What is the Internet of Things?
The Internet of Things, or IoT, refers to the billions of physical gadgets across the world that are connected to the internet and collecting and exchanging data. It is feasible to “collect information, analyze it, and develop an action” to assist someone with a specific activity or learn from a process by merging these linked devices with automated systems. In practice, this can include everything from smart mirrors to beacons in stores and beyond.”It’s about networks, it’s about devices, and it’s about data,” Caroline Gorski, Digital Catapult’s head of IoT, adds. IoT allows things connected to a closed private internet connection to talk and share information with one another “These divergent networks are linked by the Internet of Things. It enables gadgets to engage not only within closed silos but also across other types of networking, resulting in a significantly 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. It is now possible to connect common objects to the internet via embedded devices, such as kitchen appliances, autos, thermostats, and baby monitors, allowing for seamless communication between people, processes, and things.
Thanks to low-cost computers, the cloud, big data, analytics, and mobile technologies, physical items can communicate and collect data with minimal human contact. In today’s hyperconnected world, digital systems can record, monitor, and change every interaction between connected devices. Although the physical and digital worlds clash, they complement one another.
What Technologies have made IoT possible?
- Sensor technology that is both low-cost and low-power is available. Thanks to the availability of low-cost, high-reliability sensors, IoT technology is becoming more accessible to more manufacturers.
- Connectivity. A number of internet network protocols have simplified the process of connecting sensors to the cloud and other “things” for quick data transfer.
- Cloud computing platforms Cloud platforms are becoming more widely available, allowing businesses and consumers to obtain access to the infrastructure they require without having to manage it all on their own.
- Analytics and machine learning. Businesses can acquire insights faster and more simply thanks to developments in machine learning and analytics, as well as access to diverse and large volumes of data stored in the cloud. The advent of these linked technologies continues to push the frontiers of IoT, and IoT data feeds these technologies as well.
- Artificial intelligence that converses (AI). Natural-language processing (NLP) has been brought to IoT devices (such as digital personal assistants Alexa, Cortana, and Siri) thanks to advances in neural networks, making them more appealing, inexpensive, and feasible for home-usage.
What is industrial IoT?
The use of IoT technology in industrial settings, particularly in terms of sensor and device instrumentation and control using cloud technologies, is referred to as Industrial IoT (IIoT). Take a peek at this Titan use case PDF for a good illustration of IIoT. Machine-to-machine communication (M2M) is a new technology that allows for wireless automation and control in a variety of industries. Businesses may achieve a new level of automation and, with it, new income and business models, thanks to the advent of cloud and related technologies (such as analytics and machine learning). Industry 4.0, or the Internet of Things, is the fourth phase of the industrial revolution.
The following are some common uses for IIoT:
- 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
As IoT becomes more frequently employed in the marketplace, businesses are capitalizing on the enormous business value it may provide. These benefits include:
- Improving corporate management with data-driven insights from IoT data
- Increasing the effectiveness and productivity of business operations
- New revenue streams and business models are being developed.
- To expedite time to value, connect the real and digital worlds in a simple and seamless manner.
How is IoT changing the world? Take a look at connected cars.
By enabling connected cars, the Internet of Things is revolutionizing the automobile. Car owners can use IoT to control their vehicles remotely, such as preheating the vehicle before the driver gets in it or hailing a car by phone. Cars will be able to book their own servicing appointments when necessary, thanks to IoT’s capacity to facilitate device-to-device communication. Carmakers and dealers may use the connected auto to flip the car ownership model on its head. Previously, manufacturers and individual buyers had an arm’s length connection (or none at all).
When the car was delivered to the dealer, the manufacturer’s relationship with it effectively terminated. Automobile manufacturers and dealers can maintain a continual interaction with their customer’s thanks to connected cars. Instead of selling automobiles, they may charge drivers usage fees and provide “transport-as-a-service” with self-driving vehicles. IoT allows car manufacturers to regularly update their vehicles with new software, which is a significant departure from the traditional paradigm of auto ownership, in which vehicles rapidly deteriorate in performance and value.