Business Finance - Management Assignment 10

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INST560, Internet of Things (IoT)

Lecture 1: Winter 2023

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Introduction to Internet of Things Basics

Professor Aliakbar Jalali [email protected]

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Overview

What Is the Internet of Things (IoT)? 

Characteristics of the Internet of Things

Introduction to IoT and Digital Transformation

Definition and Concept of the IoT

Why we use IoT?

The History of IoT 

IoT Market

Some of the IoT types

What is the Future of IoT?

IoT Job Opportunities

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Introduction

The Internet of Things (IoT) is important because it allows for the connection and communication of a vast array of devices, systems, and appliances over the internet.

This connectivity enables a wide range of applications and services that can improve efficiency, convenience, and quality of life.

The IoT has the potential to revolutionize the way we live and work by creating new opportunities for automation, optimization, and innovation.

It is being widely adopted in a variety of industries, including manufacturing, healthcare, transportation, and retail, as well as in personal and home applications.

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Introduction

The IoT is still a relatively new technology, and it is constantly evolving as new devices, technologies, and applications are developed.

As such, it is expected to continue to grow and develop in the coming years, with many experts predicting that the IoT will become an integral part of our daily lives soon.

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Introduction

The Internet of Things (IoT) was originally most interesting to business and industrial development, where its usage is often referred to as machine-to-machine (M2M), but the focus has shifted on filling our homes and workplaces with smart devices, bringing benefits to almost everyone.

Number of connected IoT devices growing 18% to 14.4 billion globally

The previous estimate for 2021 was 12.3 billion connected IoT devices; the previous forecast for 2025 was 27.1 billion connected IoT devices

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Introduction

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Introduction

Today over 26 billion people, systems, and physical objects are connected and share data seamlessly over the Internet – and it’s rapidly changing our world.

Researchers estimate that there will be 38.6 billion IoT devices connected to the internet in 2025, and 50 billion by 2030. That’s 190 million new connected devices every month!

The Internet of Things (IoT) is a fast-growing area of technology, with new companies, products, and job opportunities springing up all over the world.

IoT, along with emerging technologies such as data analytics and artificial intelligence, metaverse and cybersecurity, are digitally transforming industries and expanding career opportunities.

By learning IoT skills you can transform any business in any industry, from manufacturing to environmental conservation.

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What is the Internet of Things (IoT)?

The IoT refers to a vast number of “things” that are connected to the internet so they can share data with other things, people, IoT applications, connected devices, industrial machines and more.

The promise of the Internet of things brings many new business predictions.

The Internet of Things is an emerging topic of technical, social, economic and political significance.

It also presents significant challenges and opportunities ranging from technology architectural choices to security concerns.

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What is the Internet of Things (IoT)?

If you have any technology in your home or car or a smartphone in your hand for using to stay connected to family and friends, you have already used IoT.

Your smartphone is the center of your own network, and your network is part of the IoT.

But the IoT is so much more!

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Visit this Video in YouTube.

How Internet of things will change your life

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What is the Internet of Things (IoT)?

Did you know that farmers can put sensors on their crops that tell them when to water, how much water is needed, and when to harvest?

With this information, farmers can get the best quality and quantity from their crops. Coal miners can place sensors in a mine that detect tiny amounts of dangerous gases. This information saves lives.

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What is the Internet of Things (IoT)?

Automobile insurance companies can offer drivers lower rates in exchange for access to their driving data. This allows for fairer and more accurate pricing and increases profits while lowering costs.

The IoT is about data. The IoT is about digitizing aspects of our lives, our businesses, and our governments to provide actionable insights into how lives can be saved, efficiencies can be created, and communities can be improved. Maybe you would like a career in the IoT.

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What is the Internet of Things (IoT)?

There are already refrigerators that can tell your connected device that the supply of milk is getting low and smart homes where you can tell your home system to make coffee.

In the future that is not very far away, where everything is connected, we should know what IoT is?

IoT connections means how we create networks of things. But what do we really mean by ‘IoT networks? We know about social network, the power grid in our city or town.

The internet is a network of networks, and some of those networks are made up of many things.

Those networks are what we call the IoT.

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What is the Internet of Things (IoT)?

Artificial intelligence (AI), virtual reality (VR), and the Internet of Things (IoT) are three emerging technologies that are being used in a variety of applications and industries.

VR-enabled IoT: VR can be used to remotely control and monitor IoT devices and systems, allowing for more efficient and effective management of these systems.

IoT-powered AI: The vast amount of data collected by IoT devices can be used to train and improve AI algorithms, leading to more intelligent and sophisticated AI systems.

AI-powered IoT: AI can be used to optimize the performance and operation of IoT devices and systems, leading to increased efficiency and productivity.

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Why IoT is an important subject today!

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Why IoT is an important subject today!

Real-world Internet of Things examples range from a smart home that automatically adjusts heating and lighting to a smart factory that monitors industrial machines to look for problems, then automatically adjusts to avoid failures.

Internet-connected devices use built-in sensors to collect data and, in some cases, act on it.

IoT connected devices and machines can improve how we work and live.

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Why IoT is an important subject today!

