IoT and Sustainability — friend or foe?
The Internet of Things is a pretty hot topic these days, for a variety of reasons. First, the internet favors IoT, especially in light of the online trend that has spiked in the past year and a half. Also, there seems to be an endless supply of new ways to put the internet to work on behalf of us all, whether for a corporation, a small business, a supply chain, or an individual. But, do you know about the pillars of sustainability?
Every IoT business Should Know About the three pillars of sustainability — economic, social, and environmental sustainability, (aka profit, people, and the planet) — outlines the goals which companies seek. Thus, truly sustainable business models are built on all three pillars, rather than just one or two.
The more a business employs practices that use all three, the more it reaps benefits and progress. The pillars of sustainability are like taking care of your health on multiple levels. If you eat well, exercise, and go to a doctor for regular checkups, life will work out better for you than if you do just one of those things.
Sustainability is important for businesses that employ IoT since it evidently isn’t going anywhere. There were almost 9 billion IoT devices worldwide in 2020, and that number will rise to more than 25 billion in just ten years. A variety of companies are already using IoT devices, but there are plenty of projected uses for the future. And for a company that wants to thrive and grow, the future involves sustainability.