The Internet of Things…the Next Revolution

Make no mistake our fellow humans, a revolution is coming.   You may think we are a little wet behind the ears but trust us we are not at all.   You see the next leg up the food chain of technology is a network of physical devices, vehicles and home appliances. All of these pieces of technology are embedded with electronics, software sensors, actuators and network connectivity, which will allow them to connect and exchange information.   This data will allow these pieces of everyday life to inter-operate and connect.   If you think this will be a small piece of the technology market, think again.   Some economists have estimated that the global market value of the Internet of Things or IoT will reach $7.0 trillion by the year 2020.

How does it work and what does it do? It is actually quite amazing in the fact that it will affect every facet of human existence. IoT allows things to be sensed or controlled remotely across our already existing network or Internet infrastructure. This creates the ability to have integrated computer-based systems with the physical world.   This will result in approved efficiency, which will have an economic benefit to all industries. It will also have reduced human interaction, which will automate things in our lives. This will produce increased accuracy as well.

The mainstream technology push of the “smart home” has been gaining momentum for several years. Now with the introduction of IoT that will become a necessity for all homes. Your home will interact with cyber systems as part of smart power grids, virtual power plants, intelligent transportation and the introduction of global smart cities. Sensors and monitoring systems will assist metropolitan transportation systems with efficiency as well as information being known in real time. Biochip transponders will be utilized in farming for health and efficiency on animals and crops. Biological and environmental monitoring will be utilized for illness.   Law enforcement will benefit from real time information as well as fire and rescue personnel will be able to have actual medical history and up to the second vital signs of any patient.   Response time to an emergency will improve. Ladies and gentlemen, overall life will improve drastically.

This technology first began in autonomous driving vehicles and simple things like the new learning thermostats.   That can learn the energy needs of your home, compare that to information available to them via the Internet and know exactly how warm or cool to make your home.   They can also schedule your heat or air conditioning for your desired temperature at the desired time.   At all other times they can keep your home comfortable while remaining energy efficient, thus reducing your bills but allowing for less energy consumption worldwide.

This technology can extent to your refrigerator/freezer that can adjust the temperature in certain sections depending on what each food needs.   It can be responsible for ordering additional food when the food in the refrigerator is used.   Thus making the purchasing and consumption of consumer goods more efficient.   There is going to be major cost savings to the manufacturer who will be getting instantaneous market information on what is selling, in what region and where demand for a product is going.   Shipping and distribution businesses will be able to have real time market information and be able to forecast trends in greater accuracy. In the current shift to an Internet based shopping and fulfillment society, this will allow shippers and transportation companies the ability to reduce delivery time.  Imports and exports will have instantaneous information on what needs to be done to sell more product or which worldwide markets are interested in that specific product.

Automated homes will know when equipment is likely to fail or what problems there are so they can be worked out before there is a major issue.   That will create efficiencies in repairs and remodeling.   The data that will be derived from such systems will help in development and building of smart cities and smart buildings that are capable of running autonomously. This will cut down on the need for human interaction for mundane tasks and make running systems more cost efficient.

The days of a reactionary economic stance will be gone and the real time economic model will become the cornerstone of our economy. As this occurs all industries and all facets of life will be affected.   Combined with the growth of artificial intelligence and automation this real time data is the next level of economic expansion.   This implementation across all sectors of our lives will have large effects on how we live, work and enjoy.   This growing industry will be a major focus going forward and everyone should be watching for which companies have a foothold into this technology.

One should consider investing into these companies as they are in their infancy.   Imagine if you could have invested in Microsoft, Intel, Apple and Google in their infancy……….where would you be financially today……

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