The Internet Of Things
Everything is connected to the internet. Well, not everything, but almost the Internet of Things, or IoT is a system of devices, computers, digital machines, and even people and animals that can transfer data over a network. As long as a thing has a unique identifier or IP address. It's part of this system. Things in this system include cell phones, laptops, devices that obviously connect to the internet and share data. But IoT also includes a person with a heart monitor implant, a farm animal with a bio chip transponder, or a car alerting the driver of low tire pressure, especially with developments in AI. IoT is having an increased impact on our lives and work.
So how does an IoT ecosystem work? Well, every thing or device has some kind of embedded (=built-in) system that enables it to collect, send and act on data. So first, an IoT device, like a sensor or antenna will collect data about its environment. Next, the device will connect to an IoT Hub or gateway, which enables the data to be analyzed, like with an app on your phone, or a business's ERP system. IoT supports smarter working with more control across industries. IoT enables process automation, analysis and insight, labor reduction, and performance monitoring. For example, IoT monitoring devices on factory equipment allows facility managers to monitor and manage equipment remotely and can warn about machine downtime. Airlines use IoT sensors to produce real time data and report on the condition of engines. In agriculture, smart farming systems can monitor light, temperature, humidity, and soil of crops and automate irrigation systems. Even Disney World benefits from the tech while wristbands let visitors check in buy food and gain entry to rides. The data is also being collected to track visitor movement and determine which park areas are busiest and need attention.
However, there are some challenges to IoT, security and privacy. As the number of connected devices and shared information increases the attack surface and potential for hackers to steal information increases too data management. The massive amount of data shared and devices on the network can be difficult for enterprises to collect and manage mass corruption, as any system bug will likely affect all devices connected to the network.
And lastly, compatibility issues. There's no international standard of IoT compatibility, meaning devices from different manufacturers can have trouble communicating. But for now, the pros seem to outweigh the cons (=there are more benefits). Businesses are increasingly adopting IoT to improve efficiency, customer service and decision making to ultimately generate more revenue. And market experts predict IoT adoption and spending will grow exponentially over the next few years.
performance monitoring = the process of observing and analyzing how a system and its components work
machine downtime = periods when a machine is not operational and cannot perform production tasks
wristband = a strip of material worn around the wrist, especially for identification or as an accessory
compatibility = the ability of one computer, piece of software, etc. to work with another