
These days everything is connected to the Internet from our phone and computers to our lights and pretty much everything that we use in our everyday life. The term “Internet of Things” has become an increasingly growing topic of conversation both in the workplace and outside of it.
What exactly is the “Internet of things” and what impact is it going to have on us, if any?
Simply put, the Internet of things (IoT) is the concept of connecting any device with an on and off switch to the Internet (and/or to each other). This includes everything from mobile phones, coffee makers, washing machines, fridge, headphones, lamps, wearable devices and pretty much everything you can think of. This also applies to components of machines, for example, a jet engine of an aeroplane or the drill of an oil rig.

If it has an on and off switch then chances are it can be a part of the IoT. According to Gartner, there are more than 12 billion devices that can currently connect to the Internet, and researchers at IDC estimate that by 2020 there will be 26 times more connected devices (some even estimate this number to be much higher, over 100 billion). The IoT is a giant network of connected “things” (which also includes people). The relationship will be between people-people, people-things, and things-things. Gartner also says that the consumer applications will drive the number of connected things, while enterprise will account for most of the revenue. IoT adoption is growing, with manufacturing and utilities estimated to have the largest installed base of Things by 2020. The McKinsey Global Institute predicts that the innovation enabled by the internet of things is expected to drive as much as an additional $6.2 trillion in value to the global economy by 2025.


Back in 1999, when the term IoT was created by MIT researcher Kevin Ashton back in 1999, the technology didn’t exist to make the Internet of Things a reality outside a very controlled environment, such as factory warehouse. But now the IoT can be applied to material objects to the internet- ranging from shoes to umbrellas or things like transportation networks: “smart cities” which can help us reduce waste and improve efficiency for things such as energy use; this helping us understand and improve how we work and live. Take a look at the visual below to see what something like that can look like this..


The reality is that the IoT allows for virtually endless opportunities and connections to take place, many of which we can’t even think of or fully understand the impact of today and it opens the door to a lot of opportunities but also to many challenges at the same time. For instance, security is a big issue. With billions of devices being connected together, people will face trouble to make sure that their information stays secure and it will be easier for people to maybe get access to your entire network just by sampling hacking into your washing machine. And the issue of privacy and data sharing is a whole other story.

There’s no question that security is a big issue but, it’s not that different than handling your online banking or giving your credit card to any online shopping platform. You need to have the necessary security protocols in place. Putting IoT to work for your business offers an array of opportunities as well as a heightened need to protect what you’ve put in place. But you need to think about how you can leverage those benefits today because its connectivity is already here and growing quickly.
REFERENCES
- Morgan, J. (2017, April 20). A Simple Explanation Of ‘The Internet Of Things’. Retrieved November 25, 2019, from https://www.forbes.com/sites/jacobmorgan/2014/05/13/simple-explanation-internet-things-that-anyone-can-understand/#4b8b0f711d09.
- Stroud, F. (n.d.). IoT – Internet of Things. Retrieved November 25, 2019, from https://www.webopedia.com/TERM/I/internet_of_things.html.
- The internet of Things (IOT): The Future of Interconnectivity: Lenovo HK. (2019, September 25). Retrieved November 25, 2019, from https://www.lenovo.com/hk/en/solutions/smb/internet-things-iot-future-interconnectivity.























































