IoT or the internet of things is a network of hardware products and software applications that interact with each other. IoT products range from devices like smart-watches to cars. The common link that connects them is the presence of smart sensors and their ability to connect through a wireless network and the internet. Also, a significant portion of the data used for training AI platforms and machine learning algorithms comes from these devices with the user’s consent. Shared below are the details about major ways in which IoT is automating the world.
Solving Big And Small Problems
The multitude of environmental data collected by IoT solutions is playing a significant role in predicting the consequences of climate change. Likewise, it is used for monitoring and tracking endangered species which was difficult in the past. Now, when we come to our daily life, the trackers embedded in our phones and other smart devices helps us to find them when misplaced. Moreover, wearable IoT devices made medical diagnosis more accurate resulting in increased recovery rates.
Bigger Market For Smart Products
The number of people using smart devices like wristwatches, speakers, and tablets, etc., is increasing every day. Thus the market for IoT devices is expanding rapidly, and the amount of data recorded by these devices is on a rise. This data is useful for purposes like automation, developing AI and machine learning platforms, research, and many more. This is a major source of revenue if utilized properly, and companies are specializing as IoT service providers. Some of the biggest tech organizations in the world like Google and Apple have developed and launched platforms to tap into the potential of IoT products. Furthermore, the segment of IoT devices that have the highest growth potential is healthcare.
Developing Smart Cities
The integration of IoT solutions into public infrastructure helps to transform cities into smart cities. For example, the existing optic fiber network can be used to install environmental sensors to monitor energy consumption. The information thus collected is utilized for installing automated streetlamps that adjust brightness depending on the presence of pedestrians. Apart from this, the network of sensors can be used for measuring noise pollution, air quality, the density of people in a locality, traffic, and give free public internet. This directly impacts the revenue of the city by reducing energy costs, and more people move in because of the improved quality of life.
These are the three major ways in which automation by IoT solutions improve our daily life.