In addition to our smart home devices, IoT is an important technology in business and industry because it provides companies with real-time insight into the inner workings of their company systems.
IoT provides insights into everything from machine performance to the supply chain to logistics operations, from the factory to the customer’s door.
Companies can use IoT to automate processes and cut labour costs. It also reduces waste and improves service delivery, lowering the cost of manufacturing and delivering goods while also ensuring customer transaction transparency.
It enables businesses to reduce costs, increase security, and improve overall quality, resulting in a win-win situation for all parties. As a result, consumer goods are less expensive to produce, shipping is more predictable, and businesses can expand, stimulating our economies while also providing a sense of fulfilment.
How is IoT used in everyday life?
This is how IoT is used in our everyday life;
- Smart home appliances (stoves, refrigerators, washers and dryers, coffee machines, slow cookers)
- Intelligent security systems, locks, and doorbells
- Hubs for smart homes (that control lighting, home heating, and cooling, etc.)
- Intelligent assistants
- Smart scales, fitness trackers, and sleep trackers.