The Internet of Things Made Simple
Imagine a smart city block with energy efficient street lamps that only turn on when individuals are nearby. Or a physical retail experience that remembers your online shopping preferences and displays exactly what you need the moment you walk in the store. Or even a fleet of drone couriers granting communities fast and convenient delivery.
All these innovations and more are being realized today with the Internet of Things (IoT). IoT has created a growing fabric connecting our physical and digital worlds and opened doors to improved efficiency, transparency, and quality of life across various industries and everyday applications.
This learning module will explore the scope of IoT as well as introduce a high level understanding of how it works.
What is the Internet of Things?
The Internet of Things (IoT) refers to networks of interrelated and interconnected “things” that wirelessly collect, communicate, and process data without human intervention.
How will the Internet of Things Drive Tomorrow’s Innovation?
Today, there are over 30 billion connected devices worldwide. That number is expected to increase to 75 billion by 2025. Compare that to the 7.5 billion individuals who call planet earth home and we begin to understand the undeniable role IoT will play in the near future.
The convergence of artificial intelligence/machine learning, connectivity infrastructure, microprocessors, and the cloud have enabled IoT to continually evolve and grow into industries, infrastructure, and consumer applications.
While the opportunities for innovation are endless, the success of IoT is predicated on teamwork. IoT represents a broad collection of previously siloed technologies that have now come together. For IoT innovators, how well we balance systems thinking collaboration, interoperability strategies, and emerging technology will determine tomorrow’s innovation.
What some examples of the Internet of Things in action?
Infrastructure: Smart cities lead the way in piloting IoT infrastructure. IoT connected streetlights, smart grids, and internet nodes have made urban areas safer, more sustainable, and more connected — significantly improving the quality of life of residents.
Consumer: Today’s consumers prioritize fulfilment speed, inventory accuracy, and experiential shopping. IoT empowers retailers to bridge the gap between online and offline channels as well as better understand the preferences of their customers.
Industrial: Industry is one of the largest players in IoT. IoT enables smart maintenance of sensored factory machines, performance data analysis of manufacturing processes, and real-time geolocation tracking of logistics among other advancements and operational efficiency.
How does the Internet of Things work?
In IoT, the whole is greater than the sum of its parts. But that doesn’t mean understanding how each of the individual parts work has to be difficult. Below are the five key components of IoT to get you started.
How can I leverage IoT?
At Strategy of Things, we approach IoT opportunities with our combination of research, proven strategies, and hands-on implementation. Our passionate innovation advisors have over 75+ combined years of expertise, ensuring that you and your IoT application receive a blueprint for success.
Contact us today for a free consultation of your needs and how we can help.