{"id":23882,"date":"2019-07-19T12:10:55","date_gmt":"2019-07-19T09:10:55","guid":{"rendered":"https:\/\/www.bondora.com\/blog\/?p=23882"},"modified":"2019-07-19T12:10:55","modified_gmt":"2019-07-19T09:10:55","slug":"iot-the-hottest-emerging-technology-you-need-to-know-about","status":"publish","type":"post","link":"https:\/\/goandgrow.eu\/en\/blog\/iot-the-hottest-emerging-technology-you-need-to-know-about\/","title":{"rendered":"IoT: The Hottest Emerging Technology You Need to Know About"},"content":{"rendered":"\n
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Imagine a world where\nall of your devices are connected. Your alarm clock alerts your coffee maker to\nstart brewing a fresh cup in the morning. Your printer automatically purchases\nnew ink on your Amazon account when it notices the levels are running low. Your\nlawnmower alerts you when it is time to undergo maintenance before it runs into\nproblems. This is what the internet-of-things (IoT) is attempting to create. A\nworld where devices and computers are all connected to improve the lives of\npeople, while at the same time improving efficiency and processes in the\nbusiness world.<\/p>\n\n\n\n

The allure of connecting\ndevices of all shapes and sizes excites those who are technologically savvy.\nBut this technology is also difficult to comprehend, and use, for those of an\nolder age demographic. Add on growing security concerns, and IoT still has a\nway to go, even if it is already used regularly in daily life. <\/p>\n\n\n\n

What is IoT?<\/strong><\/h2>\n\n\n\n

The internet-of-things\n(IoT) attempts to connect all physical objects in the world to the internet. If\nan object has an On\/Off switch, it has the potential to be connected to the\ninternet and, in turn, become a part of an IoT network. Doing so gives\nconsumers and businesses more control over objects, as well as insights and\ndata related to the object, like the object\u2019s temperature, physical location,\nand other data points. In order to collect data, objects are equipped with\nsensors that can track their movements and other important data. This data is\nthen sent to other devices to analyze information and make better decisions\nbased on the real-time information being collected. <\/p>\n\n\n\n

Experimentation with IoT\nfirst began back in the 1980s. Several graduate students at Carnegie Mellon\nUniversity wanted to create a way to track the contents of a vending machine<\/a> from a remote location to know when that\nvending machine was out-of-stock of a particular product. This way, students\nwouldn\u2019t have to take a trip to the vending machine to know if it was stocked\nwith their favorite snacks and drinks. The students attached sensors to the\nmachine which would determine the inventory levels of each product, and hooked\nthose sensors into an internet network to track the inventory changes from\nanywhere. The experiment was a resounding success among students. One of the\ncreators of this technology remembers, \u201cAfter a while, it became standard\nprocedure to check the status of the Coke machine before you\u2019d go downstairs\nbecause you wanted to make sure you got the coldest Coke available.\u201d<\/p>\n\n\n\n

What started out as\ncollecting data from one vending machine has grown exponentially, and the IoT\nmarket is expected to hit $318 billion by 2023<\/a>. Every day, more and more objects are\nbeing connected to the internet, thus building on the growing IoT networks\nalready available. The implication of IoT are massive. Since each device on an\nIoT network can communicate with each other, there is potential to grow\nexpansive networks of interrelated objects that work in harmony together to\nimprove inefficiencies and identify problems like never before.<\/p>\n\n\n\n

Endless Uses<\/strong><\/h3>\n\n\n\n

Checking the inventory\nlevels on vending machines was just the tip of the iceberg, and there were many\nmore uses of IoT that were developed in the decades to come. Let\u2019s look at a\nfew basic IoT examples that already exist:<\/p>\n\n\n\n

There have been\nrelatively few innovations to the standard desk lamp over the decades. Sure, \u201cThe Clapper<\/a>\u201d made it easy to turn your lamp on from\nacross the room, but it has remained more of a gimmick than anything. Today,\nconsumers can use IoT technology to connect their lamp to smart home devices\nsuch as the Amazon Alexa. Doing so allows users to not only turn on a lamp with\na simple voice command; they can dim the light to a certain level, or even change the lighting color<\/a> if they desire. This is just one example\nof many home applications for IoT, which cover everything from smart thermostats<\/a> to home security systems<\/a>.<\/p>\n\n\n\n

Connected cars are some\nof the most widely talked about IoT uses. These vehicles act as a big computer,\nhelping drivers to stream music, dictate texts, and even park hands-free.\nEventually, it is hoped that this will lead to a world where vehicles will be driven autonomously<\/a>, and drivers will have the luxury of\nsitting back and enjoying the ride, and IoT is driving this charge. IoT\ntechnology helps relay information about GPS location, road conditions, and\ntraffic to help an autonomous vehicle map its course and stay safe on the road.<\/p>\n\n\n\n

Similarly to connected\ncars, driverless forklifts are helping improve efficiency in warehouses around\nthe globe. These forklifts can identify what objects need moving based on\ndirectives from staff, and can even avoid collisions based on sensing the distance\nof other objects in space. The new smart warehouse<\/a> will not just be equipped with autonomous\nforklifts, but also sensors retrofitted for shelves to detect inventory levels,\nand wearable devices for employees to track their health on the job. IoT is one\nof the ways Amazon is staying ahead of its competitors, as it develops connected robotic solutions<\/a> for its massive warehouses.<\/p>\n\n\n\n

