Part 5: IoT: Pros and Cons
The greatest advantage we have today is our ability to communicate with one another. The Internet of Things, also known as IoT, allows machines, computers, and mobile devices to communicate with each other as well. Thanks to tags and sensors which collect data, information can be distributed machine-to-machine and this data can be used to our advantage in numerous ways.
Coined as a term by Kevin Ashton, who helped to found the center at MIT which developed the first radio chips that are used to track materials and goods, the Internet of Things has expanded into residential life in numerous ways. The pros and cons of the Internet of Things can show us how we can save time and money, especially if the negatives here can be appropriately managed.
Pros
· Automation
IoT enables the automation of processes and machines remotely. This means you don’t need to physically control every aspect of life, all thanks to IoT. Machine to machine communication helps to maintain transparency throughout the process. The idea with IoT is that these processes will be able to in effect, ‘manage themselves’ by communicating and analyzing the necessary data, with little or no human interference. For example, when you are close to your house, your car ping’s the AC and cools your house before you enter. Better educational opportunities can be offered in an automated way globally.
· Time-Saving
As it reduces the human effort then it definitely saves out time. Time is the primary factor which can be saved through IoT platform. Imagine not having to set your thermostat because your A/C will automatically know what you like…or knowing when to order milk because your refrigerator sent your smartphone a grocery list. The amount of information that can be produced by the Internet of Things is virtually limitless, so knowing exactly what is needed can not only help you save time on your trip to the grocery-store, but can also save doctors time when trying to diagnose a patient with something critical, because the information in their health monitor is there and analyzing the person’s history.
· Cost Efficient
In addition to the optimal utilization of energy and resources, the IoT helps alleviate the problems associated with bottlenecks, breakdowns and system damages. If manufacturing needs can be automated, then some of the savings generated could be transferred to consumers. The same could be said of commercial applications. Although businesses will certainly pocket some of the savings that IoT can bring, some of that savings will also be transferred over to the consumer. This means new products could potentially cost less in the future, which promotes better standards of living up and down all household income levels.
· Instant Data Access
You can communicate to your IoT devices whenever you want. You can make your home automation system notify you of updates. You can make your security system to notify you of all security updates. More available information helps simplify the decision-making process, making life easier to manage. With instant access to your personal data, you ultimately get to manage who you are and how you live.
Cons
· Security and Privacy
Security is one of the most important concern for the future of IoT. As the IoT system is interconnected over network, the system offers little control and it can lead to various kind of attacks. Even without the active participation, the IoT system provides substantial personal data. It is harder to keep personal and confidential information out of the hands of hackers and other harmful users. With so much important information being automatically transferred across the internet, how will we make sure this data is kept safe? So, with IoT we have the risk of data leakage.
· Complexity
Designing, maintaining and developing of the IoT with large technologies is quite complicated, because IoT is very vast and a signal failure in either the software or hardware can have disastrous consequences. More complexity means more opportunities to fail. IoT saves money and time but on the other hand, there is also the potential to lose money and time. Information is good, but complex information can create troubles.
· Technology dependent life
As our lives become more and more dependent on technology, basic human interaction skills will be reduced across society. Imagine IoT being able to order whatever your home needs so that you don’t need to leave it to run errands. Today IoT made it possible for a majority of workers to telecommute (work from home) as well. As we become more reliant on technology, we lose our basic human skills of interacting with one another.
· Job Eliminations
As IoT brings in more consistent automation, we could see a decline in the need for unskilled employees in the workplace. Automation can be a good thing, unless that automation happens to eliminate your job. For workers to gain needed skills, they often need access to entry-level jobs like inventory tracking or purchasing so they can gain a better understanding of the industry as a whole. When technology can eliminate the human need for involvement, then a company saves money, but entry-level workers lose opportunities and paychecks as a result.
