Internet of things (IOT) has transformed the lives, certainly for better aspects in a very short span of time. May it is IT industry, retail business, real estate or healthcare, IOT has acquired its identity in almost every field. Moreover, it even made an effort to bring private and government sector together and work parallel. Its high time for us to study whether 2018 will be an IOT year or something else will replace it? The answer is already clear. IOT has gained a good name in the market as all major businesses are adopting IOT rapidly.
Numerous technologies used by major industries are easily compatible with the IOT framework. Here, it becomes essential for us to study about where all IOT has acquired power and how.
In today’s digital business, almost 90% of the business makers have adopted the concept of IOT, using digital devices to manage their digital business. This implementation of IOT with the digital framework enables their digital business to grow at a higher speed and efficiency.
Majority of the fintech companies are getting integrated with IOT for better services. The transactions and other financial records will be now managed by the connected automated devices. Added features which are going to be introduced shortly will be- creating an account, fund transfer, loans, other transactions will all be carried out through the IOT framed devices.
IOT has made an entry in the healthcare sector allowing services such as automated medical devices with remote monitoring and keep a continuous check on how the physicians and other staff members deal with the patients. Hence, providing reliable services to patients and automating the process for the ease of the faculty at the hospitals.
Outdating the older version of shopping by physically going to a congested place. IOT allows its customers to try the new outfits and make purchases from an easy online platform. Thereby, saving time and cost of the customer plus simplifying the tasks.
AI and IOT have been two different concepts but IOT has been successful to unite both and work parallel. IOT will allow its customers to directly talk with the IOT device using an AI-enabled device. Hence, creating a synchronized ecosystem.
The manufacturing sector has already taken the dependency of IOT services to increase their efficiency and manage all their processes thoroughly. The pre-installed sensors in their devices will bring huge gains in the whole manufacturing process with higher gains.
As the IOT automated devices increase, data of these devices doubles too. To manage this huge amount of data, IOT introduces Big Data tools to manage and analyze the data depending on the current needs.
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