What’s the Big Deal for IoT
The business value of the Internet of Things, how it impacts our lives, and the future implications for society
When it comes to IoT, many of us ask about what the big deal is or whether IoT is just hype. In my view, the development of IoT has not come about through hype; the big deal surrounding IoT is the extended intelligence introduced to our lives by providing the connection of devices and the use of massive data transforming into knowledge and real-life actions.
Substantial progress has been made in many disciplines owing to the use of IoT in creating new services and products. Some of these disciplines include environmental monitoring, manufacturing, infrastructure management, energy management, agriculture, healthcare, transportation, IT, electronics, material sciences, financial sectors, and banking.
Another major reason for the success of IoT is its fast-paced progress of IoT. In the market, it is noticeable that IoT technologies are emerging, and IoT solutions are growing exponentially. Some organizations estimate that we will have billions of devices in the next few years.
The bottom line is that IoT is valuable for both business growth and the global economy. From the current market experience and industry trends, we can construe that IoT will most likely have a substantial impact on our future economy and the way we do business and commerce in the coming years.
Consumers and service providers have an incredible interest and focus on this amazing technology powered by the Internet. For example, one major consumer use case for real-life actions for IoT is able to manage our cars, homes, workplaces, and many devices intelligently, efficiently, securely, and remotely, whenever we need them.
IoT for Artificial Intelligence & Cognitive Computing
IoT is the key enabler for Artificial Intelligence and Cognitive Computing by providing the critical data these autonomous systems need. Simply put, no intelligent data, no AI. I shared my views in the following two articles.
There are many views and speculations that the IoT can be as important as the emergence of the internet itself. Some even point out that it can be the next big thing in our lives. These are, of course, speculations combined with some media hype; however, time will tell as to whether the high expectations of IoT will be met.
Ignoring the hype, let’s briefly touch on the specific benefits and value propositions.
Business Benefits & Value Proposition of IoT
The main benefit and value proposition of IoT comes from collecting an enormous amount of data from various means and devices and then building services based on analyses of this massive amount of data. Building new services from such a collection of data would result in a substantial outcome with multiple implications.
IoT solutions (products and services), paradoxically, allow us to learn more about ourselves from various angles than ourselves alone. What does this statement mean?
Let me give you a simple example taken from daily life. There are several IoT devices on the market that can provide us with information on numerous health factors, such as sleep, nutrition, exercise, and blood tests.
A sophisticated smartwatch can monitor our health, alert us about risks and take appropriate actions for us. For example, I use a simple Fitbit device that can inform my sleep patterns, as it is naturally impossible for me to monitor my own sleep without using such a device. Hence, such devices have real value in extending our human capabilities when implemented in daily life.
Another value of the IoT is that it helps us predict the future. The more data provided to the IoT systems, the better the analyses and outcomes can be. These data-rich analyses help us predict the future better and intervene before any potential damage occurs. IoT enriches the capabilities of predictive analytics.
As IoT synthesizes data via cognitive analytics, IoT solutions can help us gain better insights from structured, unstructured, dynamic, and static data by integrating with cognitive systems. Like humans, a cognitive system undertakes the duties of learning, understanding, planning, problem-solving, deciding, analyzing, synthesizing, and assessing situations.
IoT solutions can be used in many facets of our lives to control our economies. These solutions can be used at home or in our workplaces for various reasons.
For example, some IoT solutions can be used to reduce food wastage, while they can inform us when food is needed and where it is needed. Such solutions, for instance, can be implemented in the fridges in our kitchen, which connect to various other locations, such as grocery stores by means of automated solutions.
Several applications are used for IoT.
Some typical applications of IoT solutions
Several applications are used for IoT. Here is a list to give you an idea.
Home automation and control such as smart lighting
Home Entertainment
Industrial control & robotics
Medical data collection
Workplace safety and security
Embedded sensing in buildings
Remote industrial control e.g. agricultural
Traffic control
Self-driving cars
Future Implications of IoT
The generation of new business for companies and new job roles that we cannot even name yet is imminent.
IoT systems are expected to get smarter and be more ubiquitous.
These progressive smart devices will be able to predict what we need and want: even better than what our primitive brain dictates!
These devices are expected to construct bridges between generations.
For example, IoT devices can help us create a memory repository, which can then be passed on to the next generations to preserve knowledge and shed light on their ancestral heritage.
As a philosophical thought experiment, imagine, IoT existed 5000 years ago!
We could have learned so much about our ancestors.
We wouldn’t have made the terrible mistakes they made.
Regrettably, human history is full of pain and suffering caused by decisions made by our primitive brains.
Hopefully future will be brighter with the enlightenment of data-driven decisions we can make by using more of our pre-frontal cortex.
From a technological point of view, as an extended electronic ecosystem, IoT solutions can help to eliminate cumbersome technology. For example, undesirable noise, screens, and hardware clutter can shade gradually, and we only deal with the active service providers around us.
In other words, technology can be supportive rather than intrusive.
Thought Leaders on IoT
To be successful and benefit societal benefits of IoT, we need mass collaboration on a global scale. There are many thought leaders generating ideas, designing, and implementing terrific solutions.
My inspiration to write this article came from a surprising post on LinkedIn by the Thinkers360 tagged my account.
The post is introducing the top 50 thought leaders and influencers on IoT in February 2020.
I am honored to be included in this list assessed and presented by the Thinkers360.
Related Articles
I shared several articles on IoT on Medium: the IoT Magazine and the Data-Driven Investor. Hope these short articles provide useful perspectives on various aspects of IoT from architecting and solution design perspectives.
Since there was a gap in the body of knowledge, as a veteran of IoT, I documented my IoT architectural and design experience in a practical guide aiming to share my experience from the field with aspiring Solutions Architects planning to architect and design solutions in the industry.
The book is titled A Practical Guide for IoT Solution Architects.
Sample Health Improvement Articles for New Readers
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I also write about valuable nutrients. Here are the links for easy access:
Boron, Urolithin, taurine, citrulline malate, biotin, lithium orotate, alpha-lipoic acid, n-acetyl-cysteine, acetyl-l-carnitine, CoQ10, NADH, TMG, creatine, choline, digestive enzymes, magnesium, hydrolyzed collagen, nootropics, pure nicotine, activated charcoal, Vitamin B12, Vitamin B1, Vitamin D, Vitamin K2, Omega-3 Fatty Acids, and other nutrients that might help to improve metabolism and mental health.
Disclaimer: Please note that this post does NOT include health or professional advice. I documented my reviews, observations, experience, and perspectives only to provide information and create awareness.
I publish my lifestyle, health, and well-being stories on EUPHORIA. I wrote several articles on major diseases and valuable nutrients for health. My focus is on metabolic, cellular, mitochondrial, and mental health. Here is my collection of Insightful Life Lessons from Personal Stories.
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