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IoT: The 3rd Wave of Connectivity

Things happen in threes:

The Internet of Things marks the 3rd wave of development when it comes to how we connect with each other and the world around us.

First, in the 90’s, we were tethered to a Fixed Line. I still remember the screeching sounds I heard while I was making a sandwich, waiting for AOL to finish logging in.

Secondly, it wasn’t that long ago that we developed mobile internet, giving us the ability to not only have unlimited information at our fingertips but also to let everyone know where we are, what we’re doing, and how cute our kids are at any given time.

Now, as we step into the third phase of connectivity, there is no limit on how we can communicate and get information from the things we use every day.

Here’s the problem though – IoT can get expensive real fast if not done right.

While the technology is there to turn everything around us into a “Smart Device”, it doesn’t make sense to replace your oven with one that can tell you how many times you’ve given up on life and cooked pizza rolls this week. With the cost of connectivity declining, there are some trends in the IoT world to consider moving forward.

1. Cost of tracking will go down

The cost to just replace everything we own with a connected version of itself isn’t realistic. There is so much information that can be gathered from the already existing assets that we have around us.

Luckily, with the growing demand for connectivity, more and more tracking devices or beacons are decreasing in cost. And, just like mobile phones, they are being developed with more capabilities without all of the bulky packaging. Nowadays you can find beacons the size of a quarter that can be used to track anything from arm chairs to airplanes.

2. One platform to rule them all and in the darkness bind them

When LG makes a smart refrigerator, they want you to use their device management platform.

If Whirlpool develops a smart washing machine, you’ll then have to use the Whirlpool platform.

Every new smart device will come with its own way to manage it. With beacons, you are able to manage all of your devices from a single platform regardless of whose it is.

3. Demand is growing and so is the DATA

With all of the information being gathered and stored in these platforms, assumptions can start being made. By pulling in structured data to be compared with unstructured data, patterns can be found and analyzed to make better decisions on how we interact with the things arounds us.

Example #1:
A patient comes into the hospital with the flu. From information gathered, different pieces of equipment can be suggested for use that have proven to be successful to treat a flu patient in the past.

Example #2:
Endless nachos. Think about it.

Historically there is a gap when it comes to knowing the true cost of doing business.

With the internet of things, companies now have the ability to close that gap and achieve a 360° view of their total cost of services. Keep an eye out for the fourth wave of technology coming next week, weee-fi.