02 Jun What do you know about the Internet of Things (IOT)

What is the Internet of Things (IoT)?  The term was supposedly coined back in 1999 by Kevin Ashton while he was working for Proctor & Gamble. The definition of IoT is the inter-networking of physical devices, vehicles, buildings (also referred to as “connected devices” and “smart devices”), and other items embedded with electronics, software, sensors, actuators, and network connectivity which enables these objects to collect and exchange data. This is in laymen’s terms the new internet on steroids, which is basically connected to everything. I would like to share with you ten trends that were at the forefront of the recent Internet of Things World conference that took place in Santa Clara from May 15-18.

The following ten IoT trends that were reported by the IoT Institute are going to impact our lives here in the US, in a very big way. As the Miami-Caribbean region starts to activate it’s own Tech ecosystem we’ll continue to report on the movement of these trends in the region to ensure that as informed stakeholders, we can all be engaged in “Bringing the Caribbean Up to Code”.

1) IoT Coming to Brick and Mortar

IoT technology can help brick-and-mortar locations reinvent the customer experience, says Stephane Wyper, who is the Senior Vice President, IoT Partner- ships, at Mastercard. Separately, Samsung announced that it will help retailers launch intelligent pop-up stores.

2) Smart Lighting Gaining Ground

Michael Bell, president and CEO of Silver Spring Networks, comments on the surge in smart-lighting technology in smart-city environments. The city of Copenhagen, Denmark, for instance, is using the company’s network to connect motion sensors and traffic lights to safeguard bicyclists.

3) Government Entities Are Becoming Vital Tech Stakeholders

While many governments across the world are stepping up their use of IoT in innovative ways, notorious security problems in IoT are leading to calls for govern- ment regulation. Alan Boehme, global CTO at The Coca-Cola Co. argues that regulation in the IoT space will kill innovation.

5) Ransomware Could Come to IoT

John Maddison, Fortinet’s senior vice president of products and solutions, argues that the WannaCry ransomware attack could be a preview of what is to come in the IoT industry.

6) Connected Car Market Heating Up

It wasn’t long ago that connecting cars was considered optional. Now, major car makers are working closely with tech companies, says Scott Burnell, ‎global lead, bus development and partner management at Ford.

7) IoT Industry Becoming More Industrial

The adoption of IoT technology is shifting to the enterprise and industrial realm. At IoT World this year, there was a significant uptick in industrial exhibitors

8) Interest in IoT Seems to Still Be Building

Despite being called a hyped technology for years, the IoT market is continuing to expand. In a matter of a few years, the IoT World conference has grown from 700 registered attendees in 2014 to 15,000 this year.

9) Testbeds Galore

The number of IoT testbeds—and use cases—is steadily growing. A Demonstration of testbed projects was displayed at the Industrial Internet Consortium.

10) IoT Data Exploding

As the volume of IoT data balloons, it is becoming apparent that building trust—creating accurate algorithms—is becoming key.