The Internet of Things (IoT) is a new revolution to the Internet technology that has introduced the term “Smartness” to all IT infrastructure. It is not restricted to residential areas, but every industry is now deploying its solutions across its multiple business operations. It has leveraged the most in the health care industry for its effectiveness and the efficiency that it brings.
What Is the IoT?
It comprises of two things—connect everything and monitor. IoT devices come with a sensor that is connected to the Internet and can transmit data with minimal human interaction. The smart activities are performed by connecting to the individual IP addresses. The IoT enables seamless connection and allows magical life that works on turning buttons remotely. But the benefits that it brings to every segment, combined with the amount of risk of being connected to the Internet brings as many cons as pros.
It has the potential to empower businesses in taking their service to the next level. However, when 20 million devices get connected over the next decade, the security risk of IoT becomes equally important as the rewards.
IoT provides remote access to every electronic device that is connected to it. It connects, stores, monitors, records, and re-uses the data to create a better future.
- Access to Information
Indeed, more information is always useful to make better decisions irrespective whether the decision is about buying your daily groceries or a lifetime investment. It provides a tool to share knowledge. With the IoT acting as “Superficial Intelligence,” it connects you to different parts of the world and gets you access to the information you are seeking.
- Improves Efficiency
It allows electronic appliances and devices to communicate among themselves to provide better solutions to us. The task of collecting information from one device and feeding it in another device can be automated now. By allowing the data to be shared among various electronic devices and then giving us the final output, it is improving the efficiency of our systems.
- Increase in Productivity
Productivity gives a positive impact on your business profit. With the help of it, in time, training can be provided to employees remotely, improving their efficiency and minimizing the scope of mismatch of skills. All these results have increased organizational productivity.
- Connection via Communication
It establishes a connection between physical devices and serves as a channel of communication between them. Machine-to-machine communication promotes transparency with improved quality and reduced inefficiencies.
- Automation and Control
When electronic devices are controlled and connected digitally via a wireless infrastructure, the machines can communicate with each other without human intervention. The digital automation and control of machines have led to prompt output with less effort.
It is growing at a massive speed, and with so many devices in every household, it will soon become difficult to control its popularity.
According to Helsinki, Finland-based F-Secure, a cybersecurity company citing research from Gartner, over the next 2 years, the number of IoT devices entering households will climb steeply from 9 devices per household (currently) to 500 by 2022, with IoT connectivity being bundled into products whether people want it or not.
- Dependency on Technology
The advancement in technology and IoT is making life simpler; many of us are depending on digital devices for every little thing. It is increasing this dependency even higher due to its sophisticated solutions. No device is free from hitches, and any fault would result in massive data loss. IBM, along with Threatcare, identified 17 vulnerabilities (of which 8 were critical) on smart city systems that were deployed across the world. The vulnerabilities were mostly found in elementary flaws in security design, such as leaving systems unattended and accessible to amateurs or those with malicious intentions. With the number of IoT devices growing in the personalized segment, users and manufacturers of IoT devices shall challenge their standards of security.
- Compromising Security in Privacy
- Reduced Employment Prospects
As IoT automate processes and reduces human intervention, the requirement of manpower reduces, pulling down the employment prospects. According to Softonic, IoT will majorly reduce the employment prospects of mundane or repetitive jobs and would increase the employment potential in technologies, such as artificial intelligence.
- Fear of Failure
No doubt its solutions simplify many processes, but the entire process is complex creating a possibility of failure. In February 2017, a major security concern was identified in CloudPets, a popular Internet-connected toy for kids. Security experts, after assessing the flaw, declared that the voice messages exchanged between kids and parents could be recorded by the toy and easily accessed by cybercriminals. Further investigations revealed that stuffed animals can be turned into potential remote surveillance devices.