Internet of Things Changes Everything

Description: Currently in the business world we are witnessing something like the epic collision of two galaxies — a rapid convergence of two very unlike systems that will cause the elements of both to realign. It’s all thanks to the Internet of Things.

Source: Harvard Business Review

Date: May 7, 2013

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If you are not familiar with the term, the Internet of Things refers to a dramatic development in the internet’s function: the fact that, even more than among people, it now enables communication among physical objects. By 2015, according to my own firm’s projections, not only will 75 percent of the world’s population have access to the internet. So will some six billion devices. The fact that there will be a global system of interconnected computer networks, sensors, actuators, and devices all using the internet protocol holds so much potential to change our lives that it is often referred to as the internet’s next generation.

For managers, this development creates challenges both long-term and urgent. They need to envision the valuable new offerings that become possible when the physical world is merged with the virtual world and potentially every physical object can be both intelligent and networked. And, starting now, they must create the organizations and web-based business models that can turn these ideas into reality.  READ REST OF STORY

Questions for discussion:

1. What is the INTERNET of THINGS and why is it important?

2. List some market technologies that you see around you that are part of this INTERNET of Things

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25 thoughts on “Internet of Things Changes Everything

  1. Lucille Black Rabbit

    The Internet of things refers to the fast paced development in the internets functions not just between people but also between objects in our everyday lives. This refers to the remote car starter where you don’t even have to physically go out to your vehicle to turn the key to start the engine so that your car is either warm in the winter or cool in the summer, or the app on your Ipad that locks your front door when your not even home. There is a car now that wont let you listen to the radio unless your seatbelts are all buckled up. There’s a house security system that tells you or even shows you on your computer at work that someone has entered your home and then asks if they should alert the authorities. Cars have devices that will tell you your engine fluids are low or how far you can still travel on the amount of gas you still have in your tank.

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  2. Michael Scott

    The Internet of Things is a network that is comprised of devices that are capable and connected to the internet. They communicate with each other and perform simple tasks, which can make day to day living much easier. Smartphones have begun to replace TV remotes as a way to control your television, while it still retains its use as a telephone. The smartphone is kind of the lead for this, as it brings many different avenues of technology together into one device with many practical applications.

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  3. Helene

    The internet of things is the development in the internet’s function not just with people but with physical objects. It mentions that devices will be globally connected too. It creates challenges for Managers now and in the future. Mangers need to think about the potential opportunities this brings as well about how to change or develop organizations and web-based business models. These are the future trends that managers must take into considerations with the companies they work for.

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  4. Sherry Lu

    The Internet of Things refers to a dramatic development in the internet function. It allows communication between physical objects, but not only that there will be a global system of interconnected computer networks, sensors, actuators, and devices. According to the article, by 2015, there not only will 75 percent of the world’s population have access to the internet, but also will some six billion devices. It is important because it has changes many people’s lives and make connection easier between people and computer networks. Many devices in our daily life are examples of Internet of Things, some example are smartphones, laptops, Apple TV and GPS.

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  5. Helene

    Among the taxi service a new competitor has come about, Uber. Developed in 2009, this car service is different compared to the regular taxi service. Uber utilizes GPS to help any customer needing a taxi service and Uber to locate possible customers. What is unique about Uber is that it will give the customer an estimated time of arrival of Uber car, and once the customer is brought to set destination, and will charge the customer right from their account. This price, or fare, will vary for what type of Uber car you will want or need. There are simple requirements to be an Uber driver, for instance, having cleared a background check, a valid driver’s license, have own car insurance, and have own car to use. Since Uber driver’s use their own vehicles, they don’t have to rent a vehicle from a taxi service or like other normal taxi cars do not need a medallion to legally drive a taxi service within the given city. As well, Uber drivers, do not have to pay an extra cost for the medallion to transport customers. This company has expanded so rapidly and as far as France, Japan. United Kingdom, and Australia.

