The 10 Laws of Internet of Things busted!

By Bhagyesh

| Updated: Monday, March 7, 2016, 14:57 [IST]

You won't believe it but the first internet-connected toaster was unveiled at a conference in 1989. So the idea of 'Internet of Things' also known as IoT isn't very new.

IoT is basically nothing but a connection of devices through the internet, so that they can interact with us and as well as each other.

The 10 Laws of Internet of Things busted!

For example what if your fridge could tell you it was out of milk, texting you if its internal cameras saw there was none left, or that the carton was expired.

Internet of things can be expanded to connect traffic signals that monitor utility use, or smart bins that signal when they need to be emptied and for industrial usage.

Is it safe? Can the internet of things be secured?

Well as they say with great power come great responsibilities, same is the thing with IoT. Though it has numerous benefits but it's equally vulnerable too. Like for example if a home or even an entire city is running on such smart devices then there are chances of hackers making misuse of these facilities. Thus giving rise to cyber crime and not much is being done currently in order to prevent it from happening.

How will the internet of things affect business and work?

IoT is useful in organising tools, machines and people, and tracking where they are. Farmers can also benefit from it by using connected sensors to monitor both crops and cattle, so that they can boost production, efficiency and tracking the health of their herds.

What does the internet of things mean for healthcare?

IoT has a great deal of benefits for the health sector and the implementation of this technology has already begun. Intel has made a smart band that tracks how much patients with Parkinson's shake. While Sonamba monitors daily activities of senior citizens or ill people. And there is AliveCore for the people with heart disease to detect abnormal heart rhythms.

More data means more accuracy and more accuracy in health care means more ability to prevent, analyze and cure diseases.

Let's look at some of the numbers & facts about 'Internet Of Things':

1. ATMs are considered some of the first IoT objects that went online in 1974.

2. Back in 2008, there were already more objects connected to the Internet than people. It was estimated that by the end of 2015 we will have 4.9 billion connected things. And some even predict that by 2020, the number of Internet-connected things will reach or even exceed 50 billion.

3. In 2015, over 1.4 billion smart phones will be shipped and by 2020 we will have a staggering 6.1 billion smartphone users.

4. The IoT will connect many of the devices we have in our homes, from smart thermostats to smart fridges. And that's why Google has bought smart thermostat maker, Nest Labs, for $3.2 billion, and Samsung purchased connected home company SmartThings for $200 million.

Source 1

5. By 2020, a quarter of a billion vehicles will be connected to the Internet, giving us completely new possibilities for in-vehicle services and automated driving. Google's self-driving cars currently average about 10,000 autonomous miles per week.

6. The global market for wearable devices has grown 223% in 2015, with Fitbit shipping 4.4 million devices and Apple selling 3.6 million Apple Watches.

Source 2

7. Even the clothing sector is not left behind. Estimates predict that 10.2 million units of smart clothing will ship by 2020, compared to meagre 140K units in 2013.

8. Today, the market for Radio Frequency Identification (RFID) tags, used for transmitting data to identify and track objects, is worth $11.1 billion. This is predicted to rise to $21.9 billion in 2020.

9. Machine-to-machine (M2M) connections will grow from 5 billion at the beginning of this year to 27 billion by 2024, with China taking a 21% share and the U.S. 20%.

10. It is also said that having a connected kitchen could save the food and beverage industry as much as 15% annually.

All this sounds pretty exciting and right out of some Hollywood flick like Terminator - Rise of the Machines & stuff like that. Let's just hope that all these things have more advantages than disadvantages and are used for the betterment of the society.