IoT impacts every business: hospitals, agriculture and banking

May be the IoT is the hot topic in the industry, but it is not a new concept. The explosive growth of the Internet of Things is changing the world. The rapid drop in price for the typical Internet of Things components is allowing the people to innovate new products and designs. IoT represents a general concept. It sense and gather data and then share the data across the Internet so that it can be processed and utilized for other purposes. Many people use the term the industrial internet interchangeably with Internet of Things. In the world of manufacturing primarily it refers to commercial applications of IoT technology. However, the IoT is not only limited to industrial applications.

Objectsol Technologies Technologies
7th Mar 2017
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Network Devices and IoT

All types of ordinary household gadgets can be modified to work in an IoT system. The WiFi network adapters, cameras, motion sensors, microphones and other instrumentation can be embedded in the devices so that they work in the IoT. Already home automation systems implement primitive versions of the concept for things such as bulbs and other devices like wireless blood pressure monitors and wireless scales that represent early examples of IoT gadgets. Some wearable computing devices like glasses and watches are envisioned to be the main components for the future IoT systems. The same wireless communication protocols like Bluetooth and WiFi also extend to the IoT naturally. 

What it means for your business

Internet of Things impacts every business. The IoT and mobile will change the types of devices which connect into a company’s system. The new connected devices will produce some new kinds of data. The IoT will help your business to gain efficiencies and harness intelligence from a wide range of equipment, increase customer satisfaction and improve operations. The Internet of Things will have a profound impact on the people’s lives as well. It will improve healthcare, transportation and public safety with faster communications and better information. There are several ways that the IoT can impact the business and society. At least there are 3 major benefits if Internet of Things which will impact every business that include: Cost savings, communication and control and automation. 

Benefits of Internet of Things for healthcare and hospitals

 IoT is offering some new tools constantly and also efficiencies which make up an integrated healthcare system and ensure that the patients are cared for better. The health care costs are significantly reduced and treatment outcomes are also improved. Majority of the hospitals use IoT for controlling humidity, temperature within operating rooms and asset management. Some major advantages of IoT in the healthcare organizations are:

1. Decreased Costs

2. Reduced Errors

3. Enhanced Patient experience

4. Improved outcomes of treatment

5. Improved disease management

6. Enhanced management of drugs

The risks of IoT in healthcare

Though the IoT is transformational in the health care sector but in the other hand it also presents few challenges given that the health data is sensitive. If it is share inappropriately, then the health information can also damage the reputations and destroy careers. The security of data is one more risk factor which is likely to increase with an increase in the level of data being shared. 

IoT challenges for agriculture

IoT in agriculture has become the fastest growing fields in the M2M space. Now the farmers, conservationists and ranchers need a way to utilize and conserve resources more effectively. The most effective way is through actionable data and utilizes M2M communications that makes the ongoing collection of the data affordable and simple.

The IoT is transforming the agriculture industry and enables the farmers to contend with enormous challenges they face. An increasing worldwide demand for food, limited supply of water, a changing climate, arable land and fossil fuels. In order to overcome these hurdles, the agriculture industry is adopting vast array of digital solutions that include:

* Robotics

* GPS Technology

* Computer Imaging

Strategic IoT solutions for smart agriculture

The solution providers are looking to build and sell some new agriculture IoT applications; the agriculture equipment providers are looking to add some additional value with IoT to its customers. It is all about making the right strategic choices, choosing the right partners and delivering the right to market quickly. Objectsol Technologies provide the first purpose to built IoT platform designed to full fill the unique needs. We as the leading IoT platform, delivers the scalability and security to handle millions of daily transactions. 

IoT in Financial services and banking

The IoT is the next big and imminent thing in the financial services. Banking is becoming convenient because of Internet and the future of banking industry is growing increasingly. Technology is playing a very important role in everyday transactions whether it is about the future of retail banking or the future of mobile banking The IoT is a part of the rapid evolution toward the bank of the future. 

Benefits of IoT in financial services and Bank Marketing:

* Instant communication between devices

* Behavior triggered marketing actions

* Collection of data constantly and in real time

Main barriers for adoption of IoT in financial services and bank marketing:

* Lack of common standards

* Regulatory compliance

* Privacy and security concerns

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