Will the day come that we can simply look down at our wrist and get a full, up-to-the-minute report on our health status? Might our refrigerator soon bypass us entirely and tell our car to remind us that we are low on milk? Science fiction? On the contrary, this reality is within reach of us all!
Much is being said these days about Artificial Intelligence and Robotics taking over our world, but we are actually experiencing the advent of a Fourth Industrial Revolution, or Industry 4.0 and we barely realize it. These technologies that “talk” to each other are changing the way we work and live, and today on Ever Widening Circles (EWC) we dive into that world of possibility. IoT, or “Internet of Things” is a term we will be hearing a lot about. It allows everyday objects such as a clock, a TV, a refrigerator, your car, your home, and even your body to have computing and communication capabilities when connected to the Internet.
Businesses could develop a deeper understanding of each customer as an individual and deliver an entirely new level of value. Decision makers will have mountains of data from sensors everywhere and they will be able to make much more sophisticated decisions. Service industries like Uber, for example, will use data collected on smartphone sensors to monitor traffic in real time, and that data will be used to make decisions about the required number of drivers.
- With moment-to-moment data, the price of everything could become hugely dynamic. The law of supply and demand will play out in real time!
So the biggest impact of IoT, will not be the things that are easily perceived. IoT will be more like the natural flow of things.
In fact, these new innovations may eventually do more than just make life easier. It sounds like the volume of data to be collected will expand our entire understanding of the world around us. We’ll know exactly how much is consumed or produced, on everything from electricity to diapers, from irrigation water to perspiration, from calories to contagious disease particles.
The Internet of Things could make us smarter about how we manage every resource on the planet.
It’s safe to say the world is already a better place to live with the Internet of Things and the possibilities are limitless. Here’s one last short, thought-provoking video to go out on. Let’s have a look at an average school day with IoT!