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  6. Mitch

    The Internet of Things is the ability to communicate, not only electronically from person to person but now much more. The internet has developed so quickly and so drastically it can almost connect anybody to anything anywhere. The internet is now an integral part of society and is second nature to most. Almost everything around you needs or uses the internet today. Who would have thought long ago that a watch, something so simple as a watch would be ran through internet as the Apple Watch is? Picture your job today without the internet and the majority of jobs would either not exist, or be so much different they wouldn’t even be the same job really. Technologies today are further fetched than many ever could imagined, and it is truly hard to try and forecast “what could be next”. Sometimes I try to think how can things get better? The Apple TV technology is a technology that can be put in the category of “The Internet of Things” as you can run the internet right on your tv, as a computer. Many years ago they didn’t even have colour in their tv’s and now we have 3D tv’s acting as a computer. Technology is no doubt beneficial to our society as it ha made things easier, more efficient, and ultimately more accurate.

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  7. Tyson

    revenue streams such as consumer designed products.
    The Internet of Things enables communication among physical objects. This is due to the rapid development and advancement of the internet, and its ability to connect almost everyone in the world. Such physical objects can include jewelry (Apple Watch) and fitness accessories. Everything has become connected through this global network, allowing for access to previously unknown information. The internet has become a staple of modern society and culture. Most jobs require access to the internet throughout the duration of the work day. The advancement of the internet has clearly shown the trend of future technologies, and their importance economically. On my car keys I have a GPS locator called Tile. Tile can give an accurate GPS location, as well as play loud sounds, therefor, preventing you from say losing your keys in your couch. Innovations such as Tile are a product of the advancement of technology and the internet, which have become greatly beneficial to both societies and individuals. Apple TV is another example of a market technology that is a part of The Internet of Things. Apple TV allows for basic internet access through your own TV, which 15 years ago, would have seemed distant.

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  8. Zhiyao Guan

    The Internet of Things refers to a significant development for the Internet. Besides, the Internet of Things has a broader and deeper meaning compared with the Internet.

    The Internet of Things plays a vital role in our daily life. The reason for this is that we are living in a world surounded with IoT. It gradually becomes a part of our life. According to the article, not only a majority of people but also a large number of devices will have acess to computers by the year of 2015, which means that we are now living in a society with highly development of science and technology. It truly brings a lot of benefits in our daily life. Life becomes much easier and convenient with the rapid development of technology, which boosts the development of Internet of Things.

    Bluetooth selfie stick is a good example of IoT. You can take selfie for you and your friends by simply pressing a button on the selfie stick. Bluetooth helps connect your phone with the selfie stick. In this way, you can take a picture without touching the button in your phone.

    Another example of IoT is the remote control in your car that is conneted with the garage door. You can open the garage door in your car by just pressing the open button in the remote control without going out of the car, whcih brings a lot of benefits for us especially during winter times.

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  9. Kirsti Osowetski

    The internet of things is the advancement of the internet and everywhere and everyone it connects people to as well as all the devices it connects around the world. It makes peoples lives much more convenient by the swipe of a finger or a click of a button and just like that you’re connected to everyone who is important to you. An example of this is your smartphone or any other device that you can connect to the internet on or that you can control other devices and appliances with. Another example is the iCloud system that automatically uploads everything on your phone to your computer without you having to push any button or turn on anything other than your phone which is always on anyways.

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  10. Evan

    “Internet of Things” is the emergence of the internet use & access in hardware devices, things that used to be just stand alone items now force the same companies to learn how to integrate internet technology in their products. Like the story mentioned, at CES 2016, fridges used to be simple and boring, now your fridge is connected to your wifi and phone as to allow you to always know what is in your fridge & message you if you are out of milk. This new technology has lots of data and new frustrations for traditional companies to stay relevant in 2016 onwards.

