purifierinforms that, the water purifier is Wi-Fi enabled. When theÂ purifyingÂ agents deplete in the machine it connects to home Wi-Fi and informs the service agents of the company.
All above examples are from products being sold in India.
- Future: Gartner, the technology researcher has projected that by 2020 the IOT business across the world would increase to USD 1.9 Trillion. In rupee terms at current exchange rate (INR::UDS=67.50::1) it comes to a staggering Rs. 1,34,0,00,00,00,00,000.00 or keeping it simple virtually equal to Indiaâ€™s GDPÂ today.
- Applications: Some of the applications are as follows:
- All home appliancesto be connected and that shall create a virtual home.
- Home owners can keep track of all activities in house through their hand held devices.
- Home security CCTVis also monitored through hand held devices.
- Office machines shall be connected through net.
- Human resource managers shall be able to see how many people haveÂ had a cup of coffee from vending machine and how many are present.
- How many printouts are being generated through office printer?
- Governments can keep track of resource utilizations / extra support needed.
- Under SWACHH mission government can tag all dustbins with IOT sensors. They (dustbins) generate a message once they are full. Being connected to wifi, they can intimate the cleaning supervisor of Municipal Corporation so that BIN can be emptied.
- As a research study, individuals have got themselves implanted with electronic chips in their bodies. This chip allows him / her to connect to home / office wifi. Once connected person can enter home / office and perform designated function. This chip becomes individualâ€™s authentication token.
- Internet of thing is an evolving phenomenon. The nature of risk is carries isÂ based on academic logics and available practical experiences. The risk listed are those which are most discussed for IOT today.
As technology evolves issues shall crop up. The risk dueÂ to IOTÂ has various facetsÂ toÂ it:
â€˘Risk to Product manufacturer
- Manufacturers may be out of business in few years if IOT becomesÂ a necessary product feature.
- Data storage and analytics: The manufacturers will to ensure the huge datagenerated from IOT devices is kept secured. Hacking / loosing this data may be distractors for entity as well as the individual to whom it relates to.
â€˘Risk to user of these products
- Security: This is the greatest risk due to IOT. As home devices / office equipmentâ€™s are connected to network they shall be hit by all network related risks, including hacking, virus attacks, stealing confidential data
Above illustrates the big risk IOT may create for individuals.