What exactly is the Internet of Things?
IoT is about finding new ways to benefit from technology connecting the world of things around us. As we become more and more mobile, network connections with our smart objects are more advantageous than ever before.
The Internet of Things (IoT) is an emerging technology where machines are embedded with sensors that allow them to exchange data with each other, with little to no human involvement. Basically, it means all sorts of everyday items are connected to the internet which could potentially transform the way we live.
One of the earliest examples of this concept goes back to the early 1970s when the first ATMs went online.
Big businesses are already investing billions into this concept. In 2008 there were officially more devices connected to the internet than there were human beings, and by 2020 that number is expected to go up to 50 billion, according to Cisco. Tech companies see a promising future in the Internet of Things claiming that it will make businesses more efficient. In a recent report, GE predicted that the IoT will add as much as $50 trillion to the global GDP in the next 20 years. And according to projections by Business Insider, these products will outperform the tablet, PC and phone market combined. Read more…