Cars are more and more intelligent devices

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Some specific examples of how the IoT is important

Automation and control: The IoT allows devices to be automatically controlled and monitored remotely, which can save time and reduce the need for manual intervention.

Data collection and analysis: The IoT enables the collection and analysis of large amounts of data from connected devices, which can be used to optimize processes, improve decision-making, and identify trends and patterns.

Improved efficiency: The IoT can help organizations and individuals streamline their operations and reduce waste by automating tasks and optimizing resource use.

Enhanced customer experiences: The IoT can be used to provide personalized, real-time experiences for customers, such as using smart home devices or personalized recommendations from online retailers.

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Characteristics of the Internet of Things

The key characteristic of the IoT is that it allows for the automatic control and monitoring of these connected devices, as well as the collection and analysis of large amounts of data from them.

This connectivity enables a wide range of applications and services that can improve efficiency, convenience, and quality of life.

The most key characteristics of the Internet of Things (IoT) include Connectivity, Automation, Data collection and analysis, Interoperability, Scalability and Security.

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Characteristics of the Internet of Things

Connectivity Connectivity is an important requirement of the IoT infrastructure.

Things of IoT should be connected to the IoT infrastructure.

Anyone, anywhere, anytime can connect, this should be always guaranteed.

For example, connection between people through internet devices like mobile phones ,and other gadgets, also connection between Internet devices such as routers, gateways, sensors, etc.                              

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Characteristics of the Internet of Things

Intelligence and Identity

The extraction of knowledge from the generated data is very important.

For example, a sensor generates data, but that data will only be useful if it is interpreted properly.

Each IoT device has a unique identity.

This identification is helpful in tracking the equipment and at times for querying its status.

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Characteristics of the Internet of Things

Scalability  The number of elements connected to the IoT zone is increasing day by day.

Hence, an IoT setup should be capable of handling the massive expansion.

The data generated as an outcome is enormous, and it should be handled appropriately.

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Characteristics of the Internet of Things

Dynamic and Self-Adapting (Complexity)

IoT devices should dynamically adapt themselves to the changing contexts and scenarios.  

Assume a camera meant for the surveillance.

It should be adaptable to work in different conditions and different light situations (morning, afternoon, night).

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Characteristics of the Internet of Things

Architecture

IoT architecture cannot be homogeneous in nature. It should be hybrid, supporting different manufacturers products to function in the IoT network.

IoT is not owned by anyone engineering branch.

IoT is a reality when multiple domains come together.

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Characteristics of the Internet of Things

Safety 

There is a danger of the sensitive personal details of the users getting compromised when all his/her devices are connected to the internet.

This can cause a loss to the user.

Hence, data security is the major challenge. Besides, the equipment involved is huge.

IoT networks may also be at the risk. Therefore, equipment safety is also critical.

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Characteristics of the Internet of Things

Self Configuring

This is one of the most important characteristics of IoT.

IoT devices can upgrade their software in accordance with requirements with a minimum of user participation.

Additionally, they can set up the network, allowing for the addition of new devices to an already-existing network.

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Internet of Things (IoT) Achievement

Digital Transformation: Explain the meaning and impact of digital transformation. It is important to understand that most people born since the 1990s, will have grown up in a primarily digital world.

Programming Things: How to apply basic programming to support IoT devices.

Data Insights: Explain how data provides value to digital business and society.

Automating Things: Explain the benefits of automation with machine learning and artificial intelligence in the digital world.

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Realize IoT State

Everything is Connected

The rapid growth of digital networks is transforming our lives and industries - from connected appliances to smart factory equipment - and creating new economic opportunities.

Everything Becomes Programmable

Basic programming concepts to support IoT devices, including flowcharts, visual programming in Blockly, and coding in the Python programming language.

Everything Generates Data

Data is extremely valuable to digital business and society. The characteristics of Big Data, including how fast it is growing, different types of data, and storage issues.

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Realize IoT State

Everything Can be Automated

IoT is automating tasks that previously required human intervention. Smart technology and artificial intelligence are transforming business and society.

Everything Needs to be Secured

The digital world has opened the floodgates for data gathering. It can be used for good purposes, but also increases risks for our privacy, identity theft, and corporate espionage.

Educational and Business Opportunities

Learn about job opportunities for professionals with IoT skills.

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How IoT devices to be connected?

Modern digital networks make all devices (things) to be connected.

The world is quickly being covered with networks that allow digital devices to interconnect and transmit.

Think of the mesh of networks like a digital skin surrounding the planet.

With this digital skin, mobile devices, electronic sensors, electronic measuring devices, medical devices, and gauges are all able to connect.

They monitor, communicate, evaluate, and in some cases automatically adjust to the data that is being collected and transmitted.

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IoT and Digitization Transform

In our world today, there are more smart devices than there are people.

A growing number of people are connected to the internet, in one way or another, 24 hours a day.

An ever-increasing number of people have, and rely on, three, four, or more smart devices.

These might include smartphones, exercise and health monitors, e-readers, and tablets.

It is forecast that on average, there will be 3.4 smart devices or connections for every person on earth.

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IoT and Digitization Transform

IoT systems contribute to the environmental controls, retail, transportation, healthcare, and agriculture industries among many others.

