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The Internet of Things is about unlocking value from a device that can be powered by sensors

Let us face it, there are many technological innovations taking place right now and we're not short of buzzwords.

Some years ago it was the cloud, last year was Big Data and this year it seems to be the Internet of Things. Beneath all the noise, what matters is whether these things are truly game changers or just noise. Let's take a look at the reality.

Back in the days of our ancestors, the Neanderthals, there was probably a lot of hype around as well. New spear design, new flint stones (not the cartoons), or arrowheads must have made waves. This passed down the ages and possibly a few thousand years ago created hype around things like the invention of the wheel and irrigation systems. A few hundred years ago, innovation moved more into warfare and technology inventions such as better weapon design, the invention of gunpowder and maybe better ways to identify disease.

Fast forward to 2016 where the Internet is nothing new for the modern world yet there are significant parts of the world and even a majority of the world's population that does not have access to it.

What makes the Internet so amazing is the sheer amount of innovation it has kicked off by creating an ecosystem powered by technology, well the Internet. My 14-year-old nephew does not know what a non-internet world would be like. The Internet of Things or IoT is one of the things that has been spun off the Internet. As technology evolves, so do other aspects that are powered by it. Moore's Law stipulates that technology will roughly double every two years, but we are now seeing the law being broken by an even faster development of technology. It should be no surprise then that a technology like the Internet of Things may have the potential to be the fast-growing technology, if that's what we are trying to establish in the first place.

How do we evaluate the importance of technology?
This is the simplest explanation of all. The pure magnitude of what IoT can accomplish or help us accomplish is what makes it as big as it is perceived to be. Does this mean that IoT could be bigger than the invention of electricity or say the wheel? Well, if that's the way we look at it, potentially yes, but in a different way. Let me explain.

The impact of something can be calculated by a few indicators. It could be how far and wide reaching the effects could be. Consider the example of climate change. Climate change in any capacity has the possibility of affecting a wide range of geographical regions, even the entire world. How about the invention of the electric bulb? For a world that ran on coal and kerosene lamps, the invention of an illuminating object that provided clean energy was revolutionary. More revolutionary was the ability to scale by being able to transport electricity to far places with an electrical wire system.

Last example. Penicillin. In a world that was being devastated by high mortality rates through infections, Penicillin was the absolute need of the hour that could save not tens but millions of lives. Probably keeping these in mind, the invention of ketchup was a far less impactful event for the larger population (although ketchup fanatics may share a different opinion).

How does IoT fit into our world?
The Internet of Things is a unique technology framework. It's powered by the Internet and yet is not a 100% software-based technology. IoT transposes over multiple domains of interaction and usage. On one level it's fueled by programming languages, code and software overall, and yet on another level, it manifests itself through physical devices that behave in a certain way based on what the programming languages, code and software asks them to do.

IoT devices as such fall into many categories that may help address problems, or be applicable in many areas. Let's look at a few examples.

Specific IoT applications
Lynda has just had a bypass surgery. Her doctor has asked her to take complete bed rest in order to recover. Lynda's problem is that she lives alone and may not be able to take care of all her needs. Would IoT be of any help to her at all, if those devices existed? Maybe. In an ideal IoT-powered world Lynda could have access to a few things that would make her life easy.

To start off with her clothes would be IoT-enabled so that they are constantly monitoring her body temperature and adjusting the level of comfort by either warming or cooling. She could also be sleeping on an IoT bed that can measure how well she is sleeping and if her sleep pattern is okay. The bed may also be able to adjust cushioning based on whether Lynda needs to have a softer bed while she recovers. Her room temperature and lighting would also be IoT-enabled and would maintain the right temperature and humidity, and adequate lighting as needed. In the kitchen, her refrigerator would know what's inside and what she is running low on. The refrigerator could order home-delivered groceries or even some healthy takeout based on her preferences.

Lynda's doctor may be able to consult with her and monitor her progress through a special wearable that has some advanced diagnostic features especially for heart surgery patients. Her medical team would be able to monitor her vitals and monitor her remotely when they want and as long as she needs care.