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  11. kaylie neisz

    The Internet of things refers to the ongoing and extreme development of the Internet and how it no longer is only accustomed to communication among people but to physical objects as well. Even more so that physical objects are even more connected to the Internet then people are now. Thus, creating a global system of interconnected computer networks. It is a rapid convergence of old business structures focused on control and new open business structures colliding together to hopefully come to an equilibrium structure that holds the best of both worlds. It is happening because the world is advancing, and innovation is driven by easier ways to do things, which the Internet has already proven to do. However, the difficulty is in transforming the physical world to become accustomed and collaborating with the virtual world. Yet people have started to become accustomed on their own and the virtual world has increased the accessibility consumers have to information and differentiation. This potential for the global system to become even more interconnected through technology is referred to as the Internets next generation. These new web based business models being developed by the Internet of Things are also bringing market contenders together that have not before associated with one another. This helps to educate market players who are still in the old economy and bring them to date with the present times, as well as help the futuristic new economy hold insight from the past to help them continue to move forward quickly, efficiently, and effectively. Combining with each other develops a competitive advantage that each could not have achieved as easily or quickly on their own. Because this somewhat develops an arms race between similar organizations entering the playing field, healthy competition eliminates the fear of monopoly, gives consumers more choice, and encourages businesses to always be on their toes and to continue to innovate. Furthering, having the web as an extremely helpful tool in an industry limits error and improves productivity throughout an organizations system not only for communication but for manufacturing as well. Therefore it benefits both the seller and the buyer to distribute the best goods and the choice to determine as a consumer what of those goods is the best to you.

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  12. Yifan Han

    The Internet of Things is the network of physical objects which are devices, vehicles, buildings and other items—embedded with electronics, software, sensors, and network connectivity that enables these objects to collect and exchange data. it is important because it can be used in many fields. nowadays people are connecting with technology system in many aspects of daily life. for example, we use GPS system when we drive cars to a place. also there are many people wear a fitbit for health to compute how many steps or distance they take. also some people use apple iwatch when their iphones ring but they are driving.

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  13. Danielle Anvik

    The Internet of Things refers to communication between objects, as opposed to people. From a business perspective, I can see how communication between devices could target marketing to a level beyond what sites were recently visited.

    My husband recently got a Fitbit. He now regales me with statistics about the number of flights it is from UHall to the Sub, and how much extra walking it will take to reach his 10,000 steps. Recently, while driving, his cellphone rang, and his Fitbit flashed the name of the person calling, making it easier to determine if this was a call worth a stop.

    I noticed my Google Calendar added a flight of mine without my knowledge, presumably based on a confirmation email I had received. And when I opened Google Maps on my phone, it opened right to an address I had just typed into Gmail. These things were convenient, but disturbed me from a privacy point of view. Who else was Google informing of my plans besides my own apps?

    What about a Smart Fridge linked to a Smart Pantry that inventoried your food, down to portion size? It could help with meal planning to use current food, and targeting food based on best before dates. Further, it could help with shopping lists for next week’s meals, linking with grocery store flyers, and finding sales to maximize your food budget. It could be personalized with food preferences, and number of mouths for each meal.

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  14. David Zhang

    “Thank you for calling ONSTAR.
    Hey, it’s Tiger here, I’m locked out of my Buick and I would rather not use this 6-iron.
    We’ll unlock your car for you.”

    ONSTAR, an example of the internet of things already hard at work back in this 2012 commercial. The Internet of Things (IoT) is an idea conceived between 2008 and 2009, according to Cisco, IoT simply put is “the point in time when more devices or objects were connected to the internet than people”. IoT is important because it opens up a new dimension for devices and objects to be connected, and this allows devices to adjust themselves for our convenience. Cars can unlock themselves for us, a machine fitted with sensors can initiate its own maintenance, and everything in your future house could later be connected via the Internet of Things. The printers found throughout the U of L is another service that is connect to the IoT, any printer connected to our network can be used to print documents from any computer within the school. Network is the key concept that powers the IoT, networks can be used in all sectors such as education, transportation, home, etc. As more and more objects are connected via networks, security becomes an area of concern and focus. Hacker attacks that can cripple the networks would also in the era of IoT, cripple the devices that rely on those networks. Overall, IoT improves efficiencies of devices connected to the interest, as well as contributing positively to society by lowering costs of providing services.

