You’ve likely heard the term tossed around—“The Internet of Things”. But what does it really mean, and is it something you should care about?
The answer to the second question is a resounding yes. The Internet of Things is a total game-changer and could alter how we do just about everything.
Put simply, the Internet of Things is made up of devices connecting with the Internet and with each other. We already see this with things like fitness trackers connecting wirelessly to scales, computers, and smartphones, and with the growth of the Internet of Things, we’ll see it in so many different areas. Conservative estimates are that 26 billion devices will be connected by 2020, but some studies have that number in the hundreds of billions of devices. Essentially, everything that can be connected, will be, down to clothing, accessories, and everyday items.
The Internet of Things can be applied to any industry. Transportation companies will be able to use it to optimize traffic patterns and potentially connect things like streetlights, mass transit, and maps to create a more efficient transportation system. There are also already applications in healthcare, utilities management, manufacturing and more. GE is even already using the Internet of Things to connect large machinery like jet engines and railroad cars.
For consumers, the Internet of Things means life should be more connected, streamlined, and productive. We’ll be able to look at ourselves and our actions in a snapshot, such as a quick view of our health and fitness. For businesses, the Internet of Things means that there are countless opportunities for new products, services, and markets.
The Internet of Things isn’t perfect—there are already concerns about security and how to sort through and analyze the amazing amount of data that comes from connected devices. However, these concerns seem small compared to the possibility for a growing technology.
The Internet of Things will change how we do just about everything. To stay up to date, pay attention to how things are connected and get ready to optimize your personal and professional lives for an increasingly connected world.
Jacob Morgan is a keynote speaker, author, and futurist. You can invite Jacob to keynote your next conference, subscribe to his videos on Youtube, check our his podcast, or subscribe to his newsletter!
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