- Smart Cars will communicate with traffic lights to improve traffic, find a parking spot, lower insurance rates based on telematics data
- Smart Homes will have connected controls like temperature, electricity, cameras for safety and watch over your kids
- Smart healthcare devices will remind patients to take their medication, tell doctors when a refill is needed & help curb diabetic attacks, monitor symptoms and help disease prevention in real time, including in remote areas
- Smart Cities & Smart Industries are the buzz-words in IT policies of many governments
- With sensors and IoT enabled Robots used in Manufacturing - new products could potentially cost less in the future, which promotes better standards of living up and down all household income levels
- Hyper-Personalization – with Bluetooth, NFC, and Wi-Fi all the connected devices can be used for specifically tailored advertising based on the preferences of the individual
- Real time alerts in daily life - The Egg Minder tray holds 14 eggs in your refrigerator. It also sends a wireless signal to your phone to let you know how many eggs are in it and which ones are going bad.
Now here are the Bad things:
- There are no international standards of compatibility that current exist at the macro level for the Internet of Things
- No cross-industry technology reference architecture that will allow for true interoperability and ease of deployment
- All the mundane work can be transferred to Robots and there is potential to loss of jobs
- All smart connected devices are expensive – Nest the learning thermostat cost about $250 as against $25 for a standard which gets a job done. Philips wireless controlled light cost $60 so your household will be huge expense to be remotely controlled
And the Ugly part:
- Remember the Fire Sale of Die Hard movie, a Cyber-attack on nation’s computer infrastructure - shutting down transportation systems, disabling financial systems and turning off public utility systems. Cyber-attacks can become common when devices are sold without proper updated software for connectivity
- Your life is open to hackers who can intercept your communications with individual devices and encroach your privacy. Imagine a criminal who can hack your smart metering utility system & identify when usage drops and assume that means nobody is home
- Imagine when you get into your fully connected self-driving car, and with some hacking a stalker’s voice come up from speaker “your have been taken” and you may not find Liam Neeson anywhere nearby, to rescue you.