Vinay is an ISMS, IT & a management expert with over 15 years of experience in the fields of Information Security, Risk Mitigation & Privacy, Business/Technology Management, Operations Automation, and many others.

When we talk about Internet of Things(IoT) we talk about an industry that is estimated to have a global market value of 10 trillion dollars or more by 2025. IoT is nothing but a network of physical devices that have embedded electronics and a provision to ‘connect’ such that these devices exchange data for meaningful purpose. Applications of IoT will be infinite. All one needs to do is imagine. This is where Thought Leadership will play a big role. We need more Technology Evangelists than ever before.

IoT cannot be separated from many other developments that are taking place simultaneously. All these only complement each other. Today almost all smart devices generate a huge amount of IoT data that needs to be analyzed and leveraged in real time. This is where Predictive and Big Data Analytics come into play. Artificial Intelligence (AI) and Machine learning (ML) is also used to add context to data - and trigger actions without human intervention. Customization of devices will largely depend on User Behavior Analytics (UBA).

The future of IoT strongly depends on the efficiency of connecting these devices to the internet. In many developing countries this translates to cost of connecting and availability of internet. Let us remember, developing countries will play a big role in the future as far as IoT sale goes and thus it is very crucial for World Inc. to monitor these countries for economic stability. This calls for strong global governance. We are more connected than ever before, thus it would be too late if we fail to collaborate.

The Scope of IoT
The spectrum of IoT based devices is infinite. We will soon have entertainment, travel, security systems, industrial devices, healthcare, real time information systems and weather management systems to start with. Most of us are

already familiar with Amazons Echo and Google Home. Last year Zimplistic, an IoT startup based in Singapore launched Rotimatic, a device that makes
Asian Flat breads that are popular in India, Bangladesh, Pakistan, Iran and to a certain extent the Middle East. Rotimatic can easily get software upgrades as and when required. This is just the beginning of IoT based home automation.

The future of IoT strongly depends on the efficiency of connecting these devices to the internet

Some other interesting IoT products are Amazon Dash Wand with Alexa, Moen U Smart Shower, Senoria Fitness T-Shirt, Netatmo Presence Camera, Bragi Dash Pro and Zeeq smart pillow. In the coming years we can expect, intelligent coffee makers, juicers, air pollution monitors, air quality controllers, robotic gardeners, robotic house maids, water quality controllers, dedicated programmed tutors and healthcare equipment that can provide accurate data that’s readable for everyone, raise alarms as and when required and even notify doctors or hospitals in case of an emergency.

Automotive sector will benefit a lot from IoT. The future of mobility is AI, ML, UBA and IoT. Automotive sector is now looking at IoT to help drivers in connected cars avoid accidents, predict maintenance issues, find parking spots, raise alerts and much more. It is IoT and ML which will eventually bring self-driving cars to the market. IoT in mobility is not just about diagnostic data or predictive analytics it goes beyond. Connected cars will evolve sooner than we think. Digital vehicle access management will be the key factor in Mobility as a Service (MaaS). Vehicle to Infrastructure (V2I) communication technology will help us find parking slots, select the best possible time to travel, locate the nearest petrol station or garage and avoid collisions. Almost every second car will be a smart car by 2025. If your smart car gets stolen, your car key or mobile app will help you find and track it through its GPS device.

Healthcare is expected to transform radically in the coming decade. One does not even have to react to an emergency or even think of it unless under unavoidable circumstances where this technology cannot reach. OnKöl from Wisconcin, U.S., has developed a proactive monitoring device that collects data from medical devices and shares it with family members and caregivers. Medtronic MyCareLink has insertable cardiac monitors that make pacemakers communicate data to smartphone apps for sharing with physicians. The app enables the elderly to share data with hospitals; ensuring medical intervention is sought immediately when required. Medical devices like these can help the medical community and off-campus physicians continuously monitor vital signs without disturbing patients, even when hospitalized.

Looming Security Threats
All the benefits of connected, IoT equipped and mobile controlled devices do not come without drawbacks. The industry is already dealing with threats where IoT is concerned, mainly security and privacy. We have had several instances where connected cars have been hacked through mobile apps, infotainment systems have been compromised and insecure medical gadgets that have malfunctioned due to such attacks. Information Security, Cyber security and Privacy will play a key role in IoT.