Post written by Blake W., Management
Consultant at Ideaca. Read more on his blog: Blake Watson.
The Internet
of Things (IoT), essentially a future-focused concept where everyday devices
connect and communicate data in an intelligent fashion is a highly contested
topic. Will it mark the beginning of a new era in our civilization or a
catastrophic detriment to the world as we know it? Skipping over the
possibility of our technology becoming self-aware and “terminating” us, these
two polar opposites are often portrayed in the discussion of this topic. This
post will broadly summarize the IoT and discuss the positives and negatives in
relation to our daily lives.
So what is
the IoT? It is a term that has been vaguely used since the 1990’s and has
gained traction since its initial public proposal by Kevin Ashton in 1999. It is a term that suggests a
heavy increase in device-to-device and device-to-Internet connectivity. By
equipping these devices into a worldwide network of miniscule identification
devices the IoT could transform our daily lives.
Is this
interconnectivity even possible? Simply put, yes. Technology is growing at a
rapid pace, confirming Moore’s Law, wherein Gordon E. Moore’s observed
that the transistors, and thus the processing power of our devices, double approximately
every two years. Although many have debated the staying power of this
observation, the exponential potential of this theory is astounding. If the
past few decades are any indication, the IoT is a highly probable (and sometimes
frightening) reality.
As mentioned
before, the IoT could transform life as we know it. A simple scenario: You get
home from a busy day at work. Monitors in your home identify you and let you
in. Immediately, the room taps into a wealth of your personal information and
preferences…climate control, music, lighting, and digital décor. These sensors
may even be able to determine what you want for dinner and start preparing it
for you based off of what is in your refrigerator. Some of these devices are
already available through “smart” technology. Within the next 20, the
possibilities are endless.
THE GOOD:
For the
individual, the IoT integration arguably increases our standards of living. No
longer are we plagued by menial tasks that take up our days. The IoT
essentially frees up time and energy that could be better spent productively or
recreationally. It doesn’t necessarily mean that as a collective we will be
healthier, happier individuals. However, we will have more opportunity to
achieve this lifestyle.
From the
business perspective, greater analytic capabilities are accessible to
management and supervisors. Asset tracking, inventory controls, and financial
drilldowns are far more accurate. Location services, automation, and device
interconnectivity eliminate a great deal of the “guess-timation” involved in
these operations. Sectors such as consulting, financial services, and even
health could benefit greatly from these advancements.
Businesses
also have access to a huge amount of data. Big
Data will be a simple
task compared to the vast amount of information that corporations will be able
to collect from client usage and habits. We will have to start considering XXXL
Data as opposed to Big Data. Billions and even trillions of source data will give
business owners the tools to minutely tailor their products and marketing to
individuals in the most literal sense of the word.
THE BAD:
The IoT has a
dark side to it. Many people feel a sense of unease when they consider the
privacy concerns the IoT imposes. If you are the slightest bit afraid of “Big
Brother”, then the IoT is not for you. The amount of information that can be
collected by governments and corporations through the billions of personal,
business, and home devices is astounding. These devices sometimes know more
about you than you do.
Another hot
topic at the moment is job security; for low income earners, the IoT could make
things especially tough. A number of unskilled tasks (and even some higher
level analytics) might easily be replaced by a network of devices connected to
the IoT.
Another
concern is the effect that this new world order may have on our physical
health. When all of our devices are communicating, making decisions, and
essentially managing our lives for us, the opportunity to become complacent
with that level of comfort is tempting. The World Health Organization estimates that over 65% of the
world’s population currently lives in countries where obesity kills more people
than being underweight. This upward trend isn’t expected to slow down anytime
soon, especially with the continued introduction of technology that makes our
lives even easier.
OVERALL:
Although
there are many negatives that could affect reception of the IoT, it is my
belief that reactions will be mostly positive. Although some aspects of these
new technologies are to our detriment, there is a great deal of benefit that
can come from an increased awareness of the IoT. As younger generations are brought
up with modern day technologies, we may begin to see society move away from a
privacy-centric culture. This shift would effectively reduce public outcry for
greater privacy rights in this changing environment.
Although
malicious Internet hackers and identity thieves may pry on the wealth of
information available, we are facing no greater threat in the future than we
are now. Security safeguards are in place and continue to develop. At the same
time, data thieves are growing their methods for subverting such safeguards.
This struggle for access and security will continue with no real definitive end
in sight. Therefore, data security should not be considered within scope of
this discussion.
The main
problem moving towards our ideal vision of the IoT is that it will depend
heavily upon data sharing and corporate cooperation. Think of all of the
different products in your home… appliances, personal devices, clothing, and
climate control. Seamless integration is necessary to ensure the IoT is able to
function effectively in your daily life. If your devices cannot access the
personal information it needs it will not function properly. It is hard to
imagine companies (For example, Apple and Samsung) sharing customer data and
integrating their products out of the box. Cooperation will be mandatory and it
is something that companies will have to be overcome as we move forward with
the IoT.
As briefly
mentioned above, consulting firms such as Ideaca
Knowledge Services
will benefit greatly from the wealth of information available to them. The
greater availability of information resources will allow their consultants to
better assess client needs. Having clear needs from both the client and end
consumer is essential. Better data means better solutions and ultimately better
deliverables.
Whatever your
take is on the IoT, there are a lot of variables to take into account. The
changes that it will bring to our society are truly hard to imagine 20 years
out. For good or for bad, the world is growing and developing towards the IoT.
Will we try to hold on to our present state of technology or embrace these
changes when they come?