According to Statista, the number of IoT devices that are in use across all relevant industries is forecast to grow to more than eight billion by 2030.

As for consumers, important areas of growth are internet and digital media devices, which includes smartphones.

This area is also predicted to grow to more than eight billion by 2030.

Other applications with more than one million connected devices are connected and autonomous vehicles, IT infrastructure, asset management, and electric utility smart grid.

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IoT and Digitization Transform

As society embraces these digital devices, as digital networks continue to grow around the world, and as the economic benefits of digitization continue to grow, we are seeing a digital transformation.

Digital transformation is the application of digital technology to provide the stage for business and industry to innovate.

This digital innovation is now being applied to every aspect of human society.

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Definition and concept of the IoT

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Defining the Internet of Things isn’t easy

There is no single, definitive definition of the Internet of Things (IoT), as the term encompasses a wide range of technologies, devices, and applications.

However, a common definition of the IoT is that it refers to the connectivity and communication of a vast array of devices, systems, and appliances over the internet.

These connected devices can include everything from smartphones and laptops to smart appliances, industrial machinery, and wearable devices.

Some definitions focus on the exponential growth of sensors, excluding smartphones, tablets and desktop computers, while others only consider devices with an IP address.

Whether these definitions and forecasts are accurate or not, it can be downright confusing.

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Definition of IoT by top IoT Companies

Top Internet of Things (IoT) companies in 2022.

iTechArt. Founded: 2002

Cisco. Founded: 1984

Huawei. Founded: 1987

ARM IoT Security. Founded:1990

Bosch IoT Suite. Founded: 1906

SAP. Founded: 1972

Siemens IoT Analytics. Founded: 1847

IBM. Founded: 1911

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Definition of IoT by Amazon

Amazon is a technology company that has been involved in the development and deployment of the Internet of Things (IoT).

Amazon has defined the IoT as "the interconnection of uniquely identifiable embedded computing devices within the existing Internet infrastructure.“

According to Amazon, the IoT has the potential to revolutionize various industries and create new business opportunities by enabling the "smart" automation of devices and systems.

Amazon has also emphasized the importance of security in the IoT, as the large number of connected devices and the sensitive nature of the data they collect make them vulnerable to cyber attacks.

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Definition of IoT by Cisco

Cisco is a leading technology company that has been involved in the development and deployment of the Internet of Things (IoT).

Cisco has defined the IoT as "the network of physical objects that contain embedded technology to communicate and sense or interact with their internal states or the external environment.“

According to Cisco, the IoT has the potential to transform various industries and create new business opportunities by enabling "smart" products and services that can improve efficiency, convenience, and quality of life.

Cisco has also emphasized the importance of security in the IoT, as the large number of connected devices and the sensitive nature of the data they collect make them vulnerable to cyber attacks.

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Definition of IoT by Microsoft

Microsoft is a technology company that has been involved in the development and deployment of the Internet of Things (IoT).

Microsoft has defined the IoT as "the interconnected network of physical objects that are embedded with sensors, software, and network connectivity, allowing them to collect and exchange data.“

Overall, Microsoft's definition of the IoT emphasizes the role of sensors, software, and network connectivity in enabling the IoT, as well as the potential benefits and challenges of the IoT for businesses and society.

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Definition of IoT by IBM

IBM has defined the Internet of Things (IoT) as a network of connected devices, sensors, and other physical objects that are able to collect and exchange data using the Internet.

These devices are embedded with sensors and software that allow them to communicate with each other and with external systems, enabling them to sense, act, and interact with their surroundings in various ways.

The IoT can include a wide range of devices and systems, including smart homes, connected cars, industrial equipment, and medical devices, among others.

IBM has also highlighted the importance of using data analytics and artificial intelligence (AI) to extract valuable insights from the data generated by these connected devices, which can help organizations to improve their operations and make better decisions.

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Definition of IoT by SAS

SAS, a software company that provides analytics and data management solutions, has defined the Internet of Things (IoT) as a network of interconnected devices that are able to communicate with each other and with external systems using the Internet.

These devices are equipped with sensors, software, and other technologies that allow them to collect and exchange data, enabling them to sense and interact with their surroundings in various ways.

The IoT can include a wide range of devices, including smartphones, smart homes, connected cars, industrial equipment, and medical devices, among others.

SAS has emphasized the role of data analytics and artificial intelligence (AI) in helping organizations to extract valuable insights from the data generated by these connected devices, which can enable them to improve their operations, make better decisions, and drive innovation.

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Definition of IoT by IEEE

IEEE-SA INTERNET OF THINGS ECOSYSTEM STUDY:

The Internet of Things (IoT) is a system consisting of networks of sensors, actuators, and smart objects whose purpose is to interconnect “all” things, including everyday and industrial objects, in such a way as to make them intelligent, , and more capable of interacting with humans and each other.

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Different ways to view the IoT

As a technology: The IoT is a technological system that involves the connectivity and communication of a vast array of devices, systems, and appliances over the internet.

As a business opportunity: The IoT represents a significant business opportunity, as it enables the development and deployment of a wide range of products and services that can improve efficiency, convenience, and quality of life.

As a social phenomenon: The IoT is a social phenomenon that is changing the way we live and work, creating new opportunities and challenges for individuals, organizations, and society as a whole.

