March 13, 2015

Industries That Can Be Disrupted Because of ‘Internet of Things’

By Sameer Bhatia

Disruptions Internet of Things

The Internet of Things or IOT is a very popular term these days which requires due diligence as we shall see. In essence, it is a term which is used to refer to wireless devices or the network of wireless devices equipped with the technology to communicate without any human interference.

This IOT technology has now been incorporated in the manufacturing industry, which makes use of machine to machine (M2M). More and more industries are now shifting to this new method, mainly due to quick results such a concept is famous for providing when it comes to modernization.

Listed below are three such industries which have adopted the internet of things and now have become ‘smarter’. These industries are now filled with new opportunities for aspiring entrepreneurs, who make use of technology to improve services and communication.

1. Healthcare

The healthcare industry has a lot to benefit from this concept since it is driven by its ever increasing demand for improvements in safety, care, and health.  Hospitals now have the capability to collect, record and analyze important data, in a quicker and more efficient way, mainly due to Wi-Fi enabled medical devices and tools. This in turn has improved the productivity of medical staff, in terms of treatment and diagnosis. It has also improved the standards of care provided at hospitals.

Apart from this, the concept of wearable devices is gaining popularity, especially among the elderly and among those who have been diagnosed with a chronic illness.  This is because the medical staff is alerted with just the push of a button, through these devices.

2. Manufacturing

Industries pertaining to manufacturing and machinery were the first ones to benefit from the technology of the Internet of Things. In the current scenario there are a large number of wireless sensors and devices which are network linked to factories, around the globe. The day to day operations are made ‘smarter’ in multiple ways, mainly due to these industrial networks. Businesses make use of the sensor based technology in order to implement a ‘smart manufacturing system.

King’s Hawaiian was able to increase its production of bread by an extra 180,000 pounds, on a daily basis, after it incorporated technology based on IOT. The employees were able to access both real time data and historical data, in order to monitor performance, once they installed a new factory with 11 connected machines. The system can be managed and controlled from a remote operations center, as it is connected to the internet.

3. Retail

The new concept of online shopping provides considerable advantage as opposed to the traditional brick-and-mortar stores. It is mainly due to this reason that the giants of ecommerce are growing at a great pace. Retailers can boost sales significantly with such technology by keeping track of their customers and their inventory, in real time. The same can be said of brick and mortar stores who are now more reliant on customer feedback in order to create a more personalized buyer experience.

As a result of this, these stores are now able to create a better shopping experience for the customer; details like shopping history, location and any other information regarding target demographics allows them to improve customer experience significantly.

By Sameer Bhatia

Sameer Bhatia

Sameer is the Founder and Chief Executive Officer of ProProfs.com. He founded the company based on the vision that knowledge should be freely available to people from all walks of life.

Sameer is an ed-tech veteran and has been a serial internet entrepreneur. His past startups have been in e-learning and online retail along with a niche search engine to compete with Google. His academic background is in technology with a Masters in Computer Science from the University of Southern California (USC).
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