The Global Impact of the Internet of Things (IoT) – Now and in the Future

Just when you had your mind wrapped around the phrase Internet of Things, or “IoT,” a new term enters the vernacular of smart home enthusiasts. At the opening keynote session last week at the Custom Electronics Design and Installation Association (CEDIA) Expo 2017, in San Diego, technologist and futurist Dave Evans spoke of IoIT. That additional “I” stands for Intelligent, and the co-founder and CTO of Stringify painted a very compelling picture of how smart devices are quickly moving from simply being connected to having containing the processing power to profoundly change not only how we live in our homes, but how we function in society and the world around us.

Evans’ presentation was packed with interesting and sometimes head-scratching facts and statistics, as well as several remarkable prognostications that portrayed technology as a hero to some of the world’s biggest issues: global warming, overpopulation, depletion of natural resources, etc. “The Internet of Intelligent Things will address some of the world’s most pressing challenges,” Evans said.  It all pointed to one main fact: Technology (storage, data, processing power) is experiencing expotential growth, which will have huge implications on IoT—namely, the addition of word “Intelligent” to the acronym.

What Evans predicts is that smart devices will become highly intelligent as microprocessors become increasingly smaller, less expensive, and more powerful. No bigger than a grain of rice, these super-chips will give IoT devices the intelligence to function as IoIT components where they are able to hear, speak, analyze and react autonomously. In essence the home becomes a living, breathing thing managed and controlled by sophisticated IoIT devices.

Here are some compelling statistics shared by Evans:

• 100 new things are added to the Internet every second
• 27 billion things will be connected to the Internet by 2020
• Technology (i.e., phones, computers) shrinks 100 fold in 3D volume every decade
• 5G will be available by 2020 and will allow users to stream 200 video sessions to a single handheld device at once
• Broadband speed increases 2.7x each year
• By 2022 video will account for 75 percent of mobile traffic

“More impressive than the numbers, however, are the types of Things that are being developed,” Evans continued. IoIT will extend way beyond the home, and used for a wide variety of purposes, from monitoring the well-being of a herd of cattle and reducing waste in food production and consumption, to providing at-home dental checkups and minimizing the amount of trash produced in cities.

Evans believes that IoIT will touch every part of our lives in the near future—both inside and outside the home—and stands to have huge implications on society and the entire planet.

 

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source https://www.electronichouse.com/home-security/the-global-impact-of-the-internet-of-things-iot-now-and-in-the-future/