As a security challenge: The IoT involves the connection of a large number of devices and systems, making it vulnerable to cyber attacks. Ensuring the security of the IoT is a key concern for organizations and individuals.

As an environmental issue: The increasing number of connected devices and the energy required to power and operate them raises concerns about their impact on the environment.

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Some key differences between the traditional Internet and the IoT

Scale: The IoT involves the connection of a much larger number of devices and systems than the traditional Internet, potentially numbering in the billions or even trillions.

Diversity of devices: The IoT connects a wide range of devices and systems, including not just computers and smartphones, but also industrial machinery, smart appliances, and wearable devices.

Automatic control and monitoring: The IoT allows for the automatic control and monitoring of connected devices, reducing the need for manual intervention.

Data collection and analysis: The IoT enables the collection and analysis of large amounts of data from connected devices, which can be used to optimize processes, improve decision-making, and identify trends and patterns.

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Why we use IoT?

All things become data

Everything becomes quantifiable

Everything becomes programmable

Everything becomes social

Every company becomes a software

The world of virtual become real!

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Why we use IoT?

We want automation!

We want receive more data!

We want to control every things!

We want data on real time!

We want to make things faster!

IoT brings most of the latest technologies.

Converged, these technologies will have major impact.

More!

DATA is POWER!

Future money=Digital money! (why?)

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Why we use IoT?

There are many reasons why organizations and individuals use the Internet of Things (IoT).

Improved efficiency: IoT devices can automate tasks and processes, which can help organizations to streamline their operations and reduce costs. For example, smart thermostats can optimize energy use in buildings, and connected transportation systems can improve traffic flow and reduce fuel consumption.

Enhanced security: IoT devices can be equipped with sensors and other technologies that can detect and alert users to potential security threats. For example, smart security systems can use cameras and other sensors to detect intrusions and alert authorities.

Greater convenience: IoT devices can make our lives easier and more convenient by automating tasks and providing access to information and services on demand. For example, smart home systems can control lighting, heating, and other appliances remotely, and connected cars can provide real-time traffic updates and navigation assistance.

Increased productivity: IoT devices can help individuals and organizations to be more productive by providing access to real-time information and enabling them to collaborate more effectively. For example, connected industrial equipment can provide real-time data on production processes, and remote monitoring systems can allow healthcare providers to monitor patients remotely.

New opportunities for innovation: IoT can create new opportunities for innovation by providing organizations with access to vast amounts of data that can be used to develop new products and services. For example, connected transportation systems can generate data that can be used to improve the design of roads and traffic systems, and connected healthcare systems can generate data that can be used to develop new treatments and therapies.

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History of the Internet of Things

The concept of the Internet of Things (IoT) has its roots in the early days of the Internet, when researchers and engineers began exploring the use of interconnected devices and systems to collect and exchange data.

One of the early visions of the IoT was proposed by Kevin Ashton, a British technology pioneer, in 1999. Ashton coined the term "Internet of Things" to describe a network of everyday objects that were connected to the Internet and able to communicate with each other.

Over the following decades, the development of the Internet and advances in wireless and sensor technologies paved the way for the widespread deployment of IoT devices. In the early 2000s, the deployment of radio-frequency identification (RFID) tags and sensors in supply chain management and logistics systems marked the beginning of the widespread adoption of IoT in industry.

Since then, the IoT has continued to evolve and grow, with the deployment of a wide range of connected devices in various sectors, including healthcare, transportation, manufacturing, and energy. The development of low-cost sensors and the proliferation of smartphones and other connected devices have also contributed to the growth of the IoT.

Today, the IoT is considered to be a major driving force behind the digital transformation of businesses and society, with the potential to revolutionize the way we live and work.

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History of the Internet of Things

While the term Internet of Things was originated by Kevin Ashton in 1999, but the idea has been around for much longer and dates back to the early 80s with a  Coca-Cola machine at Carnegie Mellon University. 

A group of students from the university designed a system to get their campus Coca-Cola vending machine to report on its contents, so they could avoid the trouble of having to check if the machine was out of Coke. Aside from the inventory report, they were also able to make the machines let them know whether newly loaded drinks were cold or not.   

Later, In 1990, John Romkey  connected a toaster to the internet for the first time. Not long after, another group of students at the University of Cambridge used a web camera to monitor the amount of coffee available in their computer labs. 

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History of the Internet of Things

Internet of Things a phrase that was first used in 1999 by Kevin Ashton.

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History of the Internet of Things

Kevin Ashton is one of the founders of the Auto-ID Center at MIT.

Ashton was part of a team that discovered how to link objects to the internet through an RFID tag.

He first used the phrase “Internet of Things” in a 1999 presentation – and it has stuck around ever since.

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History of the IoT

Early example, 1982, Coke machine at Carnegie Mellon University was connected to internet: report its inventory and temperature

First IoT device in 1982!

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Coca-Cola tests Wi-Fi vending machines

Coca-Cola tests Wi-Fi vending machines for deeper smartphone engagements.

The goal of the new vending machine program is to provide free Wi-Fi to nearby students to increase their knowledge through online research as well as to entrepreneurs and small business owners so they can manage some of their business aspects online. 