All these devices have one thing in common - the idea of the Internet of Things. This is where everyday devices can be connected to the Internet and used to perform a task, or automate something that can be improved. This also paves the way for better connectivity, constant monitoring, an action and a reaction where the use of IoT is more than just being able to connect to a device and make it perform an action. The Internet of Things is about unlocking value from a device that can be powered by sensors that measure a variable and use that information to make an informed decision, and perhaps send back a command for the device to take action with.

The future of IoT
The Internet of Things today is a framework being used by providers to start a revolution that can have unlimited implications. Gartner, a leading analyst firm, estimates that by 2020 over 21 billion devices will be connected to the Internet.

Are these devices at the caliber of the nano-robots? Not all, but many of them may be more complex than just a simple vacuum cleaner. Some of the uses of these devices will span productivity, efficiency, better healthcare, faster processes, better cities, more engaged audiences, new educational models, and more. How the industry shapes in the next five years is not very hard to estimate, given all the data and information we have access to; however, as IoT matures we will see rapid development of new technologies and applications.

Keep in perspective Moore's Law, which is not 100% applicable today because the speed at which technology is being developed is five times faster than Moore predicted. What is interesting is to realize that the rate at which technology is being developed is quickly increasing as well. It would not be a surprise if industry analysist update their estimates to say that 30, 40 or 50 billion devices will be Internet enabled by 2020.

What is next?
The Internet of Things is not a hype that will fade away. Akin to other technologies that occupied the top spots in the last few years, cloud technologies are still a highly developing area of business and, in fact, it would be impossible to have a true IoT device without the cloud. Big Data, another Internet-related technology, is fast growing to be one of the top ways for humanity to analyze massive amounts of data in a short span of time and derive knowledge that can be used to make key lifesaving decisions in many cases.

More to come on that next time. Let's learn more about IoT and engage in meaningful conversations that can help create a unique perspective, address key needs and make the world a better place through technology.

About Ian Khan
CNN Futurist, Forbes Contributor, Author, 3 Time TEDx Speaker and Technology Futurist, over the last 20 years Ian Khan has had the privilege to serve the needs of over 5000 organizations by fueling their growth through technology solutions. He has helped a diverse set of businesses ranging from Technology Companies, Oil Companies, Power Generation & Renewables Operators, Microsoft Ecosystem Partners, SAP Customers and Partners, Healthcare Providers, Manufacturers, Facility Operators, Startups, Educational Institutions, Nonprofits & associations and more. Ian’s experiences with these organizations led him to a unique position of being able to identify the common challenges of growth for all these organizations. The bottom line as he found out, is that we all are hungry for success and want to grow and make a difference. Where we fall short is by failing to understand our environment and taking the right action within that environment. After 20 years serving the needs of the industry Ian’s natural pivot was to answer his calling and help organizations at a broader level understand what tomorrow brings. His work and study of all these organizations brought forward very unique perspectives that he now share through his work. Today, hands down, we live in the great time for humanity. Technology is a great thing, but it also has its victims. Many organizations of tomorrow will fail under the pressure of a fast changing world, much of which is fueled and driven by technology. Ian’s mission is to help organizations avoid that pitfall, and propel themselves into success in today’s era and go from digital disruption to digital transformation in the fastest and most sustainable way. This is the only way, according to him, we can together create limitless value, create solutions that are faced by us locally as well as by others around the globe, and make the world a happier place. Today Ian’s work spans working with people by delivering keynotes, consulting and by promoting his 7 –Axioms methodology through his book and workshops. He is also working on an ambitious project of releasing a documentary in spring of 2018 called Industry 4.0. Industry 4.0 will capture the thoughts and insights of some of the world’s leading thinkers and help us understand the 4th Industrial Revolution, Its Impact, and how we can all be have an opportunity to be part of the emerging future and make the right choices. For more information please visit www.iankhan.com

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