Internet of Things
The Internet of Things (IoT) has given us various technologies that have impressed the world, particularly business owners. It has driven significant achievements in healthcare, manufacturing, devices and industry.
Here are some of the most innovative examples of how businesses are using the Internet of Things technology to drive their business further.
Devices
One of the most accessible and fascinating applications of IoT is the wealth of smart devices on the market. These include everything from phones and watches to safety systems and thermostats, all of which offer unique benefits to improve the quality of life.
In the realm of safety and security, the smart lock is a notable example. This application has the potential to replace keys and locks by allowing only certain people access to homes or buildings. The system is controlled by a smartphone, but a password on a keypad is available to open the door.
Retail and supply chain management
With IoT, retailers have full control over supply chains without human intervention, so owners can keep accurate inventory records, oversee staff members, and control logistical and merchandising expenses.
Another example of IoT in retail is an anti-theft smart tag that’s attached to a product and releases only after payment is made.
Industrial
IoT technologies can provide machine operators with an instant, comprehensive view of the key indicators of the health of heavy equipment, such as failing parts and fuel levels. The repair information is sent by the augmented reality app, which reduces the time spent troubleshooting and correcting malfunctions.
Though these are early examples, they show how the Internet of Things’ innovative technology is revolutionising a wide range of industries, and we’re only scratching the surface of this technology’s capabilities. When combined with other emerging technologies, such as artificial intelligence, augmented reality, virtual reality and blockchain, businesses have the ability to unlock untapped revenue, gain competitive advantages and develop higher quality products