Why the Things of Internet are the Next Economic Revolution

There is no point in talking money these days unless you talk in trillions of dollars rather than the lower echelons of millions or billions when it comes to technology, and definitely not when talking about the Internet of Things.

The Industrial Internet of Things holds great potential to change the industrial sector and improve economic productivity by adding trillions of dollars to the global economy. The development of the Internet of Things has completely changed the physical world, making it safer and more convenient.

 Looking at this easy to understand infographic, which outlines everything from the Industrial Revolution to the Technological Revolution and onto the new and valued field of the Industrial Internet of Things explains things a little better.  The infographic includes details about smart farming, smart energy, smart manufacturing and smart cities, all of which will have a revolutionary impact in the future on all of us.

The Industrial Revolution marked a major turning point in history as the world transitioned from manual labour to machine production.  Virtually every aspect of daily life was influenced in some way by the introduction of machines and the rise of the factory system.  Today we are on the brink of the next Industrial Revolution with the integration of the Internet of Things.

What are the main industries to be affected by this economic revolution?

Healthcare

The top ten examples of here healthcare will be affected by the Internet of Things include; OpenAPS (open artificial pancreas system), CGM (continuous glucose monitoring system), activity trackers during cancer treatment, connected inhalers, ingestible sensors, connected contact lenses, MDD (major depressive disorder) watch monitor, Bluetooth coagulation testing, iPhone Apps for arthritis, real time mobile devices and sensors for Parkinson’s disease.

Transport

“With increased communication and data collection abilities such as GPS, cloud computing, (M2M) machine-to-machine, and cell phone triangulation/mobile devices, more data is available.”

– Quote by Brent Merswolke at Miovision ‘rethink traffic’, July 2013

The Internet of Things will affect all types of transportation including; planes, trains, buses, coaches, trucks, vans, cars, bikes and all other modes of transport.  As long as we are prepared for the development in this field we should openly be able to embrace the change.

Agriculture

 “It is forecasted that by the year 2050, the Agricultural Internet of Things will increase food production by 70% and be feeding up to 9.6 billion people.”

– Quote by Yash Mehta at IBM, May 2017

Agriculture is one of the greatest developments through the Internet of Things, and with smart agriculture comes assistance with water shortage, sensors to monitor soil moisture, and sensors to monitor feed for livestock.  Equipment can be used remotely for irrigation and overnight harvesting, all of these are tremendous breakthroughs in the world of agriculture.