It was predicted long ago that the internet of things will change the perspective of things, living, and working practices. It will revolutionize the interactions between human and machines. The future belongs to machines and robots. Internet of things will prove as a third big revolution in human history followed by the industrial revolution and technology revolution.
So what is IOT actually? When we say Internet of things we put emphasis on the thing and then use the internet as the connectivity bridge medium between the things. Some people also call it “internet of everything” OR “internet of all the things”. It works as long as there are devices connected to the internet and minimum telecommunication infrastructures supporting it. The essence of IOT is to combine real-world objects with the virtual digital world.
When we say objects we say all the things around us, vehicles, clothes, metals, shoes and devices too. This is an incredible advancement in technology that will enable a business or user to connect with infinite no of devices at the same time. In another word, it is the network of different things that will exchange the data via technology using sensors and APIs.
The data subjugated between intelligent devices will be used in making real-time decisions. Big data concept will come into play to take part in the business world. Though, IOT is much more than just internet and connectivity of things. It connects things to things and things to humans too. Together all this intelligent data will make decisions more accurate and customer-oriented. Then the whole world will become an interesting global village. This data opens opportunities for significant value creation and revenue generation.
IOT and business opportunities
This technology necessitates new business opportunities like virtual business models by using VR technology. Corporates look at IOT like the more technology advances the more benefit s to business and ultimately mass revenue generation.
So below are some opportunities provided by IOT to the businesses to cope with modern world challenges.
VR hire-boom in business tech
Though it is clear without any doubt the virtual reality in acceleration in the business world, how?
As AR and VR technologies are interrelated directly and to many business categories like bio food, biotech, video and gaming and thus expanding the business beyond physical objects. To revolutionize the concept for users “try before you buy” remotely, the business world is gaining IOT and virtual reality concept into their business models.
To sell things online from any corner of the world is a blessing in disguise because a customer wants to touch the product before purchasing it and IOT has solved this trouble for businesses. Because it will enable the customers to see 3D virtual images and prototypes from a place far away.
Even nowadays any small business instead of purchasing costly and heavy-duty VR technology can hire VR devices from somewhere specialized services providers. After IOT proper implementation worldwide, VR hire will make rise within some days.
Services based business and IOT
Education, training, tourism and many services based businesses will use the internet of things for the production of their services. With expectations to reach a larger trainee, larger tourism customers and larger student populations businesses will try their best to use the internet of things. Computer simulation and virtual connectivity of things will provide the low cost but high revenues from worldwide customer’s base.
The media industry has to travel through miles and miles to get accurate data and information. But with the use and proper implementation of this technology, they will not effort hard enough to get ground realities from trustworthy sources.
Technology hiring- IOT in the Business world
As this rapid expansion in technology business will become virtual and their existence will be limited to just head offices monitoring the digital world. Then to make business decisions and business meetings, business processes and to test the prototype of products businesses will hire the technology. Technology hire products like Laptop Hire will become another popular phrase in the next 20 years when everyone will just hire technology like today’s subscription-based service packages. To acquire technology personally will obsolete but hire technology for one particular need will become a reality.