Everything Changes with the Internet of Things(IOT) ?

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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66 thoughts on “Everything Changes with the Internet of Things(IOT) ?

  1. Kelsey Hallett

    The internet of things describes integrating and ultimately sharing information between physical objects and a complex web of networks. For instance, the articles mentions that when a machine is fitted with sensors, it can know what condition it is in and, whenever necessary, initiate its own maintenance. This eliminates the need to worry or take time to consider these mindless tasks and issues until they actually present relevant information, such as showing a warning of a low level of something. This solution, and others that are similar, prove useful and reveal yet another way that technology can be utilized to increase efficiency. There is an endless list of the ways that technology has been applied to objects from being able to start your vehicle with your phone, or Fitbits being used to track extensive information about a person’s health. This interconnectivity provides a whole new means and way of approaching the concept of limitations in technology.

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  2. Tim

    This article looks at the changing way of doing things and focuses on the Internet of things as an example. The internet net of things as the interconnectedness of devices and apps. And this has created a new way of doing things from having the heater turn on 30 mins before you come home due to GPS tracking and smart switches. But this article also looks at how there are different economies or ways of doing things – there is the old way by which is meant the ‘traditional’ way and there is the new way of which the Internet of things is an example as well as a force for change.
    The article makes the point that at the moment it is a competition between the old way and the new way, and often businesses are grafting new technologies / process on to the old way and hoping for the best. My personal belief is that process will work for most the time, but occasionally you will get a “game” changer such as the smart phone’s (in hardware) or in software the rise of sharing services such as google docs or even a concept like Wiki’s. These things all change the way people work and thus can change the old business model (or even destroy it as seems to be the case of Uber and the Taxi industry). How you manage those game changers determines how profitable the business becomes, and this is where the old model can fall down, often due to its own internal inertia, and a belief that the way things worked before is the way they will always worked, Perhaps Kodak is an example of this – they believed that cameras would always need film but as technology has shown this is not the case.

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  3. R-M Nyberg

    1. The Internet of Things is the keen ability for the ever-expanding internet to communicate among physical objects through interconnected computer networks. Almost every physical object can both be intelligent and networked. Moreover, it is the web-based service that controls the venue for how the service is delivered. It is an important role too because it has a unique talents for bringing players and stakeholders in the old and new economy together. It is also a matter of maintaining protection over existing interests, while planning the value proposition they offer to clients. It is so important because it is vital for businesses to operate on the side of progress rather than face extinction as the impending changes secure their foothold. The need to adapt to technology and learn the latest developments remain crucial to your survival in this competitive world.
    2. Some market technologies that I see around me that are part of this Internet of Things are the fridges that can tell you if you are low on milk, or other household groceries. It can also schedule appointments for you if the business works on apps and can create a meeting in an empty time slot. I think the Internet of Things also involves closing your garage door or letting you know if things are about to expire in your fridge. It could also screen out visitors to your home if you tell the computer not to accept requests to enter from a certain someone. Overall, the Internet of Things displays the capacity to build on existing platforms to create a new, profitable industry.

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  4. Jordan Doram

    The Internet of Things is the change and evolvement in the technological world that now has the majority of the world’s population using and adapting to such. It is an important concept because individual’s that are part of the business world are faced with many new improvement of their job but they also face many challenges. Due to the rapidly increasing technology change, many employees and employers are challenged with keeping up with the technological world to compete in their market. IF their competitors are using faster and more efficient techniques then they are also forced to do the same if they want to be profitable and continue competing. The Internet of Things has also created a business world throughout the web that businesses are taking advantage of and competing for consumers this way as well through online shopping, advertisement and loyalty programs. To be a successful business nowadays it is essential to be kept up with the technology that is vastly becoming more and more efficient.

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  5. Keshah Austin

    The Internet of Things is everywhere.  Even if we don’t even realize it, we are a part of it. But what exactly is it ? I believe it is the ability to access the Internet anywhere and everywhere by a touch of a button; we able to access it at a moments notice. As we speak my roommate and I are currently driving to Lacombe, and while she is driving I am writing this. I am able to switch back from the Internet to look at the article and then back to notes to continue writing. This wonderful convenience is incredibly important for today’s society, but it isn’t without hindrances. The benefits of having access to the Internet from a push of a button is amazing. If we are lost, we can look it up on our cellphones. If we need suggestions on where to eat, it’s only a touch away, but we have become so dependant on it as well.  It is so convient for us. But we access the Internet even when we don’t need too. The Internet has take away the human connection as well. How many times have we walked into a restaurant and seen a couple on their phones; not even talking to each other. How many times have we lost an hour, or more, just surfing the web? The Internet of Things is the wonderful thing. It’s necessary to have and to use, but we also need to mindful of maybe going a bit too overboard with it.

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  6. Alex Geates

    The internet of things is the communication of devices with other devices. This is important because we are living in an age were connecting people is becoming less important than connecting devices.

    Smart homes are becoming a popular item these days. The ability to remotely lock the doors to your house or to open the skylight on a warm day. The ability to step into your truck and have your phone connect automatically and play your music without even giving it the slightest thought is probably one of my favourite inventions. There are probably many more inventions that we don’t know of that will allow devices to communicate what we want with each other and never include us in the process at all.