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History of the Internet of Things

Then, finally, in 1999, the term Internet of Things  was founded by Kevin Ashton during his presentation for Procter & Gamble, a multinational consumer goods corporation. When working there as a brand manager, Ashton had been assigned to help launch a line of cosmetics. He noticed that a specific shade of brown lipstick always seemed to be sold out, although many employees' part of the supply chain would report that color as available in the warehouse. So, Ashton gave an “Internet of Things” presentation and suggested that each product has a radio frequency identification (RFID) tag that allows the identification and tracking of specific objects throughout the supply chain. 

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History of the IoT

First Article about IoT in 2004 from MIT researchers called I0 (Internet 0).

In 2005, our important technologies of the internet of things was proposed in WSIS conference.

In 2008, first international conference of internet of things: The IOT 2008 was held at Zurich.

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History of the Internet of Things

By the late 2000s to early 2010s, organizations around the world were starting to become really excited about the Internet of Things – similar to how they’re getting enthusiastic about AI and machine learning today. The International Business Machine (IBM) corporation started to work on a  Smarter Planet programMcKinsey began publishing studies on the condition of the Internet of Things technology, and in 2011,  Cisco announced that the IoT was “born” around 2008 and 2009 when more machines or objects were linked to the web than there were people on the earth. 

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IoT Market

The IoT (Internet of Things) market is expected to continue to grow significantly in the coming years.

It is difficult to predict exactly what the IoT market will look like in 2030, but it is likely that the market will continue to expand and evolve as more and more devices become connected to the internet and as new technologies and applications are developed.

Some of the key drivers of the IoT market are expected to include the increasing adoption of IoT devices in a variety of industries, such as manufacturing, healthcare, and transportation, as well as the growing demand for connected devices in the consumer market.

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IoT Market

In addition, the increasing availability of high-speed internet and the proliferation of 5G networks are expected to support the growth of the IoT market by enabling faster and more reliable connections between devices.

Other trends that are expected to shape the IoT market in the coming years include the increasing use of artificial intelligence (AI) and machine learning in IoT applications, the growing importance of data privacy and security, and the development of new technologies such as edge computing and low-power wide-area networks (LPWAN).

Overall, it is likely that the IoT market will continue to be a dynamic and rapidly growing market in the coming years, with a wide range of new technologies and applications being developed and adopted.

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IoT Market

The Marketing of the Internet of Things Is Far Bigger Than Anyone Realizes

IoT is going to make everything in our lives from streetlights to cities “smart.”

The IoT market has made oversize by:

Growing potential of the related Technologies.

Growing potential in various applications.

Growing use by industries.

Growing use of advanced analytics, machine learning, artificial intelligent and innovative knowledges to make sense of amazing volumes of data from connected devices.

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https://www.wired.com/insights/2014/11/the-internet-of-things-bigger/

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Market estimates of IoT

The global internet of things (IoT) market is projected to grow from $478.36 billion in 2022 to $2,465.26 billion by 2029, at a CAGR of 26.4% in forecast period

Read More at:

https://www.fortunebusinessinsights.com/industry-reports/internet-of-things-iot-market-100307

https://www.enterprise-cio.com/news/2018/jan/04/roundup-of-internet-of-things-forecasts-and-market-estimates-2018/

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Economy of IoT

The economy of the Internet of Things (IoT) refers to the economic impact and opportunities created by the proliferation of connected devices and the data and services they generate.

The IoT encompasses a wide range of industries and sectors, including manufacturing, transportation, healthcare, and consumer goods, among others.

The IoT has the potential to drive economic growth and productivity by enabling organizations to collect and analyze data from connected devices, which can be used to optimize processes, improve efficiency, and reduce costs.

The IoT can also create new business opportunities by enabling the development of new products and services that leverage the data and connectivity provided by connected devices.

The economy of the IoT is also supported by a range of enabling technologies and infrastructure, including broadband networks, cloud computing, and data analytics.

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Economy of IoP

The economy of the Internet of People (IoP) refers to the economic impact and opportunities created by the increasing connectivity of individuals and the data and services they generate.

The IoP encompasses a wide range of industries and sectors, including social media, online commerce, and digital entertainment, among others.

Like the IoT, the IoP has the potential to drive economic growth and productivity by enabling organizations to collect and analyze data from connected individuals, which can be used to optimize processes, improve efficiency, and reduce costs.

The IoP can also create new business opportunities by enabling the development of new products and services that leverage the data and connectivity provided by connected individuals.

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Economy of the IoP and IoT

Internet Revolution

20% of economy is related to Internet of People (IoP)

New Digital Revolution

80% of the economy is related to Internet of Things (IoT), Mostly Industrial IoT (IIoT)

Overall, both the IoT and the IoP are expected to continue to drive economic growth and create new opportunities in the coming years as more devices and individuals become connected and generate data.

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Few Examples of Applications of the IoT

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Few Examples of Applications of the IoT

Smart homes: IoT devices can be used to automate and control various aspects of a home, such as lighting, heating, and security. For example, a smart thermostat can adjust the temperature of a home based on the preferences of the occupants and the weather outside.

