WHAT IS INTERNET OF THINGS?

IoT meaning Internet of Things is the latest buzz word in today’s time and context. It's a concept that not only has the potential to impact how we live but also how we work. The term was first coined by Kevin Ashton in the year 1999 while working for Proctor & Gamble. In technical terms it can be defined as networked interconnection of everyday objects, which are often equipped with ubiquitous intelligence. A “thing”, in the Internet of Things, can be a person with a heart monitor implant, a farm animal with a biochip transponder, an automobile that has built-in sensors to alert the driver when tire pressure is low or any other natural or man-made object that can be assigned an IP address and provided with the ability to transfer data over a network. These smart devices have the capability of interacting with humans and making our life simpler than one could imagine. The communication between human and smart objects is made possible by embedded systems. IPv6’s huge increase in address space is an important factor in the development of the Internet of Things. In simple terms IPv6 is used as names to smart objects to identify them and help them interact machine-to-machine. Although the concept wasn't named until 1999, the Internet of Things has been in development for decades. The first internet appliance, for example, was a Coke machine at Carnegie Melon University in the early 1980s. The programmers could connect to the machine over the internet, check the status of the machine and determine whether or not there would be a cold drink awaiting them, should they decide to make the trip down to the machine. We are making progress at great pace to achieve what was once deemed impossible. It might prove to be the next best thing after Internet. But with every great invention or theory comes the need to address many important shortcomings which in near future can cause more harm than good. The major concerns that need to be addressed before it can be applied in our daily lifes are: protection from hackers, respecting ones privacy and identity, cost issues etc. It is estimated that there will be 34 billion devices connected to the internet by 2020, up from 10 billion in 2015. IoT devices will account for 24 billion, while traditional computing devices (e.g. smartphones, tablets, smart watches, etc.) will comprise 10 billion. Nearly $6 trillion will be spent on IoT solutions over the next five years. Developed countries like UK have already started allocating budget for IoT solutions. Businesses will be the top adopter of IoT solutions. Three ways IoT can improve their bottom line by 1) lowering operating costs; 2) increasing productivity; and 3) expanding to new markets or developing new product offerings. Internet of Things (IoT) is changing and transforming everything from business to life. Imaginations are boundless and opportunities are infinite. Everything is being wired up or connected wirelessly- architecture, energy efficient sensing, secure networks, quality of service, new protocols, participatory sensing, data mining, GIS based visualization, cloud computing, and international activities. It simply means that powerful information will be at our fingertips.