The Internet of Things – What Is It and Why Is It Beneficial

If you’ve ever had any contact with physical objects that use software, sensors, or similar technologies that exchange data using the Internet, perhaps you’ve heard of the Internet of Things. This network is very important, yet not everyone is aware of what it can do.

Do you want to learn more about it and what it involves? This post will tell you everything you should know about the Internet of Things and ​​BizUpLab Kft., the company that can be your guide in this exciting world.

What Is the Internet of Things?

Simply put, the Internet of Things is a network of physical objects that use different software, sensors, and technologies in order to connect with other systems and devices and transfer data using the Internet. They could be anything, from complex industrial tools to your typical household objects. Because over 7 billion devices are already connected to it, the number is expected to rise to 22 billion by 2025.

The IoT has turned into one of the most essential technologies of our century because it instantly makes connections between objects. This means you can connect your thermostats, vehicles, kitchen appliances, and more to the Internet.

Thanks to IoT, it’s very easy for your objects to collect and share data without physical intervention from a human being.

Industrial IoT – What Is It?

Industrial IoT focuses on industrial setting technology. For purposes related to wireless control and automation, industries have taken advantage of machine-to-machine communication. Now, thanks to allied and cloud technologies, whatever industry you are in, we at BizUpLab can help you achieve a higher level of automation, leading to fresh business models and revenue. The Industrial Internet of Things is also known as the fourth industrial revolution wave.

Some frequent IIoT uses include:

• Smart cities;
• Smart power grids;
• Smart digital supply chains;
• Connected logistics;
• Connected assets and predictive and preventive maintenance;
• Smart manufacturing.

Technologies That Help Make IoT Possible

The IoT is not a new idea. In fact, it’s been around for a while, but only recent technological developments have made it possible today, and they include:

• Conversational Artificial Intelligence – Conversational artificial intelligence, also known as AI, added natural-language processing to various IoT devices like digital personal assistants Siri or Alexa.
• Machine Analytics and Learning – It takes less time and effort to collect insights thanks to access to different amounts of information stored in the cloud, as well as machine analytics and learning advances.
• Cloud Computing Platforms – Because cloud platforms have become more widespread, it is now simple for consumers and businesses to access the infrastructure they need.
• Connectivity – Internet network protocol hosts allowed cloud and other device sensor connectivity to become much simpler.
• Easier Access to Low-Power and Low-Cost Sensor Technology – More manufacturers have access to IoT technology now thanks to reliable and affordable sensors.

Industries That Can Thrive Thanks to IoT

Here are some industries that we at BizUpLab Budapest have experience with and that can benefit a lot from IoT:

• Automotive – IoT applications are extremely useful for the automotive industry. With the new sensors, vehicles experiencing equipment failure can be easily detected. Therefore, the driver can be notified about potential dangers so they know what they should do.
• Retail – Retail companies can use IoT applications to improve customer experience, manage inventory, optimize the supply chain, and reduce operational costs.
• Healthcare – Nurses, doctors, and other medical workers can use IoT asset monitoring to help them in the hospital. For instance, they will always know the location of wheelchairs and similar assets and the inventory will be done in an instant.
• Manufacturing – With production-line monitoring, manufacturers will have a huge advantage. They can use sensors to find out when production output is having issues. This way, operating costs can be reduced, and uptime can improve.

Final Thoughts

The IoT has changed the world in many ways. If you work in healthcare, manufacturing, automotive, or any other industry, we at BizUpLab Hungary can make your job easier and bring you various benefits that you’ll be thankful for in the long term.