Earlier this year, the number of connected devices reached the 10 billion mark, surpassing the world’s human population, and experts expect that number to reach 50 billion over the next two years. This phenomenon, known as the Internet of Things (IoT), comprises a highly distributed model of connected objects, devices, and sensors that are used to communicate data. Everyday products can then use that data to analyze, plan, and make intelligent decisions. While IoT promises to fundamentally change our daily lives, arguably the most significant impact of IoT will be to the business world.
While consumers will enjoy new levels of connectivity with IoT, businesses will receive the lion’s share of the benefits. IoT will usher in a wealth of intelligence that businesses can use for planning, management, policy, and decision-making that will help them maximize productivity and efficiency while minimizing costs. In fact, some of these business applications already exist. For example, by connecting their cameras to the network, retailers can use analytics tools that can help them improve customer service, understand traffic patterns, and enhance inventory decisions. Continue reading “Friend or Foe? When IoT Helps You Get Hacked by Your Security”
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