IoT: A Game Changer in Technology Industry
Across the globe almost each and every domain have started embracing Internet of Things (IoT). Weather its manufacturing, industrial automation, healthcare or artificial intelligence domain the impact of IOT is pretty evident. In the recent past we have seen some really exciting developments in the field of IOT especially how users have started interacting with machines.
According to a research the key reason why businesses are adopting IOT solutions are primarily because to increase productivity of their workforce, reliability on their operation, and increase quality of their product or services.
In the coming years IoT will create a significant impact of several industries, through this blog I am trying to briefly explain few of them.
Artificial Intelligence (AI)
As we all know AI, and machine learning, is a process of building a scientific model. We analyze certain set of data and derive meaningful insights or knowledge from it. In the coming years we will a lot of application of AI in IoT space for example GPS based tracking, robotics and security. Major players like Google, Microsoft, and Facebook are using AI techniques in various research projects.
Many of us believe, the biggest use of IoT technology is with the end consumer products, however in my opinion, in the next couple of years the biggest drive for IoT technology will be from manufacturing and industrial automation domain. As per a survey in 2016, 38% of the organizations have already adopted IoT, almost 57% are planning to go for it in this year, and 69% of them are planning to increase their budget in this space. 2017 and years to come, looks bullish for IoT; especially in this domain.
Security and Privacy
The basic principle of IoT is that number of devices will be connected to internet and that to AI driven internet in future. The rate at which these devices will increase and the amount of data and information these devices will share brings the risk of device, data and information security in future. It will remain the point of concern for organization opting for IoT platforms. They will be aware of the security concerns and will be ready to invest in solutions offering security measures for these IoT devices.
Predictive data and Data Analytics
Quite often Big data and IoT are considered in isolation from one another. However I see a big overlap. IoT depends on data and without any action taken on the data it is useless. As IoT will gain traction, it will generate large amount of data. These data will be from different sources and of different type. These data points will be very valuable and important for the IoT companies. This can prove to be an opportunity for revenue generation. Without Big Data analytics we will not be able to capture the information embedded in those data points. So both these technologies will complement each other in near future.
There is a lot to talk and discuss about IoT. And I see a definite future for this technology in our day today life. Overall I am excited to see that IoT is going to revolutionize our world and make us more efficient and productive.
[Tweet “IoT: A Game Changer in Technology Industry ~ via @CalsoftInc”]