Internet of Things (IoT) is an ecosystem of connected physical objects that are accessible through the internet. The ‘thing’ in IoT could be a person with a heart monitor or an automobile with built-in-sensors, i.e. objects that have been assigned an IP address and have the ability to collect and transfer data over a network without manual assistance or intervention.
2. What is IoT?
• Internet of Things (IoT) is an ecosystem of connected
physical objects that are accessible through the
internet. The ‘thing’ in IoT could be a person with a
heart monitor or an automobile with built-in-sensors,
i.e. objects that have been assigned an IP address and
have the ability to collect and transfer data over a
network without manual assistance or intervention.
3. Why IoT?
• It enables devices/objects to observe, identify and understand a situation or the surroundings without
being dependent on human help.
• GPS systems, alarms systems and thermostats will be sending and receiving continuous streams of data to
monitor and automate all your activities in automobiles and homes.
• Lights and thermostats will operate autonomously to save on energy costs. They will be turned off
automatically when everyone will leave the place.
• IoT will enable intelligent transport solutions, speeding up traffic flows, reducing fuel consumption and
prioritizing vehicles repair schedule.
• There will be smart doorbells, locks and surveillance systems, giving you information about who’s in front
of the building at any point of time, thus ensuring your peace of mind.
• Smart electric grids will help in efficiently connecting renewable resources, improving system reliability and
charging consumers based on smaller usage increments.
• It will help your business to improve customer service and customer personalization, accelerate process
optimization, address real-time business needs, threats and opportunities and make forecasting more
effective.
4. How does it work?
• Devices and objects with built in sensors are connected to an
Internet of Things platform, which integrates data from the
different devices and applies analytics to share the most
valuable information with applications built to address specific
needs.
• These powerful IoT platforms can pinpoint exactly what
information is useful and what can safely be ignored. This
information can be used to detect patterns, make
recommendations, and detect possible problems before they
occur
5. Future of IOT
• Nearly $6 trillion will be spent on IoT solutions over the next five years.
• Businesses will be the top adopter of IoT solutions. IoT can improve their bottom
line by 1) lowering operating costs; 2) increasing productivity; and 3) expanding to
new markets or developing new product offerings.
• Governments are focused on increasing productivity, decreasing costs, and
improving their citizens’ quality of life will be the second-largest adopters of IoT
ecosystems.
• So the areas with IOT will be artificial intelligence, machine learning and intelligent
devices catering to applications of - Connected homes, smart cities, transportation,
manufacturing, healthcare, utilities (smart grid) and agriculture.
6. Advantages of IoT
• 1. Data: The more the information, the easier it is to make the right decision.
Knowing what to get from the grocery while you are out, without having to check on
your own, not only saves time but is convenient as well.
• 2. Tracking: The computers keep a track both on the quality and the viability of
things at home. Knowing the expiration date of products before one consumes them
improves safety and quality of life. Also, you will never run out of anything when you
need it at the last moment.
• 3. Time: The amount of time saved in monitoring and the number of trips done
otherwise would be tremendous.
• 4. Money: The financial aspect is the best advantage. This technology could replace
humans who are in charge of monitoring and maintaining supplies.