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  7. Jessica L

    The Internet of things refers to the connectivity of devices on other devices. This Internet of things is creating a new economy that allows businesses to interact with each other. It’s opening new networking opportunities and reaching more people. Where once people contacted people to discover results, devices are now about to communicate with other devices and eliminate the need for human interaction. This elimination also alleviates the strain of human error. For example, LG appliances are able to tell you when they need maintenance through their smart diagnostics program. By initiating this program, LG service calls would now only require a repair person to go to the customers home and fix the problem. Prior to smart diagnostics, a repairman would have to go out to a customers home and assess the problem. They would then go back to the office, order a part, perhaps research the problem. If ordering a part they would have to wait for it to arrive. Upon arrival, the repairman would have to make another trip to the customers home to repair the issue. This lengthy and time consuming process is no longer needed. Smart diagnostics cuts down the time of this process significantly because the appliances eliminates the “identify the problem” phase of the repair and job.
    The article encourages companies to go with this change. To embrace it or risk being left behind.

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  8. Layla Lahiji

    The Internet of Things is the interconnection of people to the internet through the physical inanimate objects around us. Not only do we access the internet, but with today’s technological advancement, objects are able to connect and collect data through the internet without direct human guidance. I have never really thought about the many different devices that use the internet of things. In my household alone, we have numerous computers, laptops, tablets, iPods, smart phones, along with a kobo, a TV, and even a vehicle that all connect to the internet. That might seem obsessive but, there are many more options such as watches, stereo systems, shower accessories, and even kitchen appliances that can be connected as well. What I find truly fascinating, is the way inanimate objects connect with each other to transfer data and information. Take a parking light for example (the ones found in high tech parking garages in larger cities). These lights shine above parking spaces to show available spaces in the parking lot. A sensor in the space will send a notification via the internet to your phone to let you know whether there are any free parking spaces in that parking garage and how many are open. This could be very helpful for consumers, saving them the time it would normally take to search the whole parking garage for a parking space. The internet of things has definitely made our lives more efficient by assisting in communication and time management aspects. However with benefits come several risks such as, safety concerns, dependency on technology, and less face-to-face relationships.

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  9. Simone Bowes

    The internet of things refers to the interconnectivity of everything – most objects can now be intelligent and networked. Devices have now become mediators to the virtual world as opposed to inherently holding value as an object. One market technology that is part of the internet of things is Google Nest, where you can now adjust your temperature and hot water settings from your smartphone which leads to more immediate energy management. Smart lighting is now a thing, where one can adjust the lighting in your home from a smartphone. Some of these lights will even blink when you get a phone call, which seems more creepy than helpful. Electrolux’s CombiSteam oven allows users to control their ovens from the office, where they can adjust temperature and humidity while watching their meal cook on their smartphone. The Smarter’s Wifi coffee machine allows you to make a fresh cup of ground coffee while you are still in bed, which is an interesting reward system. There is now smarter security, where instead of a key you can tap your smartphone or fob against the ‘lock’ as the Goji Smart Lock advertises. Self tending gardens have recently become quite popular, as evidenced by the Flower Power H20, which measures the exact water needed for you plants and gives you personalized gardening advice through an app to your phone. The most visible one to date that I have seen would be the health and fitness wearables, such as the FitBit. I was interested to learn that insurance company Manulife was introducing a plan to offer Canadians discounts on their plans for participating in healthy activities, monitored by a FitBit.

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  10. Robert Mercer

    The internet of things is the interconnection of “things” (devices, vehicles, buildings, etc.) using the internet. These “things”” are combined with hardware and software that allows them to collect and transmit information between each other and systems. One of the first examples is ATMs. They transferred information from one ATM, to other ATMs, and the bank system. More modern examples include Ford Sync, John Deere FarmSight, Fitbit, Nest home thermostat and June intelligent oven.

    The internet of things is important because of its impact on our lives. Even now with the IOT in its infancy, the large percentage of the western world is connected via the internet. Businesses can operate without ever having two people in the same room, vehicles can drive and park themselves, and it is rare to find a young person without a smart phone. The IOT has a huge impact on how we live our current lives.

    It is estimated only about half of the world has internet access. Looking into the future, Internet.org, a partnership between Facebook and 6 major telecommunications companies, looks to connect the rest of the world. They hope to offer free or inexpensive internet connections in hard to reach places. Their ambitious goal includes using AI software, drones and lasers. They also want to keep much of it open source so others can use it.

    With massive growth predicted in the IOT and (hopefully) a much larger percentage of people connected to the internet, it will be extremely difficult to find aspects of our lives that are not affected by the internet. The overall goal would be to increase efficiency and quality in all aspects of our lives.

