What is Internet of Things (IOT) and how will it have an impact on us in 2019?
IOT or 'Internet of Things' is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs). They hold the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction but more of a machine to machine connection.
The 'smart home' seems to be gaining popularity everywhere. The number of advertisements I have seen, promoting home connectivity solutions is growing every day, and some people seem to have remote access to almost every aspect of their households, such as lights, heat and security systems.
We recently purchased a smart device that reduces energy costs, using sensors that detect if you are in the room or how far you are from home.The temperature can adjust automatically- by turning on the central heating if sensors detect the living room is full or turning the heat down if everyone is out. Whilst this seems convenient on the surface I began to question the advantages of using such devices.
Other examples I have seen are when you can use your smartphone in order to arm your burglar alarm, turn on lights and even monitor front door cameras from phones. It seems that IoT access can be extended to any household device. People can use their mobile devices in order to control the stereo, the stove, the vacuum cleaner, the toaster or any other device with an IoT system. Machine-to-machine communications are also part of the new IoT-enabled smart home. For example, a fire or security breach can send an alert to your mobile phone at the same time it alerts the local fire department or police. Your alarm clock can even be programmed to start your coffee maker in the morning. The possibilities seem endless.
As more aspects of the smart home are enabled by IoT technology, consumers continue to expect more. As a result, companies are looking for new ways to provide remote access to household devices, including centralising data management and gathering data about consumer usage of IoT systems.
IoT seems the next big thing that is going to completely change the way humans live in 2019 just the way internet did a few decades back.
The world of Internet of Things (IoT) has opened us all to a world where we now have the power to automate, protect, and monitor our houses like never before. Not only this, one can now keep an eye on their children while out for work, integrate a home television system, protect the house from theft. So it follows that IoT could prove to be a safe bet when thinking about future business ideas.
As we enter 2019 the number of connected devices will only increase as more organisations begin to realise the benefits of IoT technologies. I expect we will see the birth of a smarter IoT, where fully connected businesses will begin to pull data for more predictive use.
Even though the consumer market is in the early stages, the smart home and connected devices markets should continue to grow. We expect to see a growth in the availability of IoT smart home products as the expansion of consumer products will surpass the usual mainstream lighting, heating, cooling and other smart home devices areas, and instead deliver increased automation and efficiency to everyday tasks.
Potential security risks that worry us are that our devices could spy on us and our kids. Many IoT devices could be vulnerable to hacking. Our devices are never really like ours, even after we have paid for them. It is almost impossible to know what you’re getting yourself into, or how long it will last. It could potentially detect our moods, our habits and our lifestyle. I recently read that a toilet seat could have a IOT device attached to it that detects if you are pregnant, carry a virus and monitor your overall health. You could then access this information using an app on your phone and can even be linked to your GP.
The advantages of IOT seemly great for businesses because they could monitor their overall business processes, improve the customer experience and save time and money. They could also be used to
enhance employee productivity, integrate and adapt business models, make better business decisions and generate more revenue. With this consumer demand in mind it could be an ideal opportunity to start our own online business and take advantage of the digital economy.
To find out how to start your own online business you can take a look at my websites below or sign up here directly. There are a variety of courses to suit your needs as a digital entrepreneur. Disclaimer: Start up costs and overheads are lower on an online business than for a traditional business. This blog post is information and from my personal opinion only and I take no legal responsiblity for profits or losses that occur from your business or investments.