What is the Internet of things?
The Internet of Things (IoT for short) is an increasingly popular term that some of the largest technology companies in the world are throwing around. So what exactly is the Internet of Things? Quite simply, the Internet of things is the concept that any device with an on/off switch will eventually be connected to the Internet.
Many people have already experienced this phenomenon, most recently in the form of cars that come with 4G LTE Wi-Fi connectivity.
In a recent study, Gartner predicted that by 2020 there will be over 26 billion devices connected to the Internet and to each other.
How Could the IoT Benefit Businesses and Consumers?
Imagine your alarm clock going off and immediately the coffee maker starts brewing your morning coffee. What if your office printer knew when toner and paper supplies were low and automatically ordered replacement supplies?. These are just a few examples of how the IoT can have meaningful impacts on businesses and consumers alike.
Challenges the IoT could present to businesses and consumers?
The IoT is still in its infancy stage, so there are many questions and concerns to be addressed. One of the main concerns is data protection and security. Will there be IoT-related industry standards to protect consumers and businesses from hackers? Will personal information be more readily available than ever before?
Advancements in the IoT continue to be revealed and many large businesses and entities have begun to take notice of the incredible impact this phenomenon could have on the world. In fact, the White House has even taken notice. In a press release dated September 14th, 2015 the Obama Administration declared that it will be allocating $45 Million into the research and development of Smart Cities.