The Internet of Things has entered into the minutest part of our lives, thanks to the emerging technologies. Starting from the manufacturing to IT industry to logistics to other corporate offices, IOT has been embraced well by each and every industry. What makes this technology unique is its real time tracking system. As per Mc Kinsey data, the total potential that iot can impact could range from $3.9 trillion-11.1 trillion per year in 2025. Iot can fundamentally transform the surrounding. Now let’s dive into deep details what IoT is and how it can impact the way organizations work.
The Internet of Things signifies the ecosystem where the physical objects are connected through the internet. The IoT include smart TV, an automobile with an in-built sensor, AC with an in-built sensor. The objects are connected to the IP system and through it the data can be transferred over a network without much intervention. The technology embedded in the objects in form of sensor help to interact them with the external and the internal environment, and this is how they obey commands as instructed.
IoT platforms can help the organization to reduce the cost and streamline the efficiency. With improved tracking of devices using sensors, the users can easily gain insights on the real-time analytics, which would further help them to make smart decisions. The growth in the data, processes and things, has fuelled this technology and has made it the future.
There are various companies that have embraced this technology the popular among them is American chip-maker Qualcomm, Bharti Airtel. The intense competition among the Indian telecos is persuading the carriers to install this technology. Moreover, this technology can help them to differentiate.
Though the technology has commanded respected in each and every sector, but these organizations are showing an astronomical increase in the usage of the same, which includes fitness tracker, real estate industries, vehicles, manufacturing, agriculture, healthcare, energy, power sector, etc.
The next generation technology IoT can bring about a lot of jobs. Already it has become one of the most sought after course among the mid-level and senior executives. The technology professionals from different experience levels are moving up and reskilling themselves in this field, to stay relevant and for the job security. As per the estimates, it is believed that the emerging technologies like AI and IoT is the hottest skill for the year 2018 as well the fastest skill. Even the recruitment agencies have validated the same. These courses have swept away the traditional skills and it has mainstay for almost any kind of organization.
Today, various companies have partnered with various IT organizations to keep pace with the changing technology. It is a new buzzword in the market. Companies are spending a substantial amount of time in making this technology to make this work. But there are certain challenges that this technology has brought including security and privacy issues, the government needs to address the same to make it reach to the full potential.
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