Estate Living Magazine Connection - Issue 43 July 2019 | Page 52
L I V E
S M A R T
THE IMPACT OF
THE
INTERNET
OF
THINGS
ON OUR DAILY LIVES
The Internet of things (IoT) has become a hot topic of conversation with technical,
social and economic implications. It is a concept that not only has the potential to
influence how we live, but also how we work and play. Projections for the impact
of IoT are notable, with some anticipating as many as 100 billion connected IoT
devices, and a global economic consequence of more than US$11 trillion by 2025.
What is the IoT?
Simply put, this is the concept of connecting
any device with an on/off switch (objects,
sensors and everyday items not usually
considered computers) to the Internet (and/
or to each other), and allowing these devices
to generate, exchange and consume data
with minimal human intervention.
How the IoT can transform our lives
A growing portion of IoT devices,
including connected vehicles, home
automation, wearable technology, cell
phones, headphones, connected health,
and appliances with remote monitoring
capabilities, are created for consumer use:
• Improved safety – smart homes/home
automation: You’ve probably heard of
smart fridges telling you when you’ve
run out of milk, or that self-driving cars
will soon be commonplace. IoT devices
in homes can include lighting, heating,