The Internet of Things (IoT)
Smart devices.
What is IoT?
When ordinary devices are connected to the internet, and can communicate with each other and be controlled in real-time.
What devices are considered part of IoT?
IoT typically refers to devices that are not expected to have an internet connection, for example: toasters, streetlights or thermostats.
How large is the IoT industry?
5.8b devices in 2020.
IoT spending by industry in 2020?
- Utilities (smart meters, building lighting systems) — $60B.
- Transportation (autonomous cars) — $70B.
- Consumer (security systems, smart homes, healthcare monitors)— $100B.
IoT consumer benefits?
- Smarter virtual assistants make it easier to stream music, set timers, and get information.
- Safer home security systems.
- Remote controlled electricity and thermostats.
- Insight into electricity usage to help cut costs.
IoT enterprise benefits?
- More data on the products and internal systems to make strategic changes.
- Identify and repair faltering manufacturing components.
- Streamline supply chains.
IoT and smart cities?
AT&T is launching a service to monitor infrastructure such as bridges, roadways, and railways with LTE-enabled sensors to identify and report cracks, potholes and malfunctions.
IoT risks?
Consumer — IoT devices collect sensitive data, but have poor security and encryption features, making them prime targets for hackers. For example, hackers can get into smartwatches and track the user’s location, eavesdrop on conversations, and communicate with the user.
Enterprise — Companies should ensure networks are secure to evade industrial espionage.
Government — Adding infrastructure like dams, bridges, and railroads to IoT can make a city vulnerable to an attack.
So what?
- Password protect devices.
- Report breaches.
- Be aware that companies make money from selling an IoT device as well as the data it collects.