Smart cities: IoT sensors and devices can be used to improve the efficiency and sustainability of city services, such as waste management, transportation, and energy management. For example, sensors on streetlights can detect when a light is not working and automatically send a notification to maintenance staff.

Industrial automation: IoT sensors and devices can be used to automate and optimize industrial processes, such as manufacturing and logistics. For example, sensors on machinery can detect when maintenance is needed and send a notification to maintenance staff.

Supply chain management: IoT sensors and devices can be used to track and monitor the movement of goods in a supply chain, allowing organizations to optimize their logistics and reduce costs. For example, sensors on shipping containers can track their location and provide real-time updates on their status.

Healthcare: IoT devices can be used to monitor the health of patients and track the effectiveness of treatments. For example, a wearable device can track a patient's vital signs and alert healthcare providers if there are any changes that need to be addressed.

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Few Examples of Applications of the IoT

Depending on their usage, we divide IoT devices into four main categories: consumer, organizational, industrial, and infrastructure applications.  

The consumer IoT refers to the dozens of personal devices, including smartphones, wearable technology, fashion products, and an increasing range of household appliances, that are linked to the internet, continuously gathering and distributing information. 

In organizational settings, IoT is mostly widespread in the medical and facilities management field. Specifically, IoT devices are being used for remote monitoring and for creating emergency notification systems for people, buildings, and assets.

The COVID-19 pandemic has also urged the use of IoT for smart cleaning and smart occupancy so that workplaces of all types can return to the office with the help of technology. 

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Few Examples of Applications of the IoT

Industrial IoT (IIoT) brings devices, clouds, analytics, and people together to advance the execution and productivity of industrial processes. More specifically industrial IoT (IIoT) enables solutions such as equipment monitoring, predictive maintenance, condition monitoring, error detection, and much more. 

Last, infrastructure IoT appliances enable monitoring and controlling operations of sustainable urban and rural infrastructures like bridges, railway tracks, and on and offshore wind farms.

These technologies help the construction industry by cost-saving, time optimization, better quality workday, paperless workflow, and an increase in productivity.

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Some of the IoT types

M2M: Machine to Machine is direct communication between devices using any communications channel, including wired and wireless

IoT: Inter-networking of physical devices, and other items embedded with electronics, software, sensors, actuators, and network connectivity which enable these objects to collect and exchange data.

IoE: The Internet of Everything is the intelligent connection of people, process, data and things.

IIoT: The Industrial Internet of Things (IIoT) is the use of Internet of Things (IoT) technologies in manufacturing.

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Some of the IoT types

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IoTE and EIoT

Internet of Things for Education (IoTE)

IoT devices give students better access to everything from learning materials to communication channels, and they give teachers the ability to measure student learning progress in real-time.

Enterprises Internet of Things for (EIoT)

Enterprise Internet of Things is the next advancement in technology that enables physical 'things' with embedded computing devices (tiny computers) to participate in business processes for reducing manual work and increasing overall business efficiency. ... The real value of enterprise IoT comes from data.

https://builtin.com/internet-things/iot-education-examples

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What is M2M

Machine-to-machine (M2M) communication refers to the automated exchange of data between two or more devices or machines. M2M communication enables devices to communicate with each other and exchange data without the need for human intervention.

M2M communication is often used in the context of the Internet of Things (IoT), where connected devices are able to communicate and exchange data over a network. M2M communication can be used to support a wide range of applications, including industrial automation, supply chain management, and healthcare, among others.

In M2M communication, devices are equipped with sensors and other hardware that allow them to collect and transmit data. This data is then processed and analyzed by software systems, which can use it to perform a variety of tasks, such as optimizing processes, detecting problems, and triggering alerts.

M2M communication is often facilitated by wireless technologies, such as cellular networks and Wi-Fi, which allow devices to connect to the internet and exchange data over long distances. M2M communication can also be facilitated by wired technologies, such as Ethernet and USB, which allow devices to connect to each other and exchange data over shorter distances.

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M2M VS IoT: Know the Difference

Machine to Machine is direct communication between devices using any communications channel, including wired and wireless.

Both M2M and IoT terms have been interchanged mistakably often.

M2M and IoT are not synonymous.

They are different solutions for the enterprise.

M2M and IoT primarily vary in terms of how they achieve connectivity, what they aim to connect, how scalable they are, and how data is utilized.

In summary, M2M communication is a specific type of communication that occurs between two or more devices or machines, while the IoT refers to the larger network of connected devices that communicate and exchange data over the internet. M2M communication is a key enabler of the IoT, as it allows connected devices to communicate and exchange data with each other.

https://www.peerbits.com/blog/difference-between-m2m-and-iot.html

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What Is Internet of Everything (IoE)?

The Internet of Everything (IoE) is a term used to describe the interconnected network of people, processes, data, and things that are connected to the internet and able to communicate and exchange data with each other.

The IoE encompasses a wide range of industries and sectors, including manufacturing, transportation, healthcare, and consumer goods, among others.

The IoE has the potential to transform a wide range of industries and sectors by enabling the development of new products and services and by improving efficiency and productivity. For example, the IoE can be used to optimize supply chains, automate industrial processes, and monitor the health of patients, among other applications.

