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It happens almost every year that the product is launched in the global market with the catchphrase "smart" written as a prefix to the product name, and immediately falls
into the category of the Internet of Things (IoT). Kevin Ashton, the Massachusetts Institute of Technology (MIT), the Internet of Things, the "Internet of Things" was coined by him, ridiculed by the IoT by
naming everything with addition of "smart". He said:
You can see stuff like the smart wine bottle, the smart bikini, and the smart water bottle. This stuff is not the Internet of
Things - this stuff is all rubbish ".
The IoT Ecosystem:
The 'real' IoT is no less than an ecosystem where:
- macro decisions are made for the sake of the utilization of resources.
- The date is turned into actionable insights.
The ecosystem was created by the IoT, which includes human and machine tools, which interact with one another, as the ecosystem involves human-to-human communication, or vice
versa. To be more precise, the IoT could have been used for technology that offers everything like everything. The IoT emerged with the primary goal of not only
enabling the people of the consumption of data but also the contribution of data to the IoT through their smartphones, tablets and sensory devices. This bi-directional communication becomes possible by the
combination of networked digitized data inputs placed on networks, and the integration of data, people and processes become a matter of observation for complex problem solving, critical thinking and decision
making roles. This integration takes place in various sectors, including but not limited to geo-mapping and locating companies, energy and power companies, safety and cybersecurity, supply chain management,
transportation, defense, agriculture, food, banking, financial and Keywords cloud, API, etc.) and customer relationship management (CRM) and support. As far as the integration of people is concerned, 40-80b
smartphones and tablets are expected to be connected to the Internet of Things worldwide. This accounts for about 10 devices to be connected to each and every
person by the next year. It was in 2016 that approximately 63 devices were connected to the IoT ecosystem in the matter of a second.
Enablers of IoT:
The technologies that are enabling the 'real' IoT for more than a decade are many in number. The complexity of the system is
huge.
Big Data - an unstructured, vast amount of data, generated in numerous ways including internet browsing and surfing, placing sensor in the soil, seas and oceans - as mankind
continues to strive for the conquest of the seas and the ocean after the conquest of the moon and the space is converted into actionable insights using IPv6 (for digitizing data inputs and placing them onto networks), sensors (including but not limited to
optical ambient light sensor, proximity sensor, motion sensor, temperature sensor, humidity sensor , acoustic sensor, flow sensor, pressure sensor, leak sensor and acceleration sensor), bandwidth, processors, smartphones acting as a gateway, and universal
wireless Internet coverage in the form of Wi-Fi.
IoT & Connectivity:
It may seem that the IoT is all about connectivity of billions of devices and billions of 'things' (in accordance with the terminology of IoT, people are also referred to as
things). But this is not the case. The IoT finds its shares in the application development, device hardware, system integration, data storage,
security online help and then connectivity. IoT is home to some of the biggest market opportunities with a $ 6 trillion market spending over 5 fiscal years (2015-2020).
IoT & the Business Disruption:
The extremely powerful trend of IoT is the key to the disruption of the business sector, alone alone the technology sector.
New revenue generation, new revenue generation, new revenue generation opportunities, revenue streams and financial products for products and services that already
exist but not thrive anymore in the consumer market .
- Not only this, but the IoT can be used for the incorporation of new business practices and business processes and can be used as existing, business models and business and
marketing strategies.
- Adding to this way for new markets and industries could be easily paved and could provide competitive advantage to companies.
In conclusion, the 'real' IoT could be of great benefit if utilized properly for moonshot innovation.