Technology, many people have a love/hate relationship with it. Some people are eager to let technology into every aspect of their lives, especially if it helps with things like automation or advancement. Others are a little (or a lot) more reluctant to trust it.
The truth of the matter is, whether you like it or not, technology is here. In fact, it’s seemingly here to stay.
The “Internet of Things” (IoT) is becoming a topic of conversation everywhere you go – at work and home. For many of us, the term is perplexing in and of itself, and most don’t even know they are talking about it.
What Is the “Internet of Things”
What is this, “Internet of Things?” you ask? Well, Forbes.com breaks it down very nicely:
“[IoT] is the concept of basically connecting any device with an on and off switch to the Internet (and to each other).”
This definition is talking about everything you probably use on a daily basis such as smartphones, computers, coffee makers, washing machines, wearable fitness trackers, lamps, refrigerators and so much more.
It doesn’t stop there, though. IoT includes components of big machines, such a jet engine or a drill to an oil rig.
If there is a power switch, it’s connected to the IoT. This system only continues to grow, too. The analyst firm, Gartner states that by 2020, “there will be over 26 billion connected devices” to the IoT.
As you can imagine, businesses around the world are latching on to IoT (right now, about 73% of business are using IoT), and those numbers continue to grow. 95% of executives report they are planning to launch an IoT business within the next three years.
Businesses are using the Internet of Things to improve the quality of the products and services they offer, but it is more than just that. They use the data collected to help the decision-making process, lower operational costs, while creating new customer relationships, or improving existing relationships.
These business execs see the IoT as an innovative way to increase the probability of success – even though 60% of companies find the implementation of IoT projects to be more complicated than they had anticipated.
Benefits of Internet of Things
The Internet of Things gives businesses and marketers the chance to access smart data to predict the future behaviors of their customers by gathering data.
Businesses use automation to analyze the data for marketing intelligence to further increase the business’s successes. But other than IoT being used to make businesses more successful, it can be used on a global scale – namely regarding climate change.
IoT can allow all three levels of government (federal, state, and local) to monitor greenhouse emissions. These governments turn to the EPA (United States Environmental Protection Agency) for help, and with the EPA’s help, one city, New York City, aims to reduce overall greenhouse gas emissions by 80% by 2050.
It may sound like a huge endeavor, and it is. What’s interesting is that because of Interconnected Communication Technology like IoT, many experts believe that the IoT market will be worth almost $17 billion by 2020.
IoT can have a positive impact on climate change in specific ways, such as:
- IoT can use sensors to collect and transmit data from agricultural activities that’ll lead to the development of advanced methods that will fine tune agriculture practices which will reduce the usage of water, fertilizers, and pesticides.
- With the help of IoT enabled apps; drivers can find parking spots quicker and reduce the amount of time on the roads and stuck in traffic, all of which helps to reduce carbon dioxide emissions. Los Angeles has gone one step further and began utilizing IoT technology to synchronize traffic lights to allow traffic to flow smoother. That means no more traffic jams!
- Devices with IoT technology can be used to detect and report illegal logging and deforestation – both of which contribute to climate change and wildlife displacement problems.
- Devices equipped with IoT tech can be programmed, monitored, and controlled in a way that consumes minimal amounts of power because they only operate when the systems are necessary. Examples of these devices include thermostats, lighting, HVAC systems, and more.
Technology is becoming a facet of every part of life, and instead of resisting, it’s time to embrace it. Businesses and governments understand the growing need to utilize this tech for the greater good, whether it is the bottom line or helping to reduce carbon emissions. Whether you are on the side of technology or you are against it, there is no denying that technology is here to stay.