By now you may have heard Internet of Things, sounds interesting but what is the Internet of Things actually means.
Internet of Things(IoT) is an evolution of mobile, home and invented application that will be in connected with the internet integrating greater computer capabilities and using data analytical to give meaning full information.
Billions of devices will be connected to internet and soon hundreds of billions of devices as already devices connected with each other, they can become an intelligent system of systems and when this intelligent system of systems share data over the cloud and analyse it they can transform our business, our lives and our world in countless ways.
Some Example Applications for Internet of Things:
- In Home: Remotely monitor and manage your home and cut down on your monthly bills and resource usage.
- In City: Engage with the data exhaust produced from your city and neighborhood.
- In Industries: Optimize operations, boost productivity and save in resources and costs.
- In Environment: Understand and better manage what we currently have
As per the report by GE on industrial applications for intelligent machines they say with efficiency gains for systems of just 1% could result in 15 year savings of:
- $30 billion worth of jet fuel for the airline industry
- $63 billion in global health care savings with more optimized treatments, patient flows, and equipment use in hospitals.
- $66 billion savings in fuel consumption for the global gas-fired power plant fleet.
We are in the early stages in the creation of an Internet of Things and the above examples provide just a glimpse into what is possible when you combine sensors, actuators, and networked intelligence.