For those of you who are unaware, the Internet of things refers to the way that the Internet connects nearly every electronic device in our world. It’s in the way nearly all devices can be linked and can share information with one another and have the ability to ‘learn.’
As many have foreseen, this global network of interconnected smart devices has, and will have, a major impact on the way society functions and behaves.
Moreover, IoT will have a huge effect on business and way in which it is conducted. Business analytics and consultancy firm McKinsey and Company reported in July 2015 that by 2025, Internet of things applications could have a $11 trillion impact on the global economy. This has the potential to change the lives of millions, especially in developing economies where lack of infrastructure is a severe impediment to business. IoT makes things faster, more efficient and ultimately more productive. Transfer of technology from developed economies to lesser developed economies can improve standards of living and reduce inequality and poverty for these countries as they are able to compete with international businesses.
Continuing in the same vein, IoT can lead to higher literacy rates as education becomes more accessible. Smart classrooms and interactive learning leads to more students becoming interested in learning and knowledgeable about their subjects. This will lead to a better future in which there are more entrepreneurs, professors, researchers etc. The positive social impact of better quality of education can never be overstated.
But this is all on a global scale. How does IoT affect our personal lives?
Well, the impact of this interconnection between devices can be felt keenly in personal interactions. Nowadays, it has become the norm for personal interactions between friends/family/lovers to be recorded on social media. Whether it’s a lunch or a marriage or a house warming ceremony, these intimate moments between loved ones are all shared on platforms such as Snapchat, Instagram, Facebook etc. These applications work across several platforms and devices which means that people can stay connected no matter where they go. Plus, there will never be the danger of forgetting any special occasion because social media will provide reminders.
Furthermore, health and fitness devices such as jawbone and Fitbit encourage the pursuit of a healthier lifestyle. Synced with smartphones and smartwatches, these devices help to promote a sense of ‘self-health responsibility.’ In a world beset by health problems, this responsibility will lead to longer lifespans and better lifestyles.
In the home, IoT proves to be the solution to all security concerns. Wi-fi video doorbells, smart cameras that stream live video to phones and devices with motion sensors are all examples of electronics working together to make lives easier.
Smart TV’s, AC’s, lights and fridges help to conserve both electricity and money. This means that a better standard of living will soon be possible for those with lower incomes due to the price competitiveness of smart homes.
At Silvan, IoT is the founding principle behind our operations. To us, the positive social impact of the Internet of Things outweighs any possible negative fallout. Efficiency, productivity and security are the three main reasons we believe a smart world is a better world. We can help build a smart world for you and your family and where better to start than in the home?