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Post date: Apr 29, 2015 4:31:57 PM
The effect that the Internet of Things has on society is that it will lead to sustainable growth, as intelligent use of data will save energy and resources.
Since everything is connected so there is a need for global regulations and laws about data privacy which is not available today and it is because different societies and cultures have different values and therefore a different understanding of privacy. It is difficult to define globally accepted regulations and laws.
Complexity is one of the main challenges that the Internet of Things poses for education and society. As everything is connected; many other systems are affected if one system breaks down, sometimes with unpredictable results (also known as domino effect).
Industry 4.0 is not mainly about production – it is about business model innovation. Companies / Institute should ask themselves when reconsidering their existing business model if they can extend their business model with smart services and if their products are smart or if they can make them smart.
Internet of Things is a disruptive trend since digital information, are no longer the product, it becomes the essence and core value of companies. Products become part of services offered by companies / institute. Whether it is Mobile phones or tablets or laptops, predictive service /maintenance .....
A variety of technologies is associated with the Internet of Things. the following belong to this set of technologies , Mobile technology: Decision makers have mobile access to smart data from a variety of devices. Sensors and connectivity: Products are equipped with sensors and connected to networks. Big data and analytics: Huge amounts of digital data are transformed into smart data.
Access to smart digital data provides great potential for all industries. an example for using this potential in the medical sector is that doctors do not have to rely only on their own experience but have real-time access to the latest information created “somewhere” (for example by a medical community).For higher Education this access means meaningful advice and suggestion of programs or courses.
One obstacle to realizing the vision of the Internet of Things is the existence of incompatible, numerous, and proprietary standards. Connectivity standards are needed to facilitate easy plug-and-play of products. Generally accepted standards are not available yet and will most likely be defined as de-facto standards based on cross-company or cross-industry collaboration.
The Internet of Things impact economics and society almost to the same extent as when machines were created or electricity became the norm in daily life , because every industry will be affected, and adjusting to the Internet of Things will be a prerequisite for economic health not to mention that new regulations, laws, and behaviors will be established (for example in terms of security and privacy).
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