How will the Internet of Things revolutionize future industries and impact the personal and public spheres?

The Fourth Industrial Revolution will be brought about by the convergence of manufacturing and information and communication technologies, and the Internet of Things (IoT) will revolutionize the personal, industrial, and public sectors, providing opportunities for entrepreneurship and promoting the development of various industries.

 

Humanity has always been hungry for change. Revolutions have changed political systems, and science has developed through the exploration of curiosity. This led to the Industrial Revolution. The first industrial revolution was caused by the mechanization of the production process, and the second by the birth of the electrical industry. The third industrial revolution was facilitated by the development of information and communication technologies, and we can predict that the fourth industrial revolution will occur in the future. It’s no secret that the fourth industrial revolution will be driven by a key industry in the near future. Many experts believe that the fourth industrial revolution will be driven by the convergence of manufacturing and information and communication technology (ICT).
In particular, the fourth industrial revolution is expected to improve the quality of human life and revolutionize various industries. For example, in healthcare, it will enable telemedicine and personalized care; in transportation, self-driving cars will be introduced to reduce traffic accidents and optimize traffic flow; and in education, artificial intelligence tutors will be able to provide optimized education for individual learners. These are just a few of the many possibilities that Industry 4.0 will bring.
There are events where you can explore these future trends. The Consumer Electronics Show (CES) and Mobile World Congress (MWC) are two of them. In 2016, the keywords for these events were IoT (Internet of Things) and VR (Virtual Reality). In this article, we’ll explain what the Internet of Things (IoT) is, what it consists of, and why it’s gaining traction in the industry.
There is an organization under the United Nations called the ITU. It stands for International Telecommunication Union and is a highly respected organization that specializes in telecommunications. The organization defines the Internet of Things as “a global-scale infrastructure that enables the delivery of advanced services through the interconnection of diverse physical and virtual objects, utilizing existing and emerging interoperable information and communication technologies.” In layman’s terms, objects are embedded with chips that can connect to the network and sensors that can get information from them, creating new services by connecting objects to each other or between objects and people via wireless communication. For example, a smart band embeds a sensor and a network-connected chip that can obtain health information from a person’s bracelet, allowing the person to check their heart rate or stress level on a separate device, a smartphone, just by wearing the bracelet on their arm.
There are four main components to applying the Internet of Things. First, devices (terminals) and sensors are needed to collect the necessary information from objects, send and receive information over the Internet, and provide services based on the information. Second, you need a network that supports devices to send and receive information to and from other objects and people. Third, we need a platform that enables objects to be manipulated through controls. Finally, we need security to ensure that communications are not distorted.

 

 

As you can see from the components of the Internet of Things, there are an infinite number of services that can be created using the characteristics of objects, depending on what services they provide. This broad range of services can be categorized into three main strands. There are personal IoT, industrial IoT, and public IoT. Personal IoT refers to user-centered services for personal safety and convenience. Think of the smartbands we talked about earlier, or remote monitoring of your home via your smartphone. Industrial IoT is about networking various related industries and enabling systems to work together to make them more efficient and strategic. For example, when applied to crops on a farm, the technology can be used to remotely check on the health of crops, and sensors can provide more detailed information than a human can. This can help increase production. Public IoT is about converging and connecting various information for citizen safety. CCTV for crime prevention is a prime example.
There are many reasons why the IoT is gaining traction. First of all, it’s easy to start a business. If you look at the components of the IoT, the only thing a startup needs to create is a device. The sensors, networks, security, and platforms will be developed and provided by other companies as the Internet of Things proliferates. Building the right devices and creating the right services to go with them will be the key to startups. Like other manufacturing industries, there are fewer barriers to entry, such as economies of scale or accumulated technology. Next, creating useful sensors, security, and platforms will also be a lucrative business. In other words, as the demand for IoT grows, many other industries will develop. It’s not just about creating new value-added services, but a whole host of other sectors will develop around it. It’s like the development of semiconductors that led to the development of computers, and the invention of smartphones that led to the development of communication technology. Therefore, companies in various fields are focusing on technologies that will grow together with the development of the IoT. Finally, it’s important to note that the scope of the Internet of Things is endless. Anything that can process useful information through connections between objects is a business in itself. It’s not a narrow industry like manufacturing, so if your item is unique, you’re unlikely to face much competition. The lack of competition is a huge opportunity for companies.
In conclusion, the Internet of Things will be at the center of the fourth industrial revolution and will bring revolutionary changes to many industries. We need to pay close attention to these changes, seize the opportunities, and become the main players in the future industries.