As IoT makes its way into multiple aspects and domains of our lifestyle, people are wondering if we can go past home assistance and connected house appliances. In 2019, we’re at the forefront of seeing some of the best technological advances that are set to make a debut in 2020.
Let’s go through some of the IoT trends and challenges enthusiasts can expect to see by 2020.
Powered with AI for Data Collection
One of the major trends experts expect to see is the implementation of AI to transform IoT-connected devices into decision-making assistants for organizations and even individual consumers. Think of it this way; IoT comprises billions of devices connected to the cloud, and each of them acts as a data collector that helps in filling a central cloud database.
And, if all connected devices are gathering crucial data, what good is it if this data isn’t used to make better decisions? That’s where AI can be a big help. Using a machine learning system, organizations can decipher insights and trends from this enormous data reservoir to improve countless areas involving decision-making aspects in our experiences.
From marketing to management, from healthcare to safety; it’s all there. The aim of IoT development should always be an intelligent and self-learning system. Whether it’s a fridge, car, or smartphone, they’re all collecting data. Multiply that with billions of users and there you have it, a massive load of data that’s enough to train an AI system.
Convergence with Big Data
Although Big Data and IoT are two completely separate concepts, they do intertwine in certain ways. For example, both industries experienced exponential growth within the last few years. When companies start harnessing the abilities of both technologies, day-to-day processes like energy consumption can be tracked, monitored, and data can be stored to derive trends and comparisons in the future.
However, companies need to start by taking advantage of all the data they’ve accumulated so far. This means implementing the right technologies to scour through large deposits of data. After data stores are analyzed and sorted, companies can rely on new patterns to enhance productivity and reduce expenditure where necessary.
More Industrial Use of IoT
Consumer-targeted IoT will eventually take a hit and it’s expected that within the next few years, funding growth will decrease significantly. Instead, companies will start relying on industrial IoT applications to develop new infrastructure.
Take BetterView and Veniam for instance. The risk management and data transferring startups embody all the benefits of deploying new forms of technology around urban centers. In fact, expect to see industries like transportation, agriculture, insurance, telecommunications, and even health, incorporate IoT in their latest strategies.
Decentralization Efforts Using Blockchain
Fundamentally, blockchain is cryptographically secure because it follows a distributed ledger system that allows data to be transferred between parties in a way that’s secure. Meanwhile, traditional systems incorporating IoT have a centralized architecture. Using analytics, information is transferred from the device to a cloud, and then back to the device.
Now that billions of devices are set to join the IoT network within coming years, the framework’s current state doesn’t guarantee scalability and leaves users vulnerable to cyber threats. A centralized architecture exposes potential weaknesses in the network, and it can become ineffective and expensive for businesses to have their transactions checked by a third party.
With blockchain, smart contracts allow IoT-connected devices to operate safely by means of agreements, which can only be followed through when certain requirements are met first.
The Rising Trend of Smart Cities
More countries are aiming for creating their own versions of smart cities connected via the IoT, by 2020. Cities like Boston, San Francisco, and Singapore have already started the race of investing in IoT to develop smarter environments.
These implementations focus on being part of people’s lives behind the scenes; day-to-day city operations that most people don’t notice. Adding IoT to the equation allows these business hubs to leverage previously existing tools used to collect data, like cameras and sensors.
The plan isn’t only to achieve smart-ness through IoT but to make genuine developments that create a vast data reservoir by collecting it from private organizations, individuals, and public offices. Using this large reserve of data, these smart cities can quickly respond to changes and improve sustainability and safety.
Better Router Security to Prevent User Data from Getting Stolen
Many homes and even small businesses have routers, most of which don’t have some kind of security installed, making them highly susceptible to cyber threats from hackers. Now that many tech conglomerates are entering the IoT industry, they’re developing advanced routers with better security features.
Hackers are always on top of such enhancements, so a simple firewall or enabled password isn’t enough to keep routers safe. Take the Norton Core Router, which offers unparalleled security with malware and antivirus features. From DNS to data encryption, the router can do it all, and this advanced technology will soon be in the hands of consumers, allowing them to maintain privacy and security.
More Appliances on the IoT than People
Previous studies show that the number of IoT-connecting appliances was set to increase to 3.6 billion by 2019, and this number is set to increase steadily as more consumers and businesses embrace IoT. The McKinsey Institute explains that IoT will have an enormous impact on the world economy.
They’re already in use for managing everything, from setting up doctor’s appointments, managing energy consumption in the home, and maintaining home security. If we were to count each device that incorporates IoT technology in one way or another, we’d have almost 50 billion devices by 2020.
IoT development doesn’t occur overnight, but even though we’re less than a year away from 2020, we mustn’t underestimate that advancements are continuing at an incredibly fast pace. With many industry leaders already leading the way for change, the audience can only expect more to come by next year.