We live in a technologically enhanced and focused society. Statistics indicate that more than 80% of American adults have access to a smartphone, personal computer, or tablet. But the existence of so-called smart technology doesn’t end there. Today there is a seemingly never-ending variety of devices that connect to the internet and are promoted as a way to make our lives easier. How do these things affect our daily life and what does the future hold regarding technological advancement?
The Internet of Things
While nearly everyone is aware of how far technology has come and how deeply it permeates our society, not everyone is familiar with the term Internet of Things. This term simply refers to the development and existence of a wide range of technological devices that interact with each other using the internet. It is simply a means of harnessing the technology that exists today and using it to connect common and ordinary products to the world wide web, allowing their use to be automated by other devices from afar. In the not so distant past, the idea of advanced technology that could be operated remotely through smartphone apps or other devices was reserved for the wealthy or elite members of society. However, technology has advanced so rapidly that these types of products are now available for even average and ordinary citizens.
How Does the Internet of Things Impact Daily Life?
While this may all sound very futuristic or perhaps even unnecessary, it’s likely that your day to day life has already been impacted by the Internet of Things (IoT) even if you don’t realize it. The following are just a few of the common devices in existence that millions of people around the world already make regular use of.
- Coffee makers that have your favorite brew ready to go by the time you wake up
- Garage doors that can be remotely operated via a smart phone app
- Lighting systems that can be turned on or off remotely
- Thermostats that allow you to adjust the climate of your home from the office
- Home security systems that allow you to turn them off or on from a distance
As it turns out, the idea of an interconnected society is not new at all. Companies were already toying with the idea of creating intelligent devices that could perform these types of automated functions decades ago. It just so happens that it is just now becoming more common for average citizens to afford these types of technologies that were previously reserved for the wealthy.
How The Internet of Things Affects Business
We’ve seen how the Internet of Things can impact daily life for average people. However, there are also many ways that the Internet of Things affects the world of business. It should come as no surprise that corporations and small business owners would want in on the technology referred to here as a means to improve their customer’s experiences and enhance the bottom-line of their business. The following is a list of some of the most common business-related impacts created by IoT.
Business owners already make good use of the Internet of Things to help streamline some of the mundane and basic tasks that need to be performed in the daily operations of a business. For example, keeping track of inventory used to be a time-consuming task that had to be performed manually. As recently as 15 to 20 years ago, business owners or managers would have to count every piece of inventory by hand and enter these numbers into a written ledger to ensure that the company was maintaining a proper profit and keeping costs low. The process of tracking inventory is now completely automated in most locations and software can easily keep track of every item used. Some software is even enhanced with the ability to automatically place orders for supplies when the inventory numbers drop below a specified amount, easing the task load of managers and other employees.
Data tracking for business owners has also changed a great deal over the last couple of decades. The successful operation of a business requires access to a variety of different types of data on a daily basis. The business owner needs to constantly be aware of how much he is paying for supplies, what his basic costs of operations are, how much profit he makes on each item he sells, and many other numbers. This type of data previously required hours of pouring over books each day to ensure the business was being run properly. This type of data can now be gathered by smart apps and software that is capable of sending the reports straight to the business owner, complete with an analyzed breakdown of any areas that need attention.
Let’s also not forget how the process of being equipped to run credit cards has changed over the last decade. Cash registers have been replaced by sophisticated machines enhanced with some of the most advanced software utilized today. This software can not only process a customer’s credit card payment but can also safely store specific information that allows the customer to have a more personalized shopping experience in the future. These types of software can create customer email lists, formulate and send rewards or coupon codes, and perform many other actions that enhance the customer’s shopping experience and create more repeat business.
Keep Reading: Jason Hope Helps Push Anti-Aging Efforts Forward
What Does the Future Hold for The Internet of Things?
Technology continues to march forward as more of the general population becomes aware of the existence of these types of products. It is predicted that some of the following products may be right around the corner in the near future.
- Sensors that determine soil health to improve agricultural productivity
- Smart buildings that help automate and enhance daily experiences for tenants
- Smart banks and ATMs that improve the basic financial tasks millions depend on daily
- Sanitation technology that can enhance the process of collecting garbage
Aside from business related functions and access to products designed to make daily life easier, we will also likely see an increase in lifesaving technology such as improved ways to detect fires, carbon monoxide leaks, and the existence of other dangers that can create health hazards.
Jason Hope is a successful entrepreneur, investor, and philanthropist who resides in Arizona. Armed with a creative mind and a passion for advanced technology, Jason Hope believes that a longer, happier, and healthier life is possible for all through technological advances.
Jason Hope attended Arizona State University, where he earned a degree in finance. He later went on to earn his MBA from the W.P. Carey School of Business. In addition to his love for technology, Jason has an overwhelming desire to give back to his community in ways that can enhance the daily life of those affected by various struggles. In fact, he recently made a large donation to a California based company called SENS, an organization dedicated to promoting biotechnology techniques to fight age-related diseases. Jason Hope continues to lend his experience and expertise to the development of technologies that will enhance the lives of millions in the years to come.
Connect with Jason Hope on Facebook to learn more.