The Internet of Things, or popularly known as IoT, has changed the way people have lived for centuries. The high-tech lifestyles, pollution control, smart homes, smart appliances, and energy-saving solutions all have been possible due to the IoT.
The Internet of Things is a network of physical objects or things fixed with software or sensors, with the sole purpose of connecting, exchanging, and sharing data with other devices over the internet. In simpler words, IoT refers to the billions of devices connected to the internet, and all of them are collecting and sharing data at all times.
Why Is IoT the Most Important Invention of the 20th Century?
IoT is one of the most important technologies that we use in our everyday life. With the help of IoT, we can live and work smarter and control all aspects of our lives. It has just made our life much easier.
The Internet of Things is vital for the business aspect as well. It gives us real-life data and information on how the system works. It provides a detailed insight into everything from the performance of machines to logistic operations.
IoT enables companies to automate their processes and reduce labor as well as maintenance costs. The new technology can predict the maintenance of machines, thus informing the management before it fails. By preventing downtime with the help of IoT, companies could save more than $2 million every three years.
Popular and Significant Applications of IoT
IoT has moved much beyond the simple connectivity of laptops and smartphones. It’s now moving towards connected cars, wearables, hospitality, homes, and many more. According to a survey conducted by HP, by 2025, we will have approximately 1 trillion connected devices across all technologies. With IoT, we are slowly moving towards a fully automated world.
To give a peek at how IoT affects our daily lives, here are a few areas where smart devices have transformed our way of living and working.
1. Hospitality Industry
IoT is helping to transform the hospitality industry by allowing them to serve their customers better and improve operational efficiency. With the help of IoT, you can keep your customers updated about energy utilization and workload savings.
IoT makes it possible to automatically switch off lights and other electrical appliances when the consumer leaves their room. It can help in saving hundreds of dollars and cutting down the expenses.
With the help of automated check-in, customers can use self-serving kiosks to check themselves in and avoid long waiting queues. It not only saves their time but also cuts down the expenses of hiring more people.
2. Smartwatches and Fitness Bands
Smartwatches and fitness bands are the most popular applications of IoT. These watches, equipped with varieties of sensors and wireless protocols, collect our data on a real-time basis. This data is then processed to extract essential information.
For instance, Apple’s Smart Watch keeps collecting your health-related data, including your blood pressure and heart rate, at regular intervals. If your blood pressure peaks or your heart rate drops, the watch automatically sends the data to your doctor’s connected device.
Smartwatches and fitness bands can change your perspective towards healthcare. These watches monitor your heart rate, sleep habits, and other physical activities constantly to give you a real-world analysis of your health. They can also be used to improve your overall well-being by suggesting applications designed around your specific health conditions.
3. IoT Retail Shops
With the Internet of Things, it is now possible to connect the physical and digital worlds. IoT enables a smart shopping experience for you, and at the same time, helps retailers increase their revenue.
Amazon, the eCommerce giant, has come up with future stores with the help of IoT. AmazonGo, popularly known as a ‘just walk out’ store, has gained much attention worldwide. These stores do not have any cashiers or registers, and you never have to wait in line. These stores have integration with the AmazonGo app.
The store is made possible with the help of deep learning and IoT. This technology catalogs when items are taken off or returned to the shelf. It keeps track of your virtual cart. You can take all the products you need and walk out of the store. Your virtual cart gets charged, and a receipt is sent to you within minutes. The AmazonGo store has improved the user experience along with cutting costs for the company.
With the introduction of the intelligent shelf, retail shop owners can now display product names, prices, and real-time inventory information to their customers through edge displays. The shelf equipped with high-definition optical sensors can automatically detect the customer’s age, attention span, and gender to optimize their shopping experience.
4. Self-Driven Cars
With Tesla, the dream of driverless cars has now become a reality. These self-driving cars use a highly complex version of the Internet of Things to work on their own.
IoT connects Self-driven cars to the cloud system. This system gathers the information of the car’s road, real-time information about the vehicle when it’s moving, traffic information, navigation details, and many more. The car’s computer systems then analyze this information so that it can drive on its own. All of this processing is happening in real-time with the help of the Internet of Things.
More than 90% of all accidents are the results of human error. These driverless cars take humans and their emotions out of the driving experience and eliminate crashes and accidents.
A computer system can efficiently compute the environment status and traffic conditions faster than a human mind. Self-driven cars would not only allow us to enjoy the ride but could make our ride much safer.
5. Intelligent Supply Chain Solutions
The Internet of Things has revolutionized the Supply Chain Management system. With the help of IoT, you can now track every step of the supply chain. From production to transportation to retail stocking, you can now monitor everything from your computer screen. It has made the process of Supply Chain management much more transparent.
Tive is a Boston-based AI startup that captures all the real-world data. Through their sensors and software, Tive helps customers keep a real-time check on their products while getting shipped.
The software notifies the customers about any shocks, vibration, or tilt suffered by their package that may damage their product. It helps the customers to expedite the return process for their package. The software can also trace when the package was damaged so that the shipping company can adjust its future routes.
The Internet of Things can be used to get inventory information from the supplier to the shelf much more efficiently. It can also be used for transportation management systems, warehouse management systems, and route accounting systems.
Future of IoT
IoT is evolving and being used and experimented with tons of new objects and services far beyond our expectations. As the prices of sensors and communication devices continue to drop every year, more services and devices will get connected to this growing technology.
When combined with agriculture, healthcare, industries, manufacturing, and others, the future of the Internet of Things seems limitless. The latest trends in IoT promise us that the future has already begun, and the technology will keep changing our lives for the better.
