The Internet Of Things - The Internet World

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Welcome to internet world.

Internet of things (IoT):

The "Internet of things" (IoT) is becoming an increasingly growing topic both in the working and outside area. It's a concept that not only has the potential influence how we live but also how we work.
But what exactly is the meaning of "Internet of things" and what impact will it going to have on us, if any? There are a lot of convolution around the "Internet of things" but I want to stick to the basics.
Lots of technical and policy-related conversations are being had but many people are still just trying to grasp the foundation of what the heck these conversations are about.

First let us know about few important things:

Brodband internet is widely avialable, and the cost for internet is decreasing, many devices are being created with wi-fi capabilities. Technology cos is down and last but not the least,
smartphones are ruling the world, resulting in creating the perfect platform for IOT.

So What Is The Internet Of Things?

IOT is a simple concept of connecting with ON/OFF switch to the internet. This includes everything from cellphones, coffee makers, washing machines, headphones, lamps, wearable devices and almost anything else you can think of.
This also applies to components of machines, for example a jet engine of an airplane or the drill. If there is ON/OFF switch, then it may be part of IOT. The analyst firm Gartner says that by 2020 there will be over 26 billion connected devices.

That's a lot of connections (some even estimate this number to be much higher, over 100 billion). The IoT is a giant network of connected "things" (which also includes people). The relationship will be between people-people, people-things, and things-things.

How does this impact on us?

The new rule for the future is going to be, "Anything that can be connected, will be connected." But why on earth would we want so many connected devices talking to each other? Say for example,

On a large scale we can apply to things like development of a cities "smart cities" which increases efficiency for things such as energy use; this helps in understanding and improving how we utilize and live. as shown below.

The reality is that the IoT has virtually endless occasion and connections to take place, many of which we can't even think of or fully understand the impact of today.
IOT certainly gives lots of opportunities and also many challenges. One of the biggest challenge is securaty. When billions of devices are being connected together, what people can do to make sure that their information stays secure?
What if someone hack and have access to our network? The IoT also opens up companies all over the world to more security threats. Now again comes the issue of privacy and data sharing.
Another issue that many companies specifically are going to be faced with is around the massive amounts of data that all of these devices are going to produce.
Companies are figuring out a way to store, track, analyze and make sense of the vast amounts of data that will be generated.

So what now?

Many experts are talking about IOT (and have been for several years) as how this will impact our lives. We also trying to understand what are the many opportunities and challenges are going to be as more and more devices start to join the IoT.
For now the best thing that we can do is educate ourselves about what the IoT is and the potential impacts that can be seen on how we work and live.