Think you know your Internet of Things? Reckon you’re a cut above the rest? Take our monthly to find out if you’re an IoT expert!
The Internet of Things has been labelled by some as an $19 trillion market opportunity, and it is increasingly moving beyond the hypothetical and into the practical. As a trend, it is moving beyond the hype to a time where businesses are actively deploying these technologies.
You might like to read: What exactly is the Internet of Things?
Industries embracing IoT
For example, here at IoB, we’re seeing manufacturers use these technologies to improve production time, prevent equipment failure and even move to a service-based model where assets are continually monitored and maintained. We’re seeing retailers leverage sensors and beacons to track customers, ensure goods are in the best condition, and banks use IoT to learn more about their customers – and how they can cater for them.
In addition, healthcare providers are increasingly looking to telematics solutions and wearables to monitor patients from home, while insurers see an opportunity here to help people become ‘better’ risks – and thus significantly reduce the likelihood of them having to pay out on a claim.
Then there are those surprising case studies, from Indonesian cocoa farmers using IoT sensors to tackle the challenges of climate change, to connected cows, ships and even the Internet of Things changing the beer you drink.
However, the path to IoT adoption is not always straightforward. Numerous industry commentators have highlighted the business challenges, such as getting your board to support your IoT project, as well as the technical – like ensuring good information security, privacy and data management.
There are also the issues around interoperability and standardisation.
Onto the serious business…
So, how much do you really know about IoT? It’s time to find out…
Thirsty for more IoT questions? Go wild and take last month’s quiz as well.
You might like to read: Businesses ready to invest in the Internet of Things