What is the Internet of Things (IoT)?

Source: Vsoftsystems, 23/09/2018

Wondering about the Internet of Things? Here`s our guide to all things
connected
The Internet of Things (IoT) has become quite a buzz word in recent
years, exploding in popularity as businesses attempt to collect more
information from their users and consumers use smarter devices to
power their homes.
The IoT is a blanket term that covers any environment where multiple
devices are connected to one another via the internet. They can talk
to each other, to their creator, to others and of course their owners,
providing information and insights about usage.
One of the first things considered to be an IoT device in the modern
sense of the word was a toaster that its makers connected to the
internet in 1989. Although that example was pretty primitive, it was a
breakthrough at the time. However, IoT has now evolved to cover a much
wider range of devices, such as fridges, TVs, thermostats to keep a
home warm or cool, security systems and voice assistants.
IoT has great importance across industries too, touching every sector,
from retail to manufacturing, healthcare to finance and more. In fact
IoT has become one of the most important technologies of everyday life
and will continue to gain traction in the coming years as more
businesses realise the potential such devices have to keep them
competitive.
The success of the IoT so far, both as a concept and in practice, can
at least in part be put down to the fact it has taken off across
numerous business verticals, is being incorporated at a base-level in
emerging technologies like autonomous vehicles, and has rapidly made
its presence felt in the consumer space too. While it may have started
out in manufacturing and with a few extremely expensive fridges, IoT
is firmly ensconced across the board.
What exactly is IoT?
IoT (Internet of Things) is a fairly wide-ranging definition,
essentially covering any device that is capable of communicating with
other devices over the internet. We have so far seen two major
applications of IoT, those in the consumer space and those in industry.
For consumers, IoT devices tend to have simple functions. For example,
a home may contain a smart TV, itself an IoT device, connected to a
mobile phone to be used as a remote. Or a smart speaker, such as the
Amazon Echo, may be synced to home`s heating system to control
temperature through voice commands.
Within industry, the principles are the same, only on a much larger
scale. The world`s busiest shipping lanes are now managed by IoT
devices, with remote sensors automatically logging cargo and syncing
the data from a port to a central hub.
However, the scope of IoT is widening all the time, as almost every
device imaginable is becoming `connected` in some way.
The smart-home assistant is one of the most recognisable and widely
used IoT devices, and despite it being a relatively new concept on the
consumer stage, there are now dozens of products available on the
market. While companies like Amazon and Google were among the first to
popularise the tech, traditional speaker manufacturers have now jumped
on the ever prevalent tech trend.
Why is IoT so important?
It`s somewhat inevitable that with the growing availability of faster
and more reliable broadband, devices will soon come with the ability
to connect to WiFi as standard. The IoT is already beginning to shape
the way we manage our daily routines; cars are able to sync with
calendars to track appointments and plan best routes, and smart
assistances have transformed shopping into a conversation.
Yet by far the most compelling application of IoT can be found within
industry, where AI is revolutionising the way we do business. Smart
cities are helping us to cut down on waste and energy consumption,
while manufacturers are now able to use connected machines that
automate repair call outs. Connected sensors are now even seeing use
in farming, where they are helping to monitor crop and cattle yields
and predict growth patterns.
Is IoT safe?
No connected device is inherently safe, whether it’s a desktop
computer, smartphone or smart thermostat and with more and more every
day appliences and obscuer objects getting connected, the oppotunity
for hackers is growing. But, in the IoT, there are certain extra
difficulties.
Connected devices run the risk of creating a security nightmare. Some
devices rely on large bandwidths for the transfer of video, such as
connected security cameras, and this has drawn the attention of
cyber-criminals. Compromised IoT networks have singlehandedly fueled
some of the largest DDoS attacks in history, knocking websites and
services offline around the world.
Business customers tend to be savvier about protecting data, but for
consumers, security is often sidelined in favour of flashy features.
Internet security in the home has yet to catch up with the pace of IoT
â€` standard routers are simply too easy to crack and provide little
indication that a device may be compromised.
The security industry is also somewhat lagging in this area â€` while
there`s plenty of anti-malware and firewall software and systems
available to be applied on traditional endpoints like computers,
tablets and smartphones, or defending a network perimeter, there`s not
really any equivalent for most IoT devices.
There`s also the question of so-called `headless devices`. For these,
there`s sometimes no way to change the default username and password,
let alone think about installing any security software on them.
What lies ahead for IoT?
The possibilities for IoT are endless, but it will be some time yet
before we truly understand its effect on our lives and the economy.
For it to really take off, we need the rest of the technology industry
to catch up. Management tools, bespoke IoT operating systems, and
communication standards all still need to be properly developed. Right
now, we are still in the process of figuring out how best to use the
technology.