Internet of Things, or IoT, are devices with sensors, processing ability, software and other technologies that connect the internet to the physical world. These aren’t the servers, PCs, laptops, tablets, or phones that we usually associate with computer networks: they can range from everyday domestic objects to vast pieces of industrial equipment. IoT communicates data with other devices over the internet and other networks to help businesses remould and become more efficient. Since 1999, IoT has been embraced by organisations across a range of industries, from automotive to manufacturing, sustainability to healthcare, and transport and logistics to agriculture. In the UK, Ofcom expects the number of IoT-connected devices to reach 156 million in 2024 – up from 13 million in 2016; 70 billion things will connect to the internet in the future.
At its core, the principle of IoT systems is about providing deep insights and context with previously unavailable or inaccessible data. When this data is fed into advanced analytics systems, such as machine learning algorithms or artificial intelligence invariably using cloud-based capabilities, it builds even greater predictive capabilities. Yet there remains a lack of understanding among many organisations and their employees around the opportunities and benefits that IoT affords.
Businesses must educate themselves on IoT to understand the business challenges and pain points that exist today and how IoT can play a pivotal role in identifying and addressing these issues.
Click here to learn more about IoT and how you can use them to build a business that’s fit for future success.