
Summary Bullets:
- IoT expands the meaning and value of the Internet as more physical objects (i.e., sensors, actuators, devices, modules and new age systems) will be connected to the internet and accessible through Internet protocols or web services. It will enable humans/software programs to analyze data, evaluate patterns and take predictive or preventive actions based on the derived intelligence.
- In addition to consumers, utilities, energy, automotive, manufacturing, healthcare, transportation and retail were early adopters of M2M and may start piloting IoT applications as supply side economics make sense. The IoT ecosystem is getting ready for enterprises to innovate business models and improve operational efficiency.
Internet of Things (IoT) and Big Data were among the key ICT themes that dominated the majority of panel discussions and presentations at CommunicAsia 2014. Both buzzwords, in addition to cloud and social, are often the current topic of discussions in IT circles. I chaired a panel discussion on IoT and will be using that session in this blog in an attempt to demystify IoT.
IoT is a natural evolution of Internet and machine to machine (M2M), which find its roots in industrial automation. It not only further integrates the physical world with the digital world, but also enables machines to learn from the events and become smarter by gaining predictive and cognitive capabilities. Machine learning will play important role in gaining these capabilities through data mining, statistical modeling and artificial intelligence. The IoT ecosystem will enable companies and consumers to create and enjoy new services that are founded on web-based business models. Continue reading “Demystifying IoT – What It Means to You”