IoT Could Help the Elderly, But Only If They Can Use It<\/h3>\n\n\n\n
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For many, IoT is an exciting concept which could revolutionize the way we interact with the objects around us. Yet, for others, it\u2019s an intimidating idea that seems more like science fiction than reality.\u00a0<\/p>\n\n\n\n

As the technology exists\ntoday, it still requires setup and installation, which is a major roadblock to\nadoption by those with less technological skills. Additionally, connected\ndevices aren\u2019t always easy to use. These issues were highlighted by Editor in Chief at New\nRelic, Inc. Fredric Paul<\/a>:<\/p>\n\n\n\n

\u201cNo matter how simple it\nmay seem to speak to an Amazon Echo: \u201cAlexa, play some classical music,\u201d it\noften turns out to be more complicated than that. What if you can\u2019t remember\nthe name of the song you want to hear? Alexa and her screenless ilk don\u2019t make\nit easy to thumb through your CD or vinyl collection for inspiration. And if\nsomething goes wrong with the connection, troubleshooting a voice-activated\ndevice can quickly become a Kafka-esque ordeal.\u201d<\/em><\/p>\n\n\n\n

Interestingly enough,\nthis technology which is so scary and intimidating, could provide immense\nbenefits to the elderly population. There are a slew of healthcare applications\nfor IoT devices to aid in the healthcare and quality of life for those who are\naging. As much as voice-controlled systems can be hard to use, things like\nordering toilet paper or groceries with just a few words would drastically improve the lives<\/a> of many who have difficulty with these\ntasks otherwise. Connected devices can also accurately dispense medication<\/a> on a daily basis or even predict the risk of falling<\/a> in adults 65 and older. <\/p>\n\n\n\n

Security Concerns<\/h3>\n\n\n\n
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Putting more devices on\nthe internet creates more points of attack for hackers and malicious actors.\nSecurity breaches of IoT devices and networks are a major concern for experts\nin the industry. Unfortunately, IoT security is not yet up to snuff. In fact, according to one study<\/a>, 48% of companies which use IoT don\u2019t\nhave any system in place to determine if they have been hacked.<\/p>\n\n\n\n

Stories of previous\nhacks to IoT network feel like they are straight out of a horror movie. <\/p>\n\n\n\n

The largest distributed\ndenial of service (DDoS) attack in history, which brought down much of the\ninternet, was attributed to malware infected via IoT devices<\/a>. Because the malware could search for\nconnected devices, it was able to take control of an estimated 100,000 devices\nto pull off the attack. <\/p>\n\n\n\n

Think your IoT connected\ncar is safe? You might want to think again. In a display of the vulnerabilities\nof IoT devices, hackers took control of a Jeep vehicle<\/a> and drove it off the road with a reporter\nstill inside (the reporter was not injured, and knew the attack was\nforthcoming). Hackers were able to manipulate the car\u2019s steering, breaks,\nradio, and anything else they wanted. This is a scary prospect for anyone\ndriving a connected car on the road today.<\/p>\n\n\n\n

Other attacks might seem\nsmall, but also display security concerns for IoT technology. In Finland,\nhackers were able to cut the heat<\/a> of two apartment buildings in November.\nSome companies have had their connected printers hacked<\/a>, making it easy for hackers to obtain\nsensitive documents.<\/p>\n\n\n\n

Outside of blatant\nattacks, hackers are also able to breach the privacy of IoT device users. By\nhacking into IoT devices, sensitive personal data and information can be\nreleased. But it might not even take hacking to release such information, as\nseen in a recent court case where IoT data from a Fitbit device was used to charge a man for murder<\/a>.<\/p>\n\n\n\n

There are a few ways IoT\ndevice users can protect themselves from such vulnerabilities. Taking precautionary measures<\/a>, such as encrypting device data and\nrunning a secured network, are good places to start. Additionally, ensuring protection against physical tampering<\/a> is key. The more access points for\nphysical devices to enter the network, the easier it is for the network to\nbecome infected it with malicious code or viruses. Limiting these access points\nas much as possible reduces this risk considerably.<\/p>\n\n\n\n

Conclusion<\/strong><\/h2>\n\n\n\n

The average consumer\nalready lives a life full of connected IoT devices. Cell phones, cars, and\nsmart speakers are just some of these uses which already exist, laying the\ngroundwork for a future of even more connection between devices in daily life.\nOn the business side, IoT has created new and improved warehouses to run at\nmaximum efficiency. For now, it appears even heightened security concerns\naren\u2019t enough to stop the momentum of IoT technology toward a world where\neverything is connected. <\/p>\n","protected":false},"excerpt":{"rendered":"

Imagine a world where all of your devices are connected. Your alarm clock alerts your coffee maker to start brewing a fresh cup in the morning. Your printer automatically purchases new ink on your Amazon account when it notices the levels are running low. Your lawnmower alerts you when it is time to undergo maintenance […]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[119],"tags":[],"class_list":["post-23882","post","type-post","status-publish","format-standard","hentry","category-financial-well-being"],"acf":[],"featured_image":null,"categories_names":["Financial Well-being"],"category_name":"Financial Well-being","_links":{"self":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts\/23882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/comments?post=23882"}],"version-history":[{"count":0,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts\/23882\/revisions"}],"wp:attachment":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/media?parent=23882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/categories?post=23882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/tags?post=23882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}