What is IoT?
Steve Brumer, Partner at 151 Advisors sits down with Jessica Murgia from Androidpit at MWC 2017 to discuss the Internet of Things (IoT). What is IoT? There are many predictions that by 2020 there will be more than 20 billion IoT-based devices throughout the entire world. While for most IoT sounds like something that is far in the future, you will soon realize how this technological revolution will have an impact on your daily life.
Steve explains that the greatest impacts of IoT for will be better productivity and efficiency levels. IoT devices are going to save us time and give us more data, with these combined it gives us the ability to use data in ways we have never thought about. Although IoT technologies are already being rolled out across Consumer and Enterprise Markets like all new innovations the IoT industry still faces challenges, with the 3 biggest being:
Systems Integrations– How can products and systems be successfully integrated
Lack of Education – We are not educating those who are building, selling and buying IoT products/services
Security Issues – Through the lack of education, we do not talk about the security issues or how things are put together to control security issues
Steve talks about what IoT is and where it is already being utilized in Consumer and Enterprise products/services. He informs us that the lack of education around IoT devices and services is the reason why individuals will not recognize the impact that IoT will have on their everyday lives. At home, in the office, at the gym, in the car and at the supermarket, connected devices that can collect and analyze data in real time will have a greater impact on or lives than we can possibly imagine.