The answer to the first part is quite simple actually. Internet of things is things that connect a physical object to the internet. The second part, why it is trending can be tricky to answer as there could be several reasons. In fact, there are several reasons that we’ll talk about soon.
It’s 2023 and we have ushered into the age of industry 4.0 and internet 5G already where businesses are leveraging technology and internet to enhance not only customer experience but to optimize business operations as well. This is the age of artificial intelligence (AI) and machine learning (ML) where businesses are focused on utilizing the large amount of data that they generate on daily basis in order to gain insights. Data mining and Big Data is a real thing, having real impact.
You see, the internet has become crucial for literally every business operation now and internet of things (IoT) is just right there to help out.
What is IoT (Internet of things)?
Internet of things is a medium to transform real world objects into intelligent virtual objects. How it is done? To convert an object into an IoT, you need a data storing medium to embed to the object and a gateway like smartphone or computer to connect this medium to web / internet.
Consider a QR code based dog collar for example. It uses the QR code (an AIDC technology) where you can store data like name of the dog, address, phone number of the care taker/owner and anyone can scan the QR code tag using a smartphone and inform the owner in case the dog is lost.
There are millions of internet of things, being used all over the world. The Air conditioner you can control with your mobile, the smart tv, a fitbit that measures your heart rate and informs you on your phone, the bulb which you can control using your voice and change color or switch on/off etc.
Why IoT is trending?
Now coming to the second part, the IOT is trending and there are several reasons for this. Iot has the potential to transform how we interact with things now. It can not only create smart fridge, smart kitchen, smart bathroom, and smart home but smart warehouse, smart vehicle, smart meeting room, and smart manufacturing hubs as well. The possibilities are endless.
Here are some of the popular reasons for IoT trending:
• Industry 4.0
• Changing Consumer behavior
• Customer demands
• Automation
Industry 4.0 making IoT trendy:
Industry 4.0 is pushing global industry transformation. It is the age of combining tech with every business operations and IoT has made major contributions in this regard. Various technologies like RFID, actuators, BLE, NFC, QR codes are changing the way industries function.
Changing consumer behavior making IoT a Trend:
The ever-changing business landscape has a major contributor that is changing consumer behavior. People have changed their shopping habits, their going out habits and how they interact with technologies. The pandemic has only added to the complexity that is consumer behavior and IoT has been a buffer in this regard, shielding businesses from major losses.
Businesses are incorporating Internet of things in every business operation to adjust to the changing tides.
Customer demands making IoT a Trend:
Customer demand is also pushing businesses towards IoT every day making it a trend. Customers don’t want to wait in queues for hours rather they would shop online. They want fast delivery of their products and fast returns. IoT tech like RFID, QR etc can help in this regard.
Automation demands IoT:
Businesses are also waking up to the reality that is Automation. With complex challenges coming their way every day, the need for automation is increasingly significant now.
Automation in business processes and operations not only optimizes the productivity but enhances the growth as well and IoT has a lot to do with that. Use of RFID (radio frequency identification), BLE (Bluetooth low energy) to increase warehouse and inventory visibility attest to this.
So, it is obvious that IoT has become an important part of industry 4.0 and our day to day life. From our smart shower and smart kitchen, to enabling hassle free shopping and smart inventory management, IoT has been truly a game changer.
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