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  11. Spensor Griffith-Cochrane

    The Internet of things is how everything in our lives are becoming increasingly interconnected through the internet. Many mundane, and exciting facets of our lives are all starting to converge into one place. This is extremely important for us and for businesses, it allows us to go through our lives with ever increasing convenience, it frees up time, that while may seem small or insignificant can really add up. It also allows us to interact with each other, and with business in all kinds of new ways. An increasingly rapid arms race has begun, with every company wanting to be that central point for people, that one device that allows them to do everything they need. We can already see this in the smart phone market, Google, Apple, Samsung, HTC, and a slew of others, all competing to be that one device which holds our entire lives in it. To many of us, this is not even an exaggeration, within that thin piece of metal, plastic and glass, is held; our calendar, our banking information, our log in passwords, our family and friends contact information, birthdates, address, emergency contacts, our dictionary, our thesaurus. It is how we communicate with the outside world; many people are already making even more drastic changes. Entire houses and businesses are run from smartphones, they are able to close the blinds, turn on the T.V., monitor your security system, order pizza for you without you even needing to dial a number or talk to an operator, they can give you directions when you are lost, and even give you advice when you need it. All this can be done through a single device thanks to the interconnectedness of the internet, all part of the Internet of Things.

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  12. Michael Isfeld

    The Internet of Things is the information connectivity that we receive from the technological devices that we have. This can include our phones, tablets, laptops, vehicles, watches, etc. It is important because of the huge role it plays in our day to day lives. Right now, if I had to guess how many technological devices the average U of L student had I would guess about 3. I would say a phone, a laptop or tablet, and one various other, whether that be a fit-bit, an apple watch, some technology in their vehicle, etc. In our world today, it is survival of the most technologically enabled. In university for example, you have to have access to a technological device or you will fail. Messages from professors, lecture notes, quizzes and tests amongst other things all have to accessed through a technological device. In just the one facet of life, education, the internet of things is virtually impossible to live without and it is like that in many other facets of our lives as well.
    I find fit-bits and the like particularly interesting not only as health and fitness product, but also the data it collects and the possibility for that data to be used to help you live a healthier life, but also of the future ramifications that it could present to industries that may buy that data. Another piece of market technology that has my attention is the smart ball that Adidas has made. It is a soccer ball that collects just about any piece of data you could want from a person when their kicking a soccer ball. Rotations per minute, velocity of the ball, where the foot made contact with the ball, the flight pattern of the ball, amongst other things that are particularly useful to a player trying to improve their striking ability.

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  13. Amanda Brown

    The internet of things is referring to the connectivity that people have all over the world and in their daily lives that is made possible by the internet. The internet allows for physical objects to experience this connectivity and not just humans. This connectivity is important because it allows business’s to connect with each other in ways they weren’t able to before. Someone in Tokyo can be trading on the NYC stock market half way around the world. It also allows businesses’ to connect with their physical products, which can relay useful information back to the company, such as data mining.
    Some examples I have seen are universal remotes where someone can do anything in their house from turning on a fireplace to stating the blender with just the touch of a button. This is an example of connectivity within a house so that appliances communicate with each other. I also experience this with my apple devices and how they all connect to each other through the cloud, so that information I have on electronic can be seen when using another. Apple can also connect to things such a your bank account through apple pay, where you can tap your phone instead of using a card.

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  14. Cole Malaka

    1) The “Internet of Things” refers to interconnection of everyday things via the internet , enabling them to send and receive data. It is important not only because it will have huge social implications, just look at what’s happened since the introduction of the first smartphone and now. This article focuses mainly on the business implications this will have. The Internet of Things poses huge challenges to firms old and new. It’s very much a “get with the times or perish” kind of situation. Companies like General Electric, Bosch, Samsung, etc, will all have to adapt and reinvent their entire product mix in order to stay competitive. The internet has turned from a tool into a way of life, everything we do is technology related in some way and it seemingly appears to be getting even more so as time progresses.

    2) Here are a couple interesting Internet of Things inventions:

    Tripper: instead of installing an expensive security system you can now use tripper, which sends real time updates to your smartphone about when a door, window, or even cabinet is opened in your home

    Serena: a little excessive in my opinion but real. Serena controls your blinds from your smartphone, because pulling a string is simply too much work.

    Outlink: This is actually pretty cool. It’s a smart electrical socket that gives you real time updates on how much power is being consumed from the outlet. It also lets you monitor the power consumption of individual devices as well as cut the power to a device anytime, anywhere from your smartphone. Did you leave your power sucking fan on when you left for work? No problem! Just cut the power to it with your phone and avoid excessive energy bills!

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  15. Taylor Kraft

    The internet of things put simply is, the connectivity we have to the internet through all the technology around us. This could be, glasses, watches, phones, cars, tablets….ext. Internet of things is a huge network of everyone’s devices connected to each other, it gives us the ability to get any kind of information we want or need in a second. Being able to control your entire home from your smartphone, I feel, is a big thing. By just logging on and looking at your home you can see if your lights are on, if your garage is closed and if your security is armed. Things like this make us more productive and less worried about if we forgot to do anything. Also being able to save something on your ipad and have access to it on your computer and smartphone without having to transfer it is also a huge time saver. Fit Bit is another tool that is connected to a lot of things. You can connect it to your phone and get your data there, or a scale, or a computer. You are able to access your work out details from anywhere even if its not on your person.

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