IoT - What is it?

IoT is the acronym for "Internet of Things" which is a network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators, and network connectivity which enables these objects to connect and exchange data. Each thing is uniquely identifiable through its embedded computing system but is able to inter-operate within the existing Internet infrastructure.

What does that actually mean and why the excitement? Imagine your an office manager and one of your weekly duties is to ensure you have enough ink cartridges in stock. Your time is invested in checking each printer to ensure proper levels of ink. Check supply of cartridges and ensure you have all necessary printer models covered. Next you spend time on ordering and paying for the required amount of ink for your office. Lets say this task consumes roughly 1 hour a week to accomplish, x's 52 weeks = 52 hours or just over 2 days a year. Doesn't sound like much but what about other items that need to be replenished? Certainly you can see how this can add up.

Now, imagine this: Your printer is part of the IoT and linked to your network and database. Your printer knows it's running low on ink and that to operate and function properly, it needs to place an order of ink to be delivered prior to running out. Your printer places an order and pays for it, all without your involvement.

The list of actions that can be removed from an individual is almost limitless and can reach far beyond an office environment. You car is running low on gas, you drive to the nearest fill station. The automated station inserts the pump and begins filling your tank. Your car then pays for the gas all without you leaving your vehicle or the requirement of a credit/debit card.

These payments are at the source of "Crypto-Currency" and will become a normal mode of payment. Without getting into blockchains and digital ledgers, the money will be debited out of your account via your printer or vehicle and receipted properly without your involvement.

With IoT in it's infancy, it's exciting to see how this is intergrated into our daily lives. Your refrigerator ordering a milk or cheese delivery when it realizes your low. Your house paying your electric and water bill. The possibilities are endless and I for one look forward to the day I don't have to leave my car when raining to fill my tank.