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  15. Shiqi Wang

    The Internet of Things is the interconnection of uniquely identifiable embedded computing devices within the existing Internet infrastructure. Typically, Internet of Things is expected to offer advanced connectivity of devices, systems, and services that goes beyond machine-to-machine communications (M2M) and covers a variety of protocols, domains, and applications. The interconnection of these embedded devices is expected to usher in automation in nearly all fields, while also enabling advanced applications like a Smart Grid. Things, in the Internet of Things, can refer to a wide variety of devices such as heart monitoring implants, biochip transponders on farm animals, electric clams in coastal waters, automobiles with built-in sensors, or field operation devices that assist fire-fighters in search and rescue. Current market examples include smart thermostat systems and washer/dryers that utilize Wi-Fi for remote monitoring. According to Gartner, Inc. (a technology research and advisory corporation), there will be nearly 26 billion devices on the Internet of Things by 2020. ABI Research estimates that more than 30 billion devices will be wirelessly connected to the Internet of Things by 2020. As per a recent survey and study done by Pew Research Internet Project, a large majority of the technology experts and engaged Internet users who responded—83 percent—agreed with the notion that the Internet/Cloud of Things, embedded and wearable computing will have widespread and beneficial effects by 2025. It is, as such, clear that the Internet of Things will consist of a very large number of devices being connected to the Internet.

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  16. Narinder

    We are living in the internet of things and it is here to stay. This is the way to communicate with the world, electronic devices has made our lives efficient and saving time in the long run. The internet allows us to share information and better utilize the human resources and save money. For example, in my work place technology and the internet has gave us a more economical route to communicate with vendors across the globe.. Our on line ordering system has allowed business to run more efficiently with dramatic cost saving . The internet of things has given birth to globalization, we can now do business with other countries in real time.

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  17. Karla Carcamo

    The internet of things is described as physical objects being connected to the internet. These objects can communicate with each other and deliver data/information to people, creating new/multi uses for them. A watch is no longer a teller of time but a monitor of your heart that can pinpoint your location of where you stand in the world. Objects that are becoming connected with the internet and part of our communications are watches, surfboards, jewellery, shoes etc. Wearables are technologies that have taken off in a big way and soon more and more objects will be joining the smart way, it’s not just for cellphones, tablets or even televisions anymore.

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  18. Kurtis Hawkins

    The internet of things is describes as physical objects that are now connected to the internet and to other physical objects. These connected objects have taken the form of fitness/heath trackers, thermostats and even bed sheets.

    Personally, I use and Under Armour fitness band daily, an Under Armour heart rate monitor while i work out and an Under Armour Scale to weigh myself. All of these instruments are connected to each other and sync to an app that amalgamates the information together and displays steps, heart rate, calories burnt, hours slept, weight, body fat, calories consumed and much more. These package allows you track your workouts and lifestyle with hard evidence of your progress. Traditionally, your health was a subjective aspect of our lives that we kind of had to guess if we were being healthy or not. Today, we have to power to analyse our own health in a way that was not possible a mere 5 years ago.

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  19. Yichao Jing

    According to this article, the Internet of Things is a dramatic development system of interconnected computer networks, sensor, actuators, and devices within the existing Internet infrastructure, and enables communication physical objects. It allows people to control objects by connecting devices and vehicles using the Internet. The Internet of Things is established under the development of the Internet. The Internet of Things is more and more important in daily life. The Internet of Things make people’s life more convenience, and people can use it to save time and get a better life. Some people think they cannot feel the benefits on living in the Internet of Things age, but I think the Internet of Things is everywhere in our lives. For example, we can open air-condition and reduce temperature our cars when we will use cars later, which people can save time for waiting. Moreover, when we get into buses, we can swipe bus card instead of insert coins, and it is convenience for people because we do not have changes sometimes. Therefore, the Internet of Things will be a good technology for creating a better life.

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  20. Jiani Z

    The Internet of Things is an expansion and extension of the Internet. It enables the communication between both people and electronics, and it connects objects through the Internet and information sensing system. It is ubiquitous devices and facilities, which includes sensors with intelligence, mobile terminal, industrial system, home intelligent facilities, and video monitoring system. By using the Internet, Intranet, and Extranet, the Internet of Things can fix position, tele control, and supervise. The Internet of Things is a wave of information industry’s development that plays the same role as computers and the Internet. It is important because it connects all things together, and it helps the development of industries and provides more opportunities for businesses. What is more, it changes the relationship between buyers and sellers, and selling products simply has been changed into selling products with services and making consumers easy to access products. For businesses, the Internet of Things forces them to consider more about competition and the relationship with customers and competitors, and it creates a new way for business to develop. Obviously, the Internet of Things makes life become more convenient and it brings a new view of future development. Market technologies like bus pass, cash registers, and security control are all parts of the Internet of Things.

