What's the Cost of Ignoring the Internet of Things? A $11 Trillion Impact

Ignoring the Internet of Things: $11 Trillion Impact
Amit Founder & COO cisin.com
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We can turn the lights on in our homes from a remote office. Our refrigerator has sensors and cameras that allow us to monitor what's on the shelves quickly and when it is about to expire.

The thermostat adjusts the temperature to lukewarm or brisk when we return home, depending on our preferences.

These are not science fiction examples. These are just a handful of the many frameworks that make up the Internet of Things (IoT), which is being deployed today.

The IoT revolutionized how we communicate, interact, and do our daily work. The IoT ecosystem of devices makes our world more innovative, efficient, and better for everything from homes to maintenance to cities.


What is the Internet of Things?

What is the Internet of Things?

 

All physical things are called IoT (the Internet of Things). The internet of things (IoT) encompasses all physical objects, i.e., "things," that can connect to the internet or other devices.

As the term IoT becomes more common, it is being used to describe objects communicating with one another. This allows us to be more efficient in our actions.

IoT devices are more specifically characterized by their ability to gather data from their environment, share it with other electronic devices, and ultimately help us, end-users, gain information, solve a problem, or complete a task.

Imagine going to the bathroom in a hotel and watching the light turn on itself. Have you ever wondered how this happened? A motion detection sensor in the area detects movement and then connects to the light to turn it on.

This is just one example of IoT solutions.

The technology can create more enormous ecosystems like smart cities and smart homes. You can use IoT solutions daily to read emails, control your security system, and measure your steps with a smartwatch.


The History of the Internet of Things (IoT)

The History of the Internet of Things (IoT)

 

The term Internet of Things was first used in 1999. The idea is still around and was first introduced in 1999 by a Coca-Cola machine at Carnegie Mellon University.

Students from the university devised a system that would allow campus Coca-Cola vending machines to report their contents.

This was to avoid checking if they were out of Coca-Cola. They created an inventory report and made machines tell them whether new drinks were cold.

A second group of the University of Cambridge students used a webcam to monitor the coffee in their computer labs.

We observed that certain shades of brown lipstick were always sold out. However, many of the employees in the supply chain would report that the color was still available in the warehouse.

Ashton presented an "Internet of Things" presentation. He suggested that every product be equipped with a radio frequency identification tag (RFID) to track and identify specific items throughout the supply chain.

From the late 2000s through the early 2010s, companies worldwide were becoming excited about the Internet of Things.

This is similar to their excitement about AI and machine learning today, the International Business Machine (IBM) corporation announced that the IoT had "begun" when more objects and machines were connected to the internet than people.

Although the Internet of Things (IoT) was originally only relevant to industrial development and business, its use is sometimes called machine-to-machine or M2M.

However, it has become a focus on smart devices in our homes and workplaces, which benefits nearly everyone. There are currently 35 billion IoT devices in use worldwide. By 2021, that number could rise to 46 billion.


IoT Examples

IoT Examples

 

We divide IoT devices into four categories based on their use: industrial, consumer, infrastructure, and organizational.

Consumer IoT is a collection of dozens of devices, including smartphones, wearable tech, and increasingly more household appliances, that are connected to the internet and continuously gather and distribute information.

IoT is most common in organizational settings. It is used mainly for medical and facility management. IoT devices can remotely monitor and create emergency notification systems for buildings, people, and assets.

Innovative cleaning and smart occupancy are also encouraged by the COVID-19 pandemic. This allows workplaces of any type to return to their offices with technology.

Industrial IoT (IIoT) brings together devices, clouds, and analytics to improve the execution and productivity of industrial processes.

Industrial IoT (IIoT), more specifically, enables solutions like equipment monitoring, predictive maintenance, condition monitoring, and error detection, as well as other industrial IoT capabilities.

The infrastructure IoT appliances, which monitor and control the operations of rural and urban infrastructures such as bridges, tracks, and wind farms, can be last but not least.

These technologies benefit the construction industry because they allow for cost optimization, time optimization, and a better quality workday. They also reduce paper use and increase productivity.


How does the Internet of Things Ecosystem work?

How does the Internet of Things Ecosystem work?

 

IoT works over an infinite network and requires many components to create a cohesive system. These components can be divided into input, analytics, and output.

You need a device that can gather input from the real world. Sensors are used to collect real-time data from the surrounding environment.

Because they can detect even the most minor changes in their environment, they're often called "detectors." Smart ACs and thermostats, for example, use a detector to detect changes in temperature or humidity in the environment and adjust accordingly.

These sensors/detectors are often combined to make a device that senses more: Many phones have multiple sensors, such as GPS, camera, and fingerprint detection.

This allows us to perform a few tasks.

The sensor must be able to connect to other devices and then turn the data into action. This is called connectivity.

The internet is powered by connectivity. Bluetooth, Wi-Fi, and DDS are some of the most widely used IoT wireless protocols. The network choice depends on many factors, such as data transfer speed, range, power consumption, and overall network efficiency.

