The Internet of Things (IoT) has reformed the digital world by connecting things that have the possibility to get connected. Its impact on IT, Retail, Financial, Automotive, Health, Agricultural, and other compelling sectors is innumerable and has proven records of transforming the way the businesses were functioning before. In fact, IoT has become the essential part of every aspect of our lives. Furthermore, it benefits businesses by enabling widespread automation and data exchange that continues to gain traction. Being a silver bullet to solve many IT and business issues, IoT unleashes the potential of connected devices/objects by harnessing the related things together and has made the technology to sway the world with the utmost connected intelligence.
Even though IoT has a longer history, it has been utilized to revolutionize various sector in the late 20th Century. Interconnected devices make it possible to receive and send data that activate the furtherance of solutions to the most typical IT problems. This generation has witnessed the evolution of IoT and its impact on automating and simplifying processes. Here are a few insights on how it impacts various sectors and how it enables automation.
Impacts of IoT in Varied Sectors
Many business leaders have experienced the magical impact of IoT on their ventures by improving operational efficiency, cost reduction, and adaptive insights while others are hoping to see the difference in the near future. Nevertheless, it has been prioritized as a “nice to have”, not a “must have”. By enabling businesses to take data-driven, informed decisions, IoT helps them improve productivity, process efficiency, cost reduction, and asset utilization via real-time insights and analytics. ALSO READ: IoT meet focuses on expanding startup ecosystem in India
Among other industries, transportation has higher potential to avail the benefits of IoT and make use of its proficiency to further and simplify the process and let them move connectedly. The automotive sector has been fueled up by IoT implementation as the sector has a bigger hope for the future. As connected cars being the dream of many global leaders of the sectors, it would have been a nightmare without IoT. While transportation being the top-most beneficiary, it uses IoT to the core to simplify and connect the scattered things around the sector. ALSO READ: New IoT bot ‘Reaper’ more destructive than Mirai: eScan
Meanwhile, in the health sector, it facilitates connected care networks by linking doctors and patients where the seamless service is possible with connected intelligence and improved efficiency. Connecting and integrating the medical network means greater life expectancy for humans. And agriculture is another sector that embraces IoT in a big way. It is expected that the agricultural sector will have 75 million IoT-enabled devices by 2020.
Besides many highly beneficial industries, the retail and energy sectors have also been transformed by the presence of IoT. With huge data collected by means of IoT-enabled devices, these sectors can have a clear picture of the future potential to proceed further with an upgraded business model. ALSO READ: ‘IoT.IN’ incubator program to nurture IOT-based startups launched
How does IoT enable automation?
IoT helps organizations automate processes that require a lot of manual works. By automating things around, it helps them save time, involve human resources in some trivial and important tasks, and make money through the smartest way of adopting IoT-enabled and IoT-connected devices. While adapting to this IoT-enabled environment, humans have got a greater opportunity to achieve what has been desired and further the business process efficiently and effectively by deploying the brilliant technological innovation of automating things in the respective sectors. ALSO READ: Global IoT market to hit $1.29 trillion by 2020: IDC
In reality, IoT has a bigger part in providing virtual opportunities to different sectors and smarter solutions for a plethora of indeterminable business and connectivity problems. While revolutionizing various industries, it eliminates risks of uninformed decisions and promotes determination of perceptual decision-making. With the help of collected data from connected devices, even SMEs can find a track to move further by making informed decisions based on the performance behavior of devices, employees, and even customers. ALSO READ: IoT devices to reach 50 billion by 2020: Report
Mr. Nandakumar is the CEO and Managing Director of NDOT, an Information technology developer that provides enterprise mobility software as a service to organizations of various statures.