The Internet of Things

Eradium omnichannel glossary IOT

The Internet of Things

The Internet of Things (IoT) is the network of physical objects or “things” embedded with electronics, software, sensors, and connectivity to enable objects to collect and exchange data. The Internet of Things allows objects to be sensed and controlled remotely across existing network infrastructure, creating opportunities for more direct integration between the physical world and computer-based systems, and resulting in improved efficiency, accuracy and economic benefit.  Each thing is uniquely identifiable through its embedded computing system but is able to interoperate within the existing Internet infrastructure. Experts estimate that the IoT will consist of almost 50 billion objects by 2020.
The term “Internet of Things” was coined by British entrepreneur Kevin Ashton in 1999. Typically, IoT is expected to offer advanced connectivity of devices, systems, and services that goes beyond machine-to-machine communications (M2M) and covers a variety of protocols, domains, and applications. The interconnection of these embedded devices (including smart objects), is expected to usher in automation in nearly all fields, while also enabling advanced applications like a Smart Grid, and expanding to the areas such as Smart city. (1)

Eradium omnichannel glossary IOT Ford

An example IOT innovation – Ford

The automotive maker is investing in new business models and partnerships that include Zipcar-like ridesharing, and Uber-esque on-demand services. Its AppLink platform allows users to connect to apps through voice recognition, and Ford has ambitions give drivers the ability to pre-order Starbucks or automatically pay for gas. (2)

References

  1. Internet of things, https://en.wikipedia.org/wiki/Internet_of_Things
  2. 9 Examples of the Internet of Things That Aren’t Nest, https://blog.percolate.com/2015/01/9-examples-internet-things-arent-nest/


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