Monetizing Internet Of Things

There are many interesting ways in which companies are looking to connect devices to the cloud. From vehicles to kitchen appliances the internet of things is already a $1.9 trillion dollar market based on research estimates from IDC.

• Risk Assessment – IoT will help bring increased quantification to Actuarial Science
• Remote Monitoring & Diagnostics – provide the ability to manage “things” remotely and be able to charge for it
• Increased Efficiency – IoT, sensors on people (Wearables) and things will bring efficiency to practically everything e.g. improved sports performance

Included is a fascinating infographic provided by AriaSystems which shows us some of the exciting ways companies are jumping on board and connecting devices to the cloud.