The combination of cheap computing, ubiquitous sensors and fast, reliable wireless networking is making it possible to track, monitor and optimise everything from transport to personal healthcare. Here are just a few of the industries that stand to benefit from IoT disruption:
Affordable monitoring for agriculture
The Internet of Things gives business the opportunity to put mission-critical services on very low-cost platforms. This means using inexpensive sensors and cheap computing power, coupled with ubiquitous connectivity to track and measure aspects of your business you previously couldn’t.
Agriculture stands to benefit enormously from this technology, making it easier for farmers to know which fields are ripe for planting and which crops are thriving. Sensors on the ground provide near real-time measurements of everything from soil quality to sunlight and rainfall, sending data back for analysis and action. The result is threefold: optimised crops; lower running costs; and higher profits.
Tracking for financial success
The IoT enables deployment of simple software probes of a customer’s digital footprint, collecting social information, buying habits and repayment patterns to come up with a full risk profile instantly – a process that used to take weeks.
Using this deep processing power, credit can be granted or declined in seconds rather than days, fundamentally changing the way liquidity is released into financial markets, as well as opening up the field to innovative new players.
Knowledge for better health
By giving patients sensors monitoring everything from their blood pressure and heart rate to their daily activity, then analysing the data, looming health issues can be diagnosed before they become a problem. People can also use data to optimise their lifestyles, to get the activity they need by monitoring their steps and energy intake and output, and more.
By using wide population data, healthcare can be directed to where it is needed most, keeping patients out of hospital when they don’t need admission, helping people to lead longer, healthier lives and reducing the burden on the healthcare system.
Building smarter cities
Smart infrastructure is providing near real-time data on everything from the amount of garbage in a particular bin to the number of pedestrians using a particular street late at night.
Smart rubbish bins are only emptied when they need it, meaning the routes of rubbish trucks can be optimised, saving time and money. Likewise, analysing pedestrian activity makes it possible to switch streetlights off at night, lowering power costs and increasing the life of each lamp.
And that’s just the beginning. Cars with sensors provide data on congestion to optimise traffic flow via smart traffic lights and intelligent routing, while air-quality sensors provide near real-time information about pollution, enabling citizens with sensitivities to avoid certain areas.
Machine to machine (M2M) communications can help close the gap between supply and demand for Australian businesses. Ask your AE how you too can empower your workforce with Telstra’s M2M solutions.