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Reading: The Internet of Things
Source: https://www.linkedin.com/pulse/article-internet-thingsiot-deepak-sreesaran-s/
The Internet of Things (IoT) describes the network of physical objects—“things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet. These devices range from ordinary household objects to sophisticated industrial tools. With more than 7 billion connected IoT devices today, experts are expecting this number to grow to 10 billion by 2020 and 22 billion by 2025.
Over the past few years, IoT has become one of the most important technologies of the 21st century. Now that we can connect everyday objects—kitchen appliances, cars, thermostats, baby monitors—to the internet via embedded devices, seamless communication is possible between people, processes, and things.
By means of low-cost computing, the cloud, big data, analytics, and mobile technologies, physical things can share and collect data with minimal human intervention. In this hyperconnected world, digital systems can record, monitor, and adjust each interaction between connected things. The physical world meets the digital world—and they cooperate.
Industrial IoT (IoT) refers to the application of IoT technology in industrial settings, especially with respect to instrumentation and control of sensors and devices that engage cloud technologies. Refer to this Titan use case PDF for a good example of IoT. Recently, industries have used machine-to-machine communication (M2M) to achieve wireless automation and control. But with the emergence of cloud and allied technologies (such as analytics and machine learning), industries can achieve a new automation layer and with it create new revenue and business models. IoT is sometimes called the fourth wave of the industrial revolution, or Industry 4.0. The following are some common uses for IoT:
- Smart manufacturing
- Connected assets and preventive and predictive maintenance
- Smart power grids
- Smart cities
- Connected logistics
- Smart digital supply chains
IoT Intelligent Applications are prebuilt software-as-a-service (SaaS) applications that can analyze and present captured IoT sensor data to business users via dashboards. We have a full set of IoT Intelligent Applications.
IoT applications use machine learning algorithms to analyze massive amounts of connected sensor data in the cloud. Using real-time IoT dashboards and alerts, you gain visibility into key performance indicators, statistics for mean time between failures, and other information. Machine learning–based algorithms can identify equipment anomalies and send alerts to users and even trigger automated fixes or proactive counter measures.
With cloud-based IoT applications, business users can quickly enhance existing processes for supply chains, customer service, human resources, and financial services. There’s no need to recreate entire business processes.
IoT is reinventing the automobile by enabling connected cars. With IoT, car owners can operate their cars remotely—by, for example, preheating the car before the driver gets in it or by remotely summoning a car by phone. Given IoT’s ability to enable device-to-device communication, cars will even be able to book their own service appointments when warranted.
The connected car allows car manufacturers or dealers to turn the car ownership model on its head. Previously, manufacturers have had an arms-length relationship with individual buyers (or none at all). Essentially, the manufacturer’s relationship with the car ended once it was sent to the dealer. With connected cars, automobile makers or dealers can have a continuous relationship with their customers. Instead of selling cars, they can charge drivers usage fees, offering a “transportation-as-a-service” using autonomous cars. IoT allows manufacturers to upgrade their cars continuously with new software, a sea-change difference from the traditional model of car ownership in which vehicles immediately depreciate in performance and value.
Vocabulary
- Household
- Appliances
- Seamless
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