The Internet of Things is becoming quite popular nowadays among representatives of high tech, IT industry and among investors. They consider the IoT as a cost-effective and efficient way to make the global economy develop fast. One can’t go anywhere these days without encountering Internet-connected devices, part of the Internet of Things.
Since 2009, there has been a greater number of things connected to the Internet than the number of people using them. By 2020, the number of Internet-connected objects should top 50 billion.
“The Internet of Things will be as big as the Internet,” says Alex Frommeyer, CEO and partner of Louisville-located Uproar Labs specialized in building and launching of IoT products. “It will produce a very different consumer experience in the next few years.”
According to a recent research, conducted by International Data Corp, the world market for the Internet of Things will reach $1.7 trillion by 2020, representing a compound annual growth rate of 16.9%. The upturn is attributed to the increasing production of Internet-connected household devices.
“Devices, connectivity, and IT services will make up the majority of the IoT market in 2020,” the company stated. “Together, they are estimated to account for over two-thirds of the worldwide IoT market in 2020, with devices (modules/sensors) alone representing 31.8% of the total.”
Stephen Hawking, an English theoretical physicist and cosmologist, has warned that technology poses a considerable risk of destroying humanity in the coming century, and there are other less fatal but perhaps no less permanent consequences for human life in the meantime.
The world is moving towards a decentralized computer system generating more numerous connections with people, locations and hubs of information technology around the world. For instance, in Sweden, a microchip embedded under the skin with personal and contact details allows workers to open doors and use photocopier machines. In Mexico, embedded microchips control personnel’s access to the country´s criminal investigation center.
Our augmented bodies could soon become integrated parts of the IoT, leaving behind wearable technology since we build the tech into ourselves as “hardwear”.
In addition to that, our bodies might become the vehicle for a mine of personal and security information, which will raise both philosophical and safety issues, with our own brains no longer being the only location within our physical selves where information is stored. The implications are staggering, besides, it is still unknown how this type of chip-bearing may influence identity, cultural and social norms.
Moreover, the Internet of Things has the potential to change biotech laboratories and research thanks to top-notch and highly-valuable applications. At the end of March, IBM announced its plans to start a new Internet of Things (IoT) unit, in which IBM will invest $3 billion during the next four years.
“Our knowledge of the world grows with every connected sensor and device, but too often, we are not acting on it, even when we know we can ensure a better result,” said Bob Picciano, Senior Vice President of IBM Analytics, commenting on the launch of the new IoT unit.
The main problem of the biotech industry is that scientists may make mistakes as all humans do. The robots cannot produce incorrect results or mislabel samples, that is why the Internet of Things is able to rescue biotech providing all necessary robots and software.
Today, lots of private companies are busy to build biotech’s automated system, and the bio-Internet of Things is already starting to attract interest of publicly traded companies. The future in this field is already quite optimistic and it appears to become even brighter.