When you hear of the internet of things (IoT), think of all smart devices that you own or have come across in your life. Today, almost every person uses a smartphone, a laptop or a tablet. In developed countries like America, people are already getting used to the idea of smart homes, where almost every appliance is connected to the internet.
Internet of things, commonly referred to as IoT, stands for the interconnection of many technological platforms and devices using the internet. The main benefits of IoT are brought by the data that is collected from all the interconnected devices. Depending on how the data is used, life is improved at an individual level, and the cost is reduced for business owners. Even governments are improving in service delivery by embracing technology and IoT.
It is due to IoT that entrepreneurs have taken a significant interest and invested in the future opportunities that are about to be revealed as technology continues to grow. Jason Hope is one such entrepreneur who is a true visionary and futuristic person. Due to his great appreciation for technology, Jason has a broad understanding of the benefits of IoT to different sectors.
Benefits of IoT in Your Daily Personal Life
The technology has reached a point where your dishwasher or the washing machine will be communicating with the manufacturers over the internet. From this kind of data transmission, you will be alerted when your appliances are about to break down. This will reduce a lot of inconveniences for consumers. Today, you enjoy remotely controlled security systems as well as lighting systems in your homes.
How Will Businesses Benefit?
First, companies will reduce the cost of production by a large margin. The smart machines and the vast amount of data that will be collected and analyzed by machines will reduce the human labor required. The data will also be used to improve efficiency. Human error has been linked to the many losses companies make. With IoT, the losses too will go down.
Different brands will effectively improve customer service as they gather data from the machines they have sold to the customers. The data transmitted to the companies’ servers will give companies’ service crew an idea of what could be causing the failure in their devices. Customer service will be faster and efficient.
Use of IoT in Government
With automation of some of the repetitive government services, fewer employees will be needed. Even the ones who will work will have a chance to work fewer hours or even remotely through telecommunication. Services will be delivered faster, different claims or complaints of all citizens will also be processed faster too. With low human labor, taxes will go down.
Jason Hope did not study any technology related course. He is a businessman who got his BS in finance from the Arizona State University and later got his MBA from W.P. Carey School of Business. Hope went directly into the tech business and has been a success since he set out. He is a generous contributor to institutions such as SENS Foundation, who invest their money in finding solutions to daily problems by utilizing technology and IoT.