Welcome to the first edition of our Internet of Things magazine, the latest in our series of publications created to share ideas, encourage discussion and promote innovation.
The term ‘Internet of Things,’ (IoT) may have been first coined in 1999, but it is only in the last few years that its potential capabilities and implications have started coming into focus. Currently at the very peak of its hype cycle, the technology is still in its infancy, and if its applications can even come close to matching expectations, the coming years could see tremendous advancements in the field.
Put simply, the virtually endless opportunities made possible by the IoT are not yet fully understood, but the technology has the capability to make ‘smart connections’ with everything from cars and fridges to wearable devices and even the ground we walk on.
However, with 21 billion connected devices potentially producing data by 2018, there is a danger that the industry could become flooded by a wave of unfiltered data. Pedro Yiakoumi takes a look at the need for symbiosis between Big Data and the IoT, and the advantages of the IoT’s relatively protracted development.
What is not yet entirely clear is quite how the potential value of the IoT is to be extracted. Technology creating what could be $6 trillion of new value, the nimblest of companies could see an immediate return, and innovative methods of extracting value will bear fruit; something about an early bird comes to mind.
As for burgeoning IoT locations, the tech currently has a few hubs dotted around the world, but San Francisco and Singapore are emerging as perhaps the most exciting, and Elaine Li has taken a look at the Asian city-state set to dominate advancements in the coming years.
And before we get too excited about the possibilities of the IoT, Laura Denham has warned of the dangers of over-hyping the tech. 2016 may not be the year every household appliance begins transmitting data, but the leaps and bounds should, regardless, be appreciated for what they are.
In addition to these, I look at how the NFL is grappling with the potential capabilities of the IoT and pushing the boundaries of what the tech could mean for sport.