An IoT (Internet of Things) expert has broken down the disparate elements of the trade to explain all to generalists. A research report recently released by PwC claims shows that a third of all CEOs surveyed say that IoT will have a significant impact on business while a slightly lower percentage responded that it will completely transform their respective industries. The term was first invented at Proctor and Gamble back in 1999 and has been known by other terms such as Machine-to-Machine(M2M) and telemetry. The origins of telemetry go back to 1840 when a device was used to estimate the depth of snow at Mont Blanc. Such an IoT device must contain four major elements which are- a sensor, computing ability, connectivity anda user interface. The value proposition is almost constantly expanding, with right now digital marketing through customer engagement being one such. Its various innovations ultimately enable higher productivity by lowering down the costs and optimizing the operations. A greater sense of trust may also be built in with customers. Any IoT solution must contain a data source, a connectivity layer, a platform to perform business analytics and one to perform interactions. IoT that is scaled for mass operations is termed as the industrial internet of things. Artificial Intelligence (AI) is increasingly being adopted by the things on IoT. The major investors to IoT are industry players from automotive, telecom, tech, media and public-sector industries. PwC is an example of a major company already performing various tasks using IoT.

Source:http://usblogs.pwc.com/emerging-technology/qa-the-internet-of-things-iot/

Uploaded Date:06 February 2018