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Internet of Things Trends that will drive business innovation

Internet of Things Trends

A few years ago the idea of ​​having smart devices at home seemed like something that could happen in the very distant future. Now, shortly after the term Internet of Things appeared, it has evolved in such a way that it is already available even in sneakers. 

Do we know what the Internet of things is and how far it can go?

Smart speakers were released last year in many homes with augmented reality and smart or wearable glasses are already well known. With them, it is much simpler and it makes more sense to take advantage of everything that these new technologies offer us. 

These are some examples of the applications that the Internet of things could have, capable of changing the ways of living. What will we see in the coming years? Keep reading and find out.

The term Internet of Things was first coined at the Massachusetts Institute of Technology (MIT). The idea it represents is well illustrated by its name, that all everyday things connect to the Internet. However, the concept we are trying to explain goes much further.

Today we have computers, smartphones, tablets, televisions, game consoles, cars and many more “things” that connect to the Internet. Well, although it may seem like a lot, it is nothing compared to 99% of things in the world, which are not yet connected to the Internet but could do so in the future. 

It is a revolution of everything we have seen so far regarding the relationships between objects and people, and even between the objects themselves. The digitalization of the physical world is approaching.

This trend will move large amounts of money and business in the coming years. Behind this revolution, we find interests of large operators, of the manufacturers of devices and access to the network (millions of sensors and objects with great capacity of connection), of the manufacturers of cars, sanitary sector, Logistics companies, security companies and even in politics.

How does IoT work?

The Internet of Things is based on hyperconnection, through which the Internet will cease to be a computer heritage and will be present in any object that we use (some that we do not even imagine). Each device that exists will be equipped with an Internet connection and, consequently, the ability to communicate with other objects. 

This communication will be carried out through various means such as WiFi, Bluetooth, LTE, 5G, etc. Each of these objects connected to the Internet will have a specific IP through which you can receive instructions, contact an external server and send the data you collect.

This trend also implies M2M (machine to machine) communication, according to which, more and more Internet connections will be made between machines and not between people. This will make it possible for millions of chips spread everywhere to communicate the data they record constantly.

Also Read: Energy Monitoring as an IoT Application

When will it arrive?

The Internet of things is already in our lives, there are currently more than 10 million devices, although Studies say that by 2020 our digital universe (data and stored information) will increase up to 44 times compared to 2009, according to data from the consultant Gartner.

It is the private sector where this trend is becoming more popular:

  • Industrial sector: Where we find machinery that is responsible for controlling manufacturing processes, temperature, production control, etc. All connected to the Internet.
  • Urban sector: Control of traffic lights, bridges, train tracks, etc. More and more cities use the Internet of Things with which they can monitor the operation of their structures as well as additional variations to new events.
  • Environmental sector: With the Internet of Things it is possible to access information from atmospheric or meteorological sensors.
  • Health sector: Clinics and hospitals increasingly rely on this trend that allows patients to be monitored without being invasive.

Technological trends of the Internet of Things

A study by the Gartner consultancy shows the technological trends of the Internet of Things that will drive digital business innovation from 2018 to 2023. Companies cannot miss these opportunities during the next decade.

Gartner’s vice president of research Nick Jones said in an interview that “The CIOs that dominate IOT’s innovative trends have the opportunity to lead digital innovation in their businesses.” Let’s see what trends this consulting company stands out.

Artificial intelligence

Gartner forecasts more than 25 billion “things” will be connected to IoT by 2021, producing a large volume of data. Artificial intelligence will be applied to a wide range of IoT information. Including videos, images, voice, network traffic activity, and sensor data. 

The technological landscape for AI is complex. Despite this complexity, it will be possible to achieve good results with Artificial Intelligence in a wide range of IoT situations. As a result, CIOs must create an organization with the tools and skills to exploit AI in its IoT strategy.

Also Read: How People Are Embracing IoT Devices in The Home

Legal and ethical IoT

As the IoT grows, so will the social, legal and ethical problems. These include data ownership and issues related to privacy, algorithmic bias and Data Protection. Jones says that “CIOs will have to educate themselves and their staff and consider group training as ethical advice to review corporate strategy”

Purchase and sale of IoT data

By 2023, the purchase and sale of IoT data will become an essential part of many IoT systems. CIOs should educate their organizations about the risks and opportunities related to the exchange of data to establish the IT policies required in this area and to advise other parts of the organization.

New wireless networking technologies for IoT

The IoT network involves balancing a set of competing requirements, such as the cost of the endpoint, energy consumption, bandwidth, latency, connection density, operating cost, service quality and range. No single network technology optimizes all this and new IoT network technologies will provide CIOs with additional options and flexibility. In particular, they should explore 5G, the next generation of satellites in low Earth orbit, and backscatter networks.

New IoT user experiences

The user experience of IoT (UX) covers a wide range of technologies and design techniques. It will be based on four factors: new sensors, algorithms, experience architectures, and social awareness. With an increasing number of interactions with things that do not have screens and keyboards, organizations’ UX designers must use new technologies and adopt new perspectives if they want to create a superior UX that reduces friction, user blockages and encourages use and retention.

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