Once data has been collected and has traveled to the cloud via a communication medium through the internet, it must be processed.

This is the second part of the IoT ecosystem. It contains all the "smart stuff," i.e, where all of the "smart stuff," i.e, context and analytics, takes place. Analytic tools are used to analyze a situation and decide based on that information.

This could be as simple as analyzing the temperature in a room to determine if it falls within the desired range or more complex such as analyzing a car close to crashing.

The end-user device, or user interface, is the last element in the IoT system. The visible application or device that a user uses for accessing, controlling, and setting preferences is called the end-user device.

In today's IoT environment, a user-friendly and appealing design is crucial. To provide a great customer experience, companies are constantly improving their use of touch interfaces or colors, font, and voice.


Sensor Technology & IoT

Sensor Technology & IoT

 

To allow objects to be connected and IoT to take place, there must be a device to gather the data that will be transmitted (the input).

Sensors are used for many applications.

The specific task of each device will determine what kind of sensors it collects. Sensors are instruments that detect and respond in various ways to environmental changes.

These can come from light, temperature, and pressure.

IoT sensors can gather various data and are used in many fields. They have been a crucial part of many businesses operations.

These sensors have one of the most significant benefits: they can trigger analytic functions which alert you to potential problems. This allows businesses to prevent costly damage and perform predictive maintenance.

Let's look at the case studies of Cyber Infrastructure Inc. wireless sensors to show you how IoT sensors can be used to enhance your business.

Our small and clever sensors can remotely monitor your buildings and assets.


Sensor-Based IoT Benefits

Sensor-Based IoT Benefits

 


IoT Benefits For Hospitals & Restaurants

IoT is a great fit for hospital and healthcare services. For starters, IoT improves patient comfort. Smart thermostats, smart beds, and customizable lighting controls can make it easier for patients to have a better experience and reduce stress.

IoT also allows remote health and emergency notification system monitoring via wearable technology. This includes electronic wristbands and advanced hearing aids, as well as wearable heart monitors and wearables.

These devices enable physicians to monitor patients more precisely and provide better-informed treatment options.

The safety of patients and staff is another critical benefit of the internet of things based sensors in hospitals.

Temperature sensors and cold storage ensure food, blood, or medications are safe. In contrast, water sensors prevent potential hazards and leakages, occupancy sensors monitor waiting areas for capacity control, and disinfection systems keep areas clean.

For example, the UK's National Health Service has improved patient safety by automating daily hospital tasks such as medicine temperature checks, fire door monitoring, and patient temperatures.

The IoT has significantly impacted the food industry, particularly restaurants and chain restaurants.

Food safety and monitoring systems are the most important benefits. Restaurants can monitor their refrigeration remotely 24 hours a day to ensure that temperature changes are not ignored.

This reduces the chance of food spoilage and food waste. IoT apps can remotely monitor equipment and troubleshoot problems to prevent failure and reduce the cost of repairs.

These apps can even remind restaurant managers to schedule maintenance.


Iot Benefits For Buildings And Workplaces

More than half of all workers fear returning to work because of the pandemic. Real estate and facilities management companies have begun to adopt IoT sensor technology and intelligent infrastructure to reduce Covid-related risks and concerns.

For example, sanitary staff could place a proximity sensor in the bathroom stalls to get information about how frequently workers use the toilet.

This allows staff to clean when needed, rather than relying on manual cleaning.

This helps to validate cleaning schedules and optimize the office's resources. It also increases employee health & well-being.

By sending reminder alerts, proximity sensors can help to ensure social distancing and keep workers away from each other when the room's occupancy increases.


Iot Benefits In Industrial Settings

Smart sensors improve manufacturing and industrial processes in the Industrial Internet of Things (IIOT).

Predictive maintenance is one of the most popular benefits of IoT devices. Businesses can plan their maintenance activities using predictive maintenance based on accurate predictions of an asset's life expectancy.

This improves asset utilization and visibility, allowing for optimal maintenance activity planning.

Predictive maintenance also has essential benefits in the management of industrial facilities and smart substations.

Sensors monitor temperature, humidity, vibrations, and other factors to detect poor operating conditions and alert management to take corrective action.

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IoT and Data Security & Privacy

IoT and Data Security & Privacy

 

IoT can pose several security and privacy problems due to all the devices continuously gathering everything we do.

Cybercrime and data theft are the main problems of today. Cybercriminals are always looking for ways to hack passwords and emails and impersonate employees with malware.

The pandemic has made it impossible for businesses and individuals to work remotely, so there is a greater focus on this issue.

IoT's security history does not prevent these issues. Many IoT devices don't consider basic security protocols such as encryption, blocking tags, and authentication.

They can operate for a long time without monitoring or updating and use low-cost, insecure systems susceptible to cybersecurity risks.

