The Evolution of the Internet: Things (IoT)

The Evolution of the Internet: Things (IoT)

Internet of Things

The internet of today is so much more than the mere transfer of information. With the increase in connected smart home devices, your fridge can notify you of upcoming expiry dates; the Google Assistant can help you track your day; Nest can learn your habits and adjust ambient temperatures accordingly; and more and more of your life can be automated. The Internet of Things (IoT) has changed the way we live, work, and play.

According to BI Intelligence, the research arm of Business Insider, “there will be 24 billion connected devices on Earth by 2020”. That’s a lot of smart watches! Of course the devices go far beyond wearables. Everything from sensors, locks, speakers, and even pacemakers, among many others, are connecting to the internet and interacting intelligently with other devices and the environment.

Business Insider reports that the interesting trend is that businesses will be the primary adopter of IoT technologies. Consumers will have their fair share but business is where the widespread adoption will take place. This is due to three main factors according to BI. First, reduce operating costs; Second, increase productivity; and third, expand to new markets or develop new product offerings.

IoT

Image via https://www.acalbfi.com/nl/IoT/

No doubt, the IoT is here to stay and it is likely to play a part in your business in the future. Plan how you might integrate these smart, connected devices in your operation. Ask yourself how can my business take advantage of the IoT? What applications or devices suit my business? How can I enhance my business offering through the use of smart devices?

One company tackling the IoT head on here in Edmonton is Levven Electronics, a designer, manufacturer, and seller of simple, affordable controls. Their two families of products are a wireless audio solution, GoRave, and a wireless control solution, GoConex. Levven President and CEO, James Keirstead says hereMany think innovation comes in rare leaps like the light bulb, radio, or iPod.  People say, ‘I can’t come up with something that revolutionary, so why even try.’ That’s all wrong. Anyone can innovate. Innovation is a series of little steps that lead to game-changing ideas. It’s not a rare single epiphany. It’s a process.

The Internet of Things is an important area and it is important for business owners to consider the impact of technology on their organizations. A couple of good resource articles we like are:

IoT: Forget Hardware, think product and service possibilities

How Your Small Business Can Take Advantage of the IoT Wave

Five ways to take advantage of the Internet of Things

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