The world is changing, and so too are the ways in which we interact with it. The Internet of Things (IoT) has opened up a whole new realm of possibilities for how we can connect to our devices- and each other. We’re on the cusp of a future where virtually everything will be connected to the internet, from cars to refrigerators, TVs to toothbrushes. This blog post discusses what you need to know about IoT’s future impact on your business!
What is IoT?
“IoT” stands for Internet of Things–a network or group of networks that are embedded with microchips and sensors capable of capturing data from physical objects like a car engine or refrigerator, then connecting them via wireless signal so they can collect information 24/365, sending it into the cloud where it can be analyzed by computers or human operators, before being sent back again to various devices connected through the system.
What is IoT? (explanation of the technology)
Two major trends to keep an eye on in 2018 and 2019: Smarter cities, Personalized customer experience ex. One of the most significant ways IoT will shape our future is through “smart” technologies that improve urban living–which includes everything from smarter traffic lights to more efficient water use practices to solar-powered streetlights or bike lanes) Smart technology can also help us rethink how we interact with businesses by tailoring products and services to individual needs based on previously collected data about customers’ preferences. For example, a car company might customize their vehicle options for different drivers depending on the distance they typically travel each week; similarly, grocery stores could offer deals and promotions tailored specifically for you when your phone’s
What should you do with this information if you’re a business owner or looking for ways to connect your company to the future trends? ex. Find out what “smart cities” are and how they use IoT technologies; discuss plans on whether it makes sense in the short term for your organization to start connecting existing systems that collect data about consumers or their homes–or wait until these challenges have been worked out more fully by other companies first)
Challenges for businesses looking to capitalize on this trend.
Security concerns around connected devices that collect data about consumers or their homes are a primary concern among privacy advocates who fear hackers might exploit these vulnerabilities to mine personal information; it’s difficult for companies with legacy systems who may have difficulty integrating new technologies like IoT into their existing business processes, which can cause delays and increased costs as they work out the kinks; many people don’t know how smart home products actually work, so “selling” them takes time–particularly when considering the prohibitive cost of some IoT devices
Future of IoT: is changing our lives in profound ways, from how we shop and socialize with friends to even altering our romantic relationships. The emerging field of internet-connected devices is poised to have an enormous impact on the way we live and work.