THE INTERNET OF THINGS

Last week the Financial Times ran a great article, ’Welcome to the ‘Internet of Things’, by Chris Curran, leader of technology strategy and innovation for PwC.



The Internet of Things refers to a fast-growing and seemingly infinite eco-system of embedded devices in computers, cars, smartphones, appliances, - even clothing, books and toys – all connected to the Web and all producing data about who we are, where we are, and what we are doing.  For example:

• A modern car may have as many as 200 sensors, measuring everything from engine performance to tire pressure. The data is collected and analyzed by on-board computers connected to the car’s internal network. The sensor data can be used to detect problems but also to give statistics on the use of the car.
• Billboards along highways are equipped with sensors designed to assess how drivers fit consumer profiles and instantly change displayed advertising messages based on those assessments
• Estimates are that there will be about 400 million wearable wireless sensors by 2014. These sensors will monitor blood pressure, heart rate, levels of hormones, blood components and more.
• Pill-shaped micro-cameras can traverse our digestive track and detect issues and abnormalities
• Livestock are being equipped with radio frequency identification tags (RFID) tracking their whereabouts, environment and activities

The Internet of Things delivers a ‘connected life’ with immediate access to data, media, communities and communications across a broad range of devices.  This connectivity and information brings a raft of benefits including increased efficiencies, targeted communications, improved safety and health, and more.  But it also brings a raft of challenges – not the least of which is: how can companies tap all that data to improve products and services.