What Is Internet of Things? What Are The Advantages And Disadvantages?

IoT is the Internet of Things. This Internet of Things is constantly becoming the foundation and revolutionary for other modern technologies, such as AI, created by the respective AI development services.

There are many opportunities for IoT application development. The evolution of the Internet of Things is difficult, which is why numerous organizations have not been successful.

However, the IoT application plays a very important role in everyone's life and makes everyone's work easier. So many companies are trying to implement this technology. The price of developing IoT applications depends on the features.

In its current state, the Internet of Things has already grown an essential element of the lives of many people. Thanks to the development of broadcast systems, the constant growth of the bandwidth of the Internet connection, and the introduction of different related methods, a person surrounded himself with a network infrastructure that helps him and solves problems that he had to solve on his own. According to many reports and forecasts from analytical companies, the number of connected devices will continue to grow. Along with this, the concept of the "Internet of Things" will also expand. Already now, 15 years after the birth of IoT, the Internet of Things has become one of the main trends in high technologies – now you can hardly find an IT organization that does not have extensions and projects in this area.

Many people see the Internet of Things as a potential revolution for both saving and social services. But along with the excitement at the rate of technology development, questions and problems arise. It's about confidentiality.

Interconnection of consumer devices on the Internet of Things

We wrote about the purpose of the Internet of Things in the market including everyday life here. The future is painted in bright colors, however, as in many cases, there is another side of the coin.

Advantages of the Internet of Things

The advantages of applying the Internet of Things can be classified into several main categories: increased productivity, decreased expenses, increased capital allocation, plus enhanced client relationships. This is also a chance for trade (not just a large one) that can get really big money on the Internet of Things.

According to P. Kotlera and J. E. Heppemanna in How Smart Connected Products Are Transforming Competition (Harvard Business Review), the benefits of this revolution can be divided into 4 areas:

• monitoring;
• optimization;
• power;
• independence.

Monitoring includes the capacity to observe plus manage the condition of objects. Also collecting data about the background and data about their projects.

Optimization refers to the increase in product performance, as well as diagnostics, maintenance, and possible repairs in a .NET application development company.

Smart things also study their users and control their functions.

There are also advantages in the area of autonomy: the "thinking" object can independently increase its productivity and efficiency (through connections with other devices).

The advantages seem to outweigh all our concerns.

IoT concerns and problems

The benefits of the Internet of Things are undeniable, but smart things pose a lot of challenges for us. They can be divided into 5 areas:

1. security (data protection);

2. design (software standardization, updates, and personalization);

3. marketing (collection and processing of data, creative use of the collected information);

4. service (data collection, reorganization of supplies and service centers);

5. HR (personnel development and training in new skills).

Internet users themselves speak of threats and challenges. Most often, they complain about overly intrusive ads (49%), data breaches (47%), and fear of losing privacy (43% of those surveyed).

It can be said that these problems (especially the last two) occurred, in particular, with the introduction of Internet banking, however, if the work to improve data protection is as powerful as on the devices themselves, then the Internet of Things has a lot of chances for quick success.