Have you noticed that the age of digital disruption is upon us? It is a time when organizations are challenged to transform . . . or die. The internet of things is advancing at a mind-boggling pace, and innovative businesses are launching all the time, each raising the bar on consumer expectations just a tad higher. The average business is massively challenged by the demand for near-constant transformation.
Internet of things
The forces of digital disruption are radically altering how we all access and consume information, communicate and socialize, shop and purchase. Ubiquitous connected devices, social networks, cloud services – these and other innovations have already essentially inverted the relationship between sellers and buyers, between brands and customers.
When people talk about “the next big thing,” what comes to mind? I’ve maintained that the future is always within sight, and you don’t need to imagine what’s already there.
Case in point: The buzz surrounding the Internet of Things.
What’s the buzz? The Internet of Things revolves around increased machine-to-machine communication; it’s built on cloud computing and networks of data-gathering sensors; it’s mobile, virtual, and instantaneous connection; and they say it’s going to make everything in our lives from streetlights to seaports “smart.”
So what is the Internet of things?
The Internet of Things (IoT, sometimes the Internet of Everything) is the network of physical objects or “things” embedded with electronics, software, sensors, and connectivity to enable it to achieve greater value and service by exchanging data. Each thing is uniquely identifiable through its embedded computing system but is able to interoperate within the existing Internet infrastructure.
Besides the plethora of new application areas for Internet-connected automation to expand into, IoT is also expected to generate large amounts of data from diverse locations that are aggregated very quickly, thereby increasing the need to better index, store, and process such data.
According to Gartner, Inc. (a technology research and advisory corporation), there will be nearly 26 billion devices on the Internet of Things by 2020. ABI Research estimates that more than 30 billion devices will be wirelessly connected to the Internet of Things (Internet of Everything) by 2020. As per a recent survey and study done by Pew Research Internet Project, a large majority of the technology experts and engaged Internet users who responded—83 percent—agreed with the notion that the Internet/Cloud of Things, embedded and wearable computing will have widespread and beneficial effects by 2025.
Growing Applications
How is M2M being used, and what are its applications and projected benefits in the future? Read on to find out some of the more interesting ones:
Healthcare
Healthcare is a prominent application, and comes under various banners including e-health, m-health, telemedicine, and assisted living. Patients with non-life-threatening conditions can be issued with sensors (for blood pressure, or blood sugar levels for example), sent home, and monitored remotely by medical staff — and can often be shown how to interpret the data themselves. This will free up hospital beds and physicians’ time for more urgent cases.
Consumer devices to encourage healthy living, such as connected scales or wearable heart monitors, are also a possibility with the IoT. More and more end-to-end health monitoring IoT platforms are coming up for antenatal and chronic patients, helping one manage health vitals and recurring medication requirements. They provide distinct advantages over similar products from the US and Europe are cost-effectiveness and personalization for chronic patients. Doctors can monitor the health of their patients on their smartphones after the patient gets discharged from the hospital.
Link health Alliance
Environmental monitoring
Be wise and conserve energy.
Environmental monitoring applications of the IoT typically utilize sensors to assist in environmental protection by monitoring air or water quality, and atmospheric or soil conditions, and can even include areas like monitoring the movements of wildlife and their habitats. Development of resource[55] constrained devices connected to the Internet also means that other applications like earthquake or tsunami early-warning systems can also be used by emergency services to provide more effective aid. IoT devices in this application typically span a large geographic area and can also be mobile.
Infrastructure management
Monitoring and controlling operations of urban and rural infrastructures like bridges, railway tracks, and on- and offshore- wind farms is a growing application of the IoT, especially in a time of rapidly aging infrastructure. IoT can be used for monitoring any events or changes in structural conditions that can compromise safety and increase risk. It can also be utilized for scheduling repair and maintenance activities in an efficient manner, by coordinating tasks between different service providers and users of these facilities.
Let’s look at one example. In 2007, a bridge collapsed in Minnesota, killing many people, because of steel plates that were inadequate to handle the bridge’s load. When we rebuild bridges, we can use smart cement: cement equipped with sensors to monitor stresses, cracks, and warpages. This is the cement that alerts us to fix problems before they cause a catastrophe. And these technologies aren’t limited to the bridge’s structure.
Supply chain
Given that passive RFID tags cost only a few cents, it’s no surprise to find that M2M technology features heavily in supply chain management: the ability to track, in real-time, raw materials and parts through manufacturing to finished products delivered to the customer has obvious appeal compared to patchy data delivered by irregular human intervention. Tracking fleets of vehicles have long made use of GPS tracking, but cellular-equipped sensors can also monitor the condition of sensitive consignments (temperature for perishable food, for example), or trigger automatic security alerts if a container is opened unexpectedly.
Link Perfect intersection: M2M and the supply chain
Security & surveillance
in the security of homes as well as businesses, automated security and surveillance technology offer plenty of benefits to be had. Connected smoke detectors that alert emergency services when triggered, and activate only the appropriate suppression systems; connected burglar alarms can immediately identify the point of entry, and motion sensors that can track an intruder’s progress in real-time are awesome examples of where we are headed.
Retail
The sharp end of the supply chain — retail — is fertile ground for M2M technology, applying to areas such as in-store product placement and replacement, kiosks and digital signage, vending machine management, parking meters, and wireless payment systems. And of course, beacon technology to share maps, and locations, and engage customers is proceeding at breakneck speed.
Link M2M Retail Solutions (Verizon)
First responders Law enforcement
Real-time, constant connection is also enabling law enforcement to more effectively and transparently protect public safety. With the information collected from connected sensors installed throughout a smart city, police officers gain valuable insight into activities as they happen.
Building and home automation
IoT devices can be used to monitor and control the mechanical, electrical, and electronic systems used in various types of buildings (e.g., public and private, industrial, institutional, or residential).[Home automation systems, like other building automation systems, are typically used to control lighting, heating, ventilation, air conditioning, appliances, communication systems, entertainment, and home security devices to improve convenience, comfort, energy efficiency, and security.[70][71]
Perhaps the canonical example of the Internet of Things (and the stuff of many a cheesy futurist visualization) is the ‘smart home’. The components include sensor-equipped white goods, security, lighting, heating, ventilation, and entertainment devices, among others, all connected to a local server or gateway, which can be accessed by the appropriate service providers — and, of course, the homeowner.
Link AlertMe
Environmental monitoring
M2M technology has great potential when it comes to monitoring natural or man-made environments. Suitably placed sensors can provide early warning of pollution, forest fires, landslides, avalanches, and earthquakes, for example. More generally, air, water, and soil quality can be remotely monitored in places of interest, and changes in the abundance and distribution of key species (wildlife or pests) tracked and changes to their habitats logged.
Business models
But actually, the Internet of Things is about much more than things; it’s also about the insights and capabilities that connectivity provides and how these new capabilities can create better value. When I think of a successful IoT case, I often think about Uber, a ride-sharing, a car-hailing app that takes advantage of connectivity information to deliver value to both drivers and passengers.
The bottom line
The takeaway, then, is that the Internet of Things has real value that’s much more than just connecting your TV to the internet. It’s also about taking a hard look at your business and determining what new information and capabilities the Internet of Things can provide, and if you can acquire new value and monetize it. The answer is in there.
