Excerpts: IoT (Internet of Things)

Lets get into it, its going to be a long one...

In a speech, my boss made a mention of IoT and I remembered reading this way back from one of my previous colleagues website - Wilber - . Most of this will just be excerpts from his site and others. After all, it is the internet.

So what is this concept of IoT?

It is simply the connection of different devices i.e vehicles, appliances and items incorporated with electronics,software,sensors,actuators and connectivity which enables these objects to connect and exchange data or in simpler terms communicate. You simply make machinery work for you! 

You risk being very very LAZY though....

Wilber in his article makes a mention of below on the concept;

It’s about controlling and regulating your life more proficiently and efficiently without actually interacting with the concerned devices physically.

My refrigerator can actually do that! In fact, my in-house entertainment system will automatically start playing my favorite ambiance music at 6:00 AM in the morning while the coffee brewer prepares my cappuccino and the television switches to the morning warm-up exercises. All I had to do was to apply my preferences, via my computer, to my house’s central system’s web profile. All these 6:00 AM activities are actually commands issued to my ‘house’ by the system’s web profile.

Lets face it, in the age that we live in right now, everybody is thinking about what is the next big thing, how can we make what we currently have even BETTER. How can we outperform ourselves.

You have no otherwise but to keep up. 

The best thing about IoT personally is - it allows people with severe difficulties and disabilities to remotely interact and get along with their daily lives with minimal hiccups. It allows equipment, placed in harsh and dangerous environments, to be monitored and operated remotely. It allows medical implants to share their hosts’ diagnostics with the concerned doctors without any physical checkups - 

Fast forward to 2018, IoT is an even bigger topic,

Before we get on with the negatives of IoT, see excerpts from twitter on companies who have embraced this phenomena;

  • Rolls-Royce uses #IoT to increase the fuel efficiency of jet engines, optimize flight paths, and improve maintenance.
  • Royal Dutch Shell realized a $1M return on a $87K investment in a remote IoT-based asset monitoring and maintenance solution that tracks activity across 80 oil fields in West Africa. Combined daily oil production across the oil fields is nearly 600,000 barrels.
  • Harley Davidson reduced its build-to-order cycle by a factor of 36 by shifting production to an #IoT-enabled plant.

On the downside;

One of the biggest disadvantages that IoT faced was the concern of security as is everything on the internet after all and a technology research company Gartner has reported that spending on IoT security from enterprises is set to be at $1.5 billion this year.

See below projected expenditure stats;

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That figure represents a 28% increase from the $1.2 billion spent on IoT security last year and reflects growing enterprise concern over vulnerabilities in IoT and connected networks. Gartner says by 2021, such concerns will push IoT security spending to over $3.1 billion.

“Exposure to IoT-based threats may come from unauthorized devices that connect to enterprise systems and that the enterprise does not control,” says Ruggero Contu, research director at Gartner. In that sense, IoT networks and devices present the same problem to enterprises that any shadow IT does, he says.

In conclusion, some people may see this negative as a business opportunity to expand their security solutions to cover this bridge that is a clear headache for IoT.

60% of enterprises don't have the #analytics capabilities to take advantage of data generated from #IoT.

I am sure again, where there is a WILL there is always a WAY.

XO B.

Excerpts from Wilbers site, Forbes, Twitter, Gartner, Security Round Table