What is the Internet of Things and is it Safe? Simply Explained

Our planet has more connected devices than people. And Business Insider Intelligence forecasts that there will be more than 64 billion IoT devices installed around the world by 2026 – already in 5 years!

You have likely heard the term "Internet of Things" at some point from a colleague, an article, or an advertisement. But the term is broad and can cover an overwhelming amount of information.

To help clarify what the Internet of Things is, and it works, we've laid out some explanations along with application examples and solutions to the arising IoT security concerns.

What is IoT?

The Internet of Things (IoT) is exactly what its name suggests: physical objects, or “things”, which are fitted with software, sensors, and various other technologies that allow them to stay connected and exchange information with other objects or systems via the internet. The personal or business possibilities are endless. A ‘thing’ can refer to a connected medical device, a biochip transponder (for example, in livestock), a solar panel, a connected automobile with sensors that warn the driver about possible issues (fuel, tire pressure, needed maintenance, and more) or any object, outfitted with sensors, that can gather and pass data over a network.

With broadband internet becoming cheaper and more available and technology costs continually decreasing, almost anything that uses an on/off switch technology can be connected to the internet now. Everything from coffee makers, refrigerators, microwaves, doorbells to wearable devices can now be plugged into the internet to provide real-time updates and interactions. This expansion also applies to the individual components of complex machines: for instance, the jet engine of an airplane can be fitted with feedback sensors or the drill of an oil rig. All to monitor how efficiently those components are operating at any given moment.

Today, IoT with the prospects of increasing revenue motivate many businesses, reducing operating costs, and improving efficiencies. They are also driven by a need for regulatory compliance. Regardless of the reasons, IoT device deployments provide the data and insights necessary to streamline workflows, visualize usage patterns, automation processes, meet compliance requirements, and compete more effectively in a changing business environment.

IoT Solutions and Examples

The IoT term is relatively new, but what it refers to has been around for quite some time. Machine-to-machine communication has been used and discussed since the 70’s and was the foundational principle upon which the internet was built. What has really changed recently is the ease with which you can implement these types of services.

An IoT solution can be described as any service that offers a seamlessly integrated bundle of technologies that companies can utilize to problem solve and/or create new organizational value. These services will typically include a wide array of sensors.

Let us take the food industry as an example for IoT solutions problem-solving. When storing food, if the temperature of a refrigerator falls below a certain degree all the food stored there needs to be thrown out, which has big additional costs for the business. To ensure that it does not happen, many restaurants and grocery stores have employees routinely checking the temperature manually and recording the results throughout the day by hand. This solution is costly, human and time resource-consuming, and prone to human error. Using sensors monitoring temperature in real-time and sending out alerts once the temperature falls below a certain threshold is a much more efficient way to solve this problem. Employees can be concentrated on more essential duties and the risk of error is greatly reduced. All while the accuracy of mission-critical tasks increases and cost decreases.

IoT solutions can also boost a company's value. Let us use a car dealership as an example. Throughout the day, a dealership might have dozens of cars that need to be repaired, detailed, or shipped between locations. That requires a lot of assets to keep track of. The dealership could take a person or team to track each asset but that would be just as costly and error-prone as the food industry example mentioned earlier. IoT services can make this process more efficient by adding sensors to the cars that track each one through all potential stages (mechanic shop, detailing, shipping, etc.) and send out alerts once an asset has been in one stage for too long. This would identify inefficiencies much quicker and at a much-reduced cost to the dealership, increasing the value that they bring to potential customers by streamlining their internal processes. These basic examples are useful in understanding what IoT was designed for, but the next logical question is…

What is the current state of IoT solutions for enterprise businesses?

Some most common and accessible IoT application examples include:

- IoT Industrial Solutions

For most large companies, the ability to successfully predict outcomes means taking control over sinking or rising to the top of an industry. By compiling data from a wide array of sensors either on or in machines, machine learning algorithms can “learn” what is normal for a particular machine and detect when something goes wrong. These customized platforms can detect the slightest changes and warn businesses of developing malfunctions much earlier than the situation gets critical. This is done in real-time with the results displayed in a matter of seconds. Being able to predict when a machine needs repairing can save months and millions of dollars throughout the course of the year for enterprise organizations.