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  21. Nisali

    The Internet of Things is a way that electronic objects are connected to each other and enables people to connect also. When you think about it, with todays’ technology, the concept seems simple and common. You essentially have a giant remote to control every aspect of your life. You can control your house security, temperature and even the coffee maker from miles away just by using your phone. Your car keys have a little chip that can lock, start and even locate your car. Your phone can be connected to your car via Bluetooth and it can answer calls and even text messages for you while you drive. You can create a movie on your laptop and play it on the TV. You can access documents anywhere in the world. When you think about it, the computer was invented 70 year ago and it took up an entire room. Now there is a computer that is a thousand times more advanced that fits in a pocket and is mainly being used to take selfies. The Internet of Things is important to a global market that is no longer separated by borders and is growing and advancing every day. In order to keep growing, we need technology to keep advancing.

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  22. Sadie R

    The internet of things is the new innovative way of connecting with not only people but now electronics. We are now able to connect more efficiently and effortlessly, which is very appealing to individuals who prefer easier ways of doing things. This concept is very important because it has been integrated in to the daily lives of individuals. Thermostats like “Nest” and lock companies like “Kevo” both have a phone app that allows access to the home though a cellular device, eliminating any boundaries or impediments that may hinder and individual to go home and be present to work these devices because now they have access from anywhere. Another extremely popular device following the idea of “the internet of things” are car starters. With the simple touch of a button individuals can start their cars while not being physically in the car but only a range of connectivity between the car and started fob on you keychain. Even a website like Turnitin allows people to interact with the internet by submitting their essays to check for plagiarism rather than having an outside individual, professors, check each easy themselves. The internet of things has made lives of individuals easier and has stretched our abilities to do more from one place than ever before.

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  23. Cecile Chan

    The Internet of Things is the network of physical objects: devices, vehicles, buildings and other items embedded with electronics, software, sensors, and network connectivity that enables these objects to collect and exchange data. The Internet of Things is important because this technology has already been bonded to our daily life. Nowadays, in each and every aspect of our life is connected through a device, or Internet. The Internet of Things does not only connect people around the world through Internet but also make our life easier and more convenient with gadgets invented by companies like Apple. The Internet of Things is also important in companies and factories. No matter what career you are in, you will need to have access to at least one device to keep track on your work and finance states. Not only it could provide us with personal conveniences but for the public as well. News is one example of sharing every individual’s point of view through the Internet.
    Market technologies that I use that is part of Internet of Things are Iphone, Ipad, Macbook laptops, and software like GPS in my car.

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  24. Matthew Sentes

    The internet of things is the huge advancement in what the internet can do. The internet does not only allow people to communicate but it also allows technological tools to communicate among each other. It is the interconnection of technology over a number of different physical objects. It is important because it makes individuals lives easier and allows companies to market in a much more efficient way then before. Services online are able to be seen by everyone with the internet where as a company that does not have a website is missing out on a lot of potential business. A couple examples would be iCloud. It allows texts, photos, videos and numerous other things to be shared across a variety of apple products. All the user has to do is sign in to each product and then they are capable of having the same information over a number of different products. Similarly, dropbox allows access to all files that have been uploaded to it to be opened on any device by simply logging into their account. This makes it very easy to share information with others, as well as ensuring that you have your documents when you need them, regardless of having your physical object (ie. computer) there or not. Apple TV is another example that allows you to put what is on your computer or other apple device onto the television. This interaction between computer, Apple TV box and the TV illustrate how far the Internet of Things has come from just a few years ago when you would have to run numerous wires to achieve the same effect.

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  25. Amy Giesbrecht

    The Internet of Things is a network of devices that are connected to the Internet and can connect to each other to automate simple tasks. Some everyday examples of application use of the technology would include command start on a car where the touch of a button automatically starts a vehicle or new apps on your smartphone that allow you to connect via wifi with your appliances and electronics as a remote to turn them off or change settings. Another example is the use of the fitbit which tracks daily movement and logs it online for you to view via the usb adapter.

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