Increasing interest in IoT
There has been a tremendous increase in investments in the Internet of things during the last year. A lot more can be expected in the immediate future. You may be in the market for a new Sports jacket. The moment you walk into your favorite store you receive a phone message. When you open the message you are presented with a map which will show you exactly where you can find all of the sports jackets. You will then proceed to that area of the store where you will try on various sports jackets. When you turn around to leave the store you are intercepted by a robot which will want to know if there’s anything else which you require. You may indicate an interest in something like a jersey for the coming winter. The robot will take you there and in a short time, you are able to make a choice. This is only some of the things which will soon be a living reality for millions of people.
Most consumers hate checkout lines
In a very busy store, it can happen that people wait anything between 10 and 20 minutes to be served. This is why many consumers will avoid busy stores because they do not want to wait in those long queues. From the perspective of a store manager, the need to employ dozens of cashier’s and other support personnel can be a very costly exercise. This is why the opportunities which are provided by the Internet of things is so exciting. It is now entirely possible to have a system which is able to read tags which have been attached to each item. It is now possible for your checkout system to automatically calculate the cost of all the products which has been selected by the consumer and then to automatically receive payment from the mobile payment application on the smartphone of the customer. The possibilities are endless. When a business has an automated checkout system which is integrated with the Internet of things this can result in better customer experience. These customers will be more likely to visit your store. Even when they have limited time available to them they will come to your store because there are no long queues. In this way, a business will be able to save a lot of money. Just on the cashier salary expenditure, a business can expect to save at least 75% of the current cost.
The Internet of things is expanding rapidly
Predictions by researchers and others indicate that the Internet of things will continue to grow. It will have an increasing impact on investments, data, and devices. Within the next year investments equal to $1 trillion can be expected. There is also the expected arrival of 5G technologies. It should also be understood that many of the available IoT devices rely on low-power and low data rate networks. Currently, this is provided by Cat-M and NB-IoT but many of these things will change with the introduction of 5G networks. There will be a lot more automation and a larger robotic presence. We will also see more augmented and virtual realities as well as artificial intelligence and technology such as machine learning. A lot is expected from the new 5G technology. It will enhance the capabilities of cognitive computing which many are saying will be vital to many currently available applications. It will also speed up the possibilities of the self-driving car which rely on computing abilities which require a reduction in latency to ensure instant decision-making. There is a long list of businesses which is just waiting for the new 5G technology in order to take their businesses to the next level.
Those industries include
The industries patiently waiting for 5G include public safety, logistics, emergency services, transport and many of the other elements integrated into smart cities. The evidence is already there that the Internet of things is already transforming everything we do in our private lives and also in business. This involves the streets of our city, our family homes, and companies. With the possibilities provided by the Internet of things we have access to controllable appliances, better home, and business security and we have better connectivity with friends, family, and other essential necessities all around us. It is not only homeowners which will benefit but also business leaders. The Internet of things will continue to make a very large impact on the way in which we live our lives and the way in which we conduct our business.