Despite this, responsible manufacturers go above and beyond to ensure that embedded software or firmware is fully protected.

Cyber Infrastructure Inc. is hyper-aware of privacy and data security concerns. We place security first in all aspects of the design and development of our sensing solution.

This covers chip design, sensor design, radio protocol design, cloud services, and APIs. Each layer of Cyber Infrastructure Inc.'s sensing solution is protected, from individual sensors to applications processing data.


What can you do to Safeguard your Data and Privacy?

Research is the most crucial step. Find out about your IoT supplier. What compliance do they have with federal regulations and protocols? What privacy standards do they have? Are they using encryption tools?

As horrible as it is, reading and understanding the terms and conditions of services, devices, mobile apps, and other information every time you use them is essential.

To increase your security after you have purchased or installed a product to protect yourself, disable features that allow multiple devices to share data with third parties, delete all data history, and install updates promptly. Use two-factor authentication whenever possible, and create complex, secure passwords.


Is IoT Secure?

Is IoT Secure?

 

The IoT isn't inherently secure. This is a frustrating truth. It is a mix of vendors, protocols, and vendors. Any enterprise that wants to venture into the connected world of the IoT must take strong precautions and implement strong safeguards.

Security challenges increase as IoT devices become increasingly common in organizations, sometimes reaching millions. adafruit

Ransomware attacks and data breaches have become epidemics. The problem got worse during the pandemic. Potential gaps and breakdowns increase as more connected devices become available.

Even worse, traditional security tools cannot always protect IoT devices or data.

Security is also challenging due to how IoT devices and operating systems are constructed. Equipment vendors often use outdated BIOS and OS standards that differ from today's environment.

Many don't offer regular updates or patches to fix security bugs.

Already criminals have seized Internet-connected baby monitors, retaken smart refrigerators and television sets, gained access to cars and medical devices, and even confiscated intelligent refrigerators.

IoT security must cover three main areas.


Authentication

Protocols such as X.509 are increasingly used to authenticate devices, gateways, and users. The X.509 cryptographic standards use self-signed and authority-signed public key certificates to validate identities across a network.


Encryption

Encryption usually includes the Wireless Protection Access 2 standard of network encryption (WPA2).


Port Protection

Port protection techniques include disabling ports not required for IoT devices or ensuring they are protected with a firewall.

Several vendors specialize in IoT security.

They offer more integrated and streamlined security solutions for this connected business world.


Privacy and Ethical Concerns in IoT

Privacy and Ethical Concerns in IoT

 

Privacy and ethics are also being given more attention. The risks and challenges are increasing as data becomes more interconnected.

In 2018, the General Data Protection Regulation (GDPR) of the European Union was implemented. It imposes strict regulations and penalties on organizations that handle data related to European citizens.

California's Consumer Privacy Act (CCPA) requires IoT device manufacturers to use "reasonable" security measures.

It established standards for California companies and penalties for data breaches and violations. A significant violation could lead to fines of up to US $2,500 per violation and action by the California attorney general.

However, laws and regulations are not the only things that concern people. Privacy experts and a growing portion of the public are becoming more vocal about how IoT data, such as healthcare and facial recognition, is collected and used.

Businesses that rely on IoT must pay attention to several key areas and tools.

  1. Data personalization
  2. Data de-identification and re-identification
  3. Data persistence
  4. How IoT data are stored and retained

IoT: A Connected World is Coming to Life

IoT: A Connected World is Coming to Life

 

Most organizations must act quickly for the IoT's maturity. Businesses of all sizes and shapes can benefit from the IoT or IIoT.

Connected technologies are transforming finance, manufacturing, construction, energy, transport, healthcare, and agriculture industries.

Consulting estimates that by 2023 the number of IoT-connected devices worldwide will reach 43 billion, almost three times more than in 2018.

Consulting also reports that IoT will play a more significant role in determining which companies are successful and how they generate new revenue streams.

Sensor technology and other IoT components have become cheaper and more powerful. Combining these components with advanced 5G, cloud, and edge technologies increase the IoT's power, increasing the organizations' value.

Add augmented reality, robots, and other forms of AI to create new and exciting business models.

There are many opportunities beyond the four walls of an enterprise. According to the World Economic, 84% of IoT deployments currently in place address or have the potential to improve the UN's Sustainable Development Goals.

The IoT will be crucial in helping organizations to develop and promote sustainability programs and achieve aggressive carbon reduction targets.

The IoT is a critical component of modernization and competitive advantage for businesses as they seek to improve their relationships with customers and business partners.

The IoT is about dollars and good business sense. The IoT is a tool that allows enterprises to innovate and transform on a scale not possible before. These companies realize the full potential of digital transformation.

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Wrapping up

This concludes our IoT guide. As more devices are connected, homes and workplaces will be overrun by intelligent products.

This assumes that we are willing to make some privacy and security compromises. Some will be excited about the future world of advanced technology. Some will be nostalgic for the simpler days of a table.