Other IoT industrial application examples include free-roaming robots, industrial sensors, automated machine utilization, operator productivity, power management, programmable logic controllers, and more.

- IoT Cloud Solutions

Cloud computing and IoT are two technologies that will remain intertwined with one providing the other a platform for success and growth. Once you have a number of internet-connected devices that need to communicate with one another, someone must compile, manage, and secure all this data for multiple users to access. The big question that arises is: “How will these devices remain interconnected?” The answer is - cloud services. Cloud computing provides infrastructure and several additional core values for IoT solutions such as:

1) Performance
2) Scalability
3) Pay-as-you-go

- IoT Smart Consumer solutions

IoT technology behaves like a team of advisors, assistants, and security. Internet of things applications in consumer areas can vary from quite simple ones such as private security gadgets to high-quality clever domestic automation programs. So, the IoT use instances, devices, and packages for consumers are very varied: remote appliances and smart homes, personal assistants, wearable techs like smart-watches and glasses, connected cars, security systems, personal asset tracking, care for elders, and more.

- IoT Smart healthcare solutions

The Internet of Things has opened a world of possibilities also in medicine and medical care: when connected to the internet, ordinary medical devices can collect invaluable additional data, give extra insight into symptoms and health improvements, enable remote care, and generally provide patients with more control over their lives and treatment. Some examples of healthcare solutions that became possible due to the IoT application could be closed-loop (automated) insulin delivery, connected inhalers, ingestible sensors, wearables to control asthma, depression, Parkinson’s Disease, etc.

Although the benefits are there, tech providers will need to demonstrate that they take privacy and anonymity seriously when they are handling and applying user data and that they are only using it for strictly necessary purposes while taking the utmost precautions to maintain user privacy.

Safer IoT Solutions into 2021

As we have recently witnessed, a major concern in the industry is the fact that all networks contain critical vulnerabilities that can lead to service disruption. Whether we are talking about 2G, 3G, 4G, or even 5G technology, connectivity service providers (CSPs) need to be able to ensure confidentiality, data integrity, accountability, and availability to support the IoT service offerings.

From increasing the safety of roads, cars, and homes, to fundamentally improving the way we manufacture and consume products, IoT solutions provide valuable data and insights that will enhance the way we work and live.

Success depends on ensuring the integrity and confidentiality of IoT solutions and data while mitigating cybersecurity risks.

Although the Internet of Things is promoted by manufacturers as the means to make the day-to-day both individuals’ and companies’ experience more streamlined and the track of connected devices easier, there are pros and cons that must be considered prior to implementation. This is often the case that user privacy and data security issues occur due to the number of malicious actors on the internet. According to a recent study, almost half of all companies in the United States that utilize IoT devices were hit by a security breach last year. Clearly, there is a growing need to ensure that IoT devices are secure. So, what are some of the best ways to address this issue?

1) Gather Information (complete relevant research on the security issues that pertain to your unique IoT solution)
2) Secure Your Network (implementing traditional endpoint security features, anti-virus, anti-malware, firewalls, other intrusion prevention, and detection systems)
3) Authenticate Users (adding multiple user agreement features as two-factor authentication, digital certificates, or biometrics)
4) Data Encryption (utilizing cryptographic algorithms that give both the company and end-user of an IoT device additional piece of mind that their personally identifiable information is safe and secure)

Conclusion

In short, the Internet of Things refers to the rapidly growing network of connected objects that can collect and exchange data in real-time using embedded sensors. Thermostats, cars, lights, refrigerators, and more appliances can all be connected to the IoT.

We are currently just scratching the surface on what IoT can do for businesses. In addition to monitoring machines, IoT solutions will continue to improve their ability to monitor us, thanks to the use of wearable biometric devices. Our ability to predict outbreaks of diseases in addition to proactively addressing health issues will become more accurate and refined.

IoT solutions are also providing first responders with the information they need to prevent crimes or accidents even before they happen. Data from noise sensors, cameras, and even trash bins can be fed into machine learning algorithms to uncover preconditions for accidents or crimes. Of course, there are privacy concerns about using this data in law enforcement. It is only a matter of time to find the right balance.

Much of the major societal changes we see today have been driven by technologies that incorporate IoT. This looks to be the norm as we move into the future. We are limited only by our imagination when it comes to what we can accomplish with the use of IoT.

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