The IoE is supported by a range of enabling technologies and infrastructure, including broadband networks, cloud computing, and data analytics, which allow devices and systems to connect to the internet and exchange data with each other.

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What Is Internet of Everything (IoE)?

The IoE concept is based on the idea of all-round connectivity, intelligence and cognition.

It means that intelligent internet connections are not restricted by computers, tablets and smartphones (as used to be the case for the last couple of decades).

Any object can be equipped with digital features and connected to the common network of other objects, people and processes in order to generate valuable information, exchange it and facilitate relevant decision-making.

https://www.sam-solutions.com/blog/what-is-internet-of-everything-ioe/

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what is the IoE in simple terms?

The Internet of Everything is the connections between people, things, data and processes combined into a common interrelated system, the aim of which is to improve experiences and make smarter decisions.

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UoNA-ST560-Winter- 2023, Internet of Things (IoT)

Examples of Internet of Everything (IoE)

Municipality systems can implement smart water and electricity meters for residents and commercial organizations in order to monitor usage rates and make decisions concerning economy and cutting costs.

The manufacturing industry can implement sensors for predictive maintenance into production to monitor equipment parts that need to be fixed or replaced. This helps eliminate downtime and reduce the fixing costs.

Logistics and delivery companies can introduce sensors and smart devices on trucks to optimize delivery conditions and possible routing. Eventually, companies can improve end-user satisfaction.

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What is IIoT? The Industrial Internet of Things

The IIoT is part of a larger concept known as the Internet of Things (IoT).

The IIoT is a network of intelligent computers, devices, and objects that collect and share huge amounts of Industrial data.

https://inductiveautomation.com/resources/article/what-is-iiot

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Industrial IoT (IIoT)

Industrial Internet of Things (IIoT) refers to the use of connected devices, sensors, and other internet-enabled technologies in industrial settings, such as manufacturing plants, power plants, and oil and gas facilities. The IIoT allows for the integration of information and communication technology (ICT) with industrial systems and processes, enabling real-time data collection, analysis, and automation.

The goal of the IIoT is to improve efficiency, productivity, and safety by allowing for the monitoring and control of industrial processes and equipment remotely. This can be achieved using sensors, actuators, and other devices that can collect and transmit data over a network, as well as using software and analytics tools that can process and analyze the data in real-time.

The IIoT also has the potential to drive innovation and competitiveness by enabling the development of new products and services that can leverage the data and insights generated by the connected devices and systems. For example, the IIoT can enable the creation of new maintenance and repair services, as well as the development of customized and optimized production processes.

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UoNA-ST560-Winter- 2023, Internet of Things (IoT)

Industrial IoT (IIoT) Market Size

The global industrial IoT market size was estimated at USD 326.1 billion in 2021 and is expected to hit around USD 1742.8 billion by 2030 with a registered CAGR of 20.47% during the forecast period 2022 to 2030.

Key Takeaways: By end-use, the manufacturing segment has accounted 28.7% of total revenue share in 2021.

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IIoT – The 4th Industrial Revolution

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Size of IT, IoT and IIoT

www.stanford.edu/~gorin

IIoT

IT

IT

+

IoT

IT Is NOT IIoT

IT: Connected Low-cost end points devices!

IIoT: Connected Industrial High-cost Assets!

IoT is between IT and IIoT.

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IoT and Big Data

The Internet of Things Is Far Bigger Than Anyone Realizes IoT is going to make everything in our lives from streetlights to cities “smart.”

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IoT and Big Data

IoT technologies augmented with intelligent and big data analytics are expected to rapidly change the landscape of myriads of application domains ranging from health care to smart cities and industrial automations.

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Features of IoT

It is difficult to predict the exact future of the Internet of Things (IoT), as it is a rapidly evolving field that is influenced by a variety of factors, such as technological advances, regulatory developments, and market trends.

However, there are a few key trends and developments that are likely to shape the future of the IoT.

One key trend is the increasing integration of IoT devices with artificial intelligence (AI) and machine learning (ML) technologies.

This will allow IoT devices to process and analyze data in real-time, enabling them to make more informed decisions and respond to changing circumstances more intelligently.

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Features of IoT

Another trend is the growing importance of data privacy and security in the IoT.

As more devices are connected to the internet and collect and transmit data, there is an increasing risk of data breaches and cyber attacks.

To address this, there is a need for stronger security measures and greater regulatory oversight of the IoT.

A third trend is the increasing adoption of edge computing in the IoT.

Edge computing involves processing data and running applications on devices at the edge of the network, rather than in the cloud. This can help to reduce latency and improve the performance of IoT systems, as well as reducing the amount of data that needs to be transmitted over the network.

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Features of IoT

The future of the IoT is likely to be characterized by continued technological advances and the increasing integration of IoT devices and systems into a wide range of industries and applications.

The future IoT will be capable of connecting and communicating with almost all physical and virtual objects around us to the existing Internet.

The Internet of Things is a vision that entails connectivity among different physical and virtual objects in order to understand how the life would change when things, homes and cities become smart. 

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Future of IoT an Metaverse

The Internet of Things (IoT) and the metaverse are two emerging technologies that are likely to have a significant impact on society and the economy in the coming years.

