients even outside the hospital and analyze the metrics to keep them healthier. Inbuilt sensors in hospital beds analyze blood pressure, body temperature, heartbeat, and allow doctors to customize the treatment process for better results. Intelligent medical devices are revolutionizing the treatment process to combat illness effectively.
Hospitality:- Customer services are becoming qualitative and innovative after the inception of IoT. Senor keys to open doors is one such application of IoT in the hospitality industry. By integrating the system under IoT to provide room services, fulfill orders, attending guest requests enhances customer experience. It simplifies the check process for guests to save their time rather than making them wait in the long queue. Hotels are improving their services by responding to the insights they get about their guests with IoT.
The Internet of things is unwrapping innumerable opportunities for companies to grow their business and increase their customer base. Enterprises from different sectors are investing millions of dollars in this technology to make customer-friendly smart devices. The trending technology IoT is impacting individual lives to improve their lifestyle. A wide range of devices can now connect and transform our working style. Some of the benefits that organizations can leverage to get a competitive edge are:-
Optimum cost:- IoT helps to sustain the business for a long time at a minimum cost. Organizations can manage the workflow smartly by connecting devices to the internet and monitor the key areas to prevent future damages. The manufacturing industry is earning high revenues from IoT by supervising the production line and reducing downtime by predicting future failures. Smart infrastructure can cut costs immensely by keeping an eye on the unnecessary usage of electricity in the building. Real-time analytics helps in maximizing productivity and managing the departments efficiently.
Workplace Safety:- IoT helps in keeping the surroundings secure for your employees. Many companies are working to strengthen the security around IoT devices to protect the data from outside attacks. It helps to mitigate high risks and aver disasters for the working staff. Industries prone to danger like mining, construction, manufacturing make sure that their staff use wearables to protect them from any mishappening. Surveillance devices help small scale firms to check on them from time to time. Jewelry shops also use smart locks to safeguard their valuable assets.