WHAT IS IoT?
Simply put, this is the concept of basically connecting any device that has an "on and off" switch to the Internet. This includes everything from cellphones, coffee makers, washing machines, headphones, lamps, wearable devices and almost anything else you can think of. This also applies to components of machines, for example a jet engine of an airplane or the drill of an oil rig. As mentioned, if it has an "on and off" switch then chances are it can be connected. The analyst firm Gartner says that by 2020 there will be over 26 billion connected devices. That's a lot of connections (some even estimate this number to be much higher, over 100 billion). The internet has become a giant network of connected "things" (which also includes people). The relationship will be between people-people, people-things, and things-things.
As Broadband Internet has become more widely available, the cost of connecting is decreasing, more devices are being created with Wi-Fi capabilities and sensors built into them, technology costs are going down, and smartphone penetration is sky-rocketing. All of these things are creating a "perfect storm" for the Internet of Things.
HOW DOES THIS IMPACT YOU?
The new rule for the future is going to be, "Anything that can be connected, will be connected." But why on earth would you want so many connected devices talking to each other? There are many examples for what this might look like or what the potential value might be. Say for example you are on your way to a meeting; your car could have access to your calendar and already know the best route to take. If the traffic is heavy your car might send a text to the other party notifying them that you will be late. What if your alarm clock wakes up you at 6 a.m. and then notifies your coffee maker to start brewing coffee for you? What if your office equipment knew when it was running low on supplies and automatically re-ordered more? What if the wearable device you used in the workplace could tell you when and where you were most active and productive and shared that information with other devices that you used while working?
On a broader scale, IoT can be applied to things like transportation networks: "smart cities" which can help us reduce waste and improve efficiency for things such as energy use. IoT is helping us understand and improve how we work and live.