While the IoT involves the connection of physical devices and systems to the internet, the metaverse refers to a virtual world or universe that is created and accessed through the internet.

One potential future development is the integration of the IoT and the metaverse.

This could involve the use of virtual and augmented reality technologies to create immersive, interactive experiences that are powered by data collected from connected devices in the physical world.

For example, an IoT-powered metaverse could allow users to experience virtual environments that are tailored to their individual preferences and needs, based on data collected from their connected devices.

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Future of IoT an Metaverse

Another possibility is the use of the IoT and the metaverse to create new types of products and services.

For example, the combination of these technologies could enable the creation of virtual reality-based training and education programs, or the development of new types of interactive entertainment experiences.

Overall, the future of the IoT and the metaverse is likely to be shaped by a range of technological, economic, and societal factors.

These technologies have the potential to transform how we live, work, and interact with the world around us, and it will be interesting to see how they evolve and intersect in the coming years.

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What is the Future of IoT?

Thus `smart Things are expected to exchange/process the sensed data, while reacting autonomously to the events with or without any human intervention and self configuring themselves.

3D Virtual Age will be a part of IoT!

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What is the Future of IoT?

We’re All Connected: IoT, Analytics and AI

Advanced analytics, including artificial intelligence (AI), is the way to harness value from the Internet of Things.

Data management, cloud and high-performance computing techniques help manage and analyze the influx of IoT data from Internet of Things sensors.

Insights from streaming analytics and AI underpin digital transformation efforts that result in better efficiency, convenience and security.

See how connected devices, analytics, AI and Metaverse on the Internet of Things can make our future world a better place to live.

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What is the Future of IoT?

With the ever-growing need for improvement and better accessibility, IoT estimates a dynamic future globally.

Introduction to 5G and Metaverse are proof of the oncoming bright future for IoT’s flexible and improved variants.

Assimilating the virtual world with reality through Metaverse is on its way, and IoT-based projects with source code are only a step away from joining hands to bring in digitally-driven physical devices.

Cellular IoT’s growth is another aspect market expects to see in the coming years to adopt remote monitoring across diverse fields, including agriculture and smart cities. 

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Is IoT the Future of Virtual Marketing?

https://www.timesunionmedia.com/blog/is-the-future-of-marketing-virtual/

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Virtual Marketing is the use of online or digital techniques to achieve strategic marketing and sales objectives without resorting to traditional in-person marketing strategies such as networking at live events, face-to-face meetings, seminars or trade shows.

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3D Virtual Marketing

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IoT Job Opportunities

There is a wide range of job opportunities on the Internet of Things (IoT) field:

IoT Developer: Develops software and applications for IoT devices and systems.

IoT Data Scientist: Analyzes and interprets data collected from IoT devices to identify trends and patterns.

IoT Project Manager: Manages the development and implementation of IoT projects, including coordinating the work of teams and ensuring projects are completed on time and within budget.

IoT Solution Architect: Designs and implements IoT solutions that meet the needs of an organization or industry.

IoT Security Engineer: Ensures the security of IoT systems and devices by designing and implementing security measures.

IoT Business Development Manager: Identifies and develops new business opportunities in the IoT field.

IoT Technical Support: Provides technical support and assistance to users of IoT devices and systems.

In addition to these specific job titles, there are also many other roles in the IoT field, including sales, marketing, and customer support positions.

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ways to introduce the Internet IoT into an organization

Identify the business or personal need for the IoT: Determine what problem the IoT can solve or what opportunity it can enable.

Conduct a feasibility study: Assess the technical, financial, and organizational feasibility of implementing an IoT solution.

Define the scope and goals of the IoT project: Determine the specific objectives and targets of the project and what needs to be done to achieve them.

Choose the right IoT technology: Select the hardware, software, and network infrastructure that will be used to connect devices and manage data.

Implement the IoT solution: Install the necessary hardware and software, configure the system, and test it to ensure it is working properly.

Deploy the IoT solution: Roll out the solution to the intended users and provide training and support as needed.

Monitor and maintain the IoT system: Regularly monitor the system to ensure it is functioning properly and make any necessary updates or repairs.

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Conclusion

The internet of things helps people live and work smarter, as well as gain complete control over their lives.

In addition to offering smart devices to automate homes, IoT is essential to business.

 IoT helps us Know the precise quantity of supplies or the air quality in your home, it can also provide more data that could not have previously been possible to collect easily.

The Marketing of the Internet of Things Is Far Bigger Than Anyone Realizes!

IoT is going to make everything in our lives from streetlights to cities “smart.”

IoT will be one important parts of Metaverse!

Defining the Internet of Things isn’t easy

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Reading references

Characteristics of the Internet of Things

https://www.geeksforgeeks.org/characteristics-of-internet-of-things/

Internet of Things is a revolutionary approach for future technology enhancement: a review

https://link.springer.com/content/pdf/10.1186/s40537-019-0268-2.pdf

FUTURE AND CHALLENGES OF INTERNET OF THINGS

https://aircconline.com/ijcsit/V10N2/10218ijcsit02.pdf

The Industrial Internet of Things: An Evolution to a Smart Manufacturing Enterprise

https://www.mhi.org/media/members/15373/131111777451441650.pdf

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