Praveen Ramanathan

President & CEO

What Makes the Internet of Things (IoT) so New and Revolutionary?

President & CEO

The technology space is abuzz with the Internet of Things (IoT), but what is it about IoT that makes it so new and revolutionary and maybe – the next “big thing”?

I like how GE’s Marco Annunziata puts it in his Ted Talk, “We are moving to a world where the machines we work with are not just intelligent; they are brilliant, they are self-aware, they are predictive, reactive and social… (they are) machines that can see, feel, sense and react.”

The Wind Farm example Annunziata used during his Ted Talk is a perfect illustration of the capabilities of a System of Connected Things.  Each turbine has the ability to sense a change in the wind then communicate with other turbines to change the angle of each blade in real-time for maximum performance. This real-time change allows electricity to be generated for a fraction of the cost.

It’s these real-time adjustments that make IoT so revolutionary. A system of connected Things gives an organization the ability to better compete by:
  1. Driving better business decisions
  2. Growing service margins
  3. Enhancing data aggregation
  4. Creating predictive maintenance plans
  5. Improving customer service quality
  6. Delivering new monetization models
In my last post, we, discussed the reasoning behind the reportedly $7 billion to be invested in IoT over the next 5 years. But to really understand the impact of these investments we must start by defining what IoT is in the first place. There is no common definition and the actual perspectives can be differing, depending on whom one asks. At Ayantek, we offer a simple definition for IoT:
“A system of connected Things capable of one-way or two-way interactions using a common framework, designed for systemic intelligence to achieve greater human good and / or for a broader business purpose.”
In my next post, I will be elaborating on this definition and also covering industry use cases around IoT.