The term Internet of Things was first coined 18 years ago. Today, it is a global phenomenon at the center of the next generation of digital innovation. But its future is not yet assured as IoT needs a robust infrastructure and backend applications able to support the billions of devices that are being connected to the internet.
Alibaba, China’s e-commerce giant, unveiled a car a year ago called the OS’Car RX5. It’s one of a growing list of companies-both automotive and technology companies-that are introducing driverless cars. For example, Google’s Waymo is currently undergoing testing and Tesla recently started production of its mass market Model 3, which will have fully autonomous capabilities.
The word augment means to make something greater by adding to it. Augmented Reality (AR) is a technology that superimposes or layers virtual information onto real life. The digital information enhances, makes greater, our ability to navigate and explore the real-world environment.
Internet of Things or IoT is a technology that deals with bringing control of physical devices over the internet. We are already surrounded by smartphones, smartglasses, smartwatches, and smart homes, but IoT will create an explosion of new devices and applications, one of which is the smart office.
We have seen a dramatic transformation in both life and work in recent years as a result of new technology, from smartphones to the Internet of Things, with the prospect of bringing an additional 20 billion connected things online by 2020, according to Gartner.
The freight train that is the Internet of Things (IoT) is gaining steam. Machina Research expects the global IoT market to more than quadruple between 2014 and 2024, growing from $900 billion to $4.3 trillion. Within the next eight years, Machina estimates there will be 30 billion connected IoT devices; investment in IoT will be upwards of $1.6 trillion.