The Internet of Things (IoT) is a term that is used to describe ever-growing networks of physical objects that are online, connected, and able to communicate and share information with us and with each other.
Computers and then smartphones were the first devices connected to the Internet. Over the past decade, our homes have become filled with smart TVs, connected kitchen appliances such as kettles and fridges, and smart alarm systems, cameras and light bulbs. At the same time, we have grown accustomed to working alongside smart machines in the workplace, driving smart cars and even living in smart cities.
In 2023, it is predicted that there will be more than 43 billion devices connected to the Internet. They will generate, share, collect and help us use the data in all kinds of ways. So here’s a look at some of the key trends that will affect how we use and interact with these devices in the coming year.
Digital twins and the enterprise metaverse
It is a convergence of two very important technology trends that will define how technology will be used in industry and business in 2023. For businesses, one of the most valuable applications of the metaverse will be to bridging the gap between the real and virtual worlds. Using data from IoT sensors, it will be possible to build increasingly realistic digital twins of many different systems – from manufacturing facilities to shopping malls. Business users will then be able to step into these digital twins using experiential metaverse technology like VR headsets to better understand how they work and how adjusting individual variables might influence business outcomes.
We are already seeing applications of this technological convergence in retail, where store planners can monitor footfall in real time and make adjustments to displays and promotions to monitor their impact on customer behavior and ultimately account, on the generation of income. In industrial environments, it allows plant and manufacturing plant designers to experiment with different machine configurations, as well as highlight potential safety issues and predict when failures might occur.
IoT devices make our lives easier and more convenient, but they also expose us to new and varied forms of cyber attacks. To put it simply, the more connected devices we have in our environments, the more doors and windows are potentially open to attackers. As the number of devices explodes in 2023 and beyond, businesses, device makers and security experts will step up the fight to keep “rogue actors” at bay, minimizing their chances of getting their hands on our precious data.
In the United States, the White House National Security Council has said it hopes to have standardized security labeling in place for manufacturers of consumer IoT devices by early 2023. This will help buyers understand the risks that the specific devices they bring into their homes might pose. . Many basic attacks, such as phishing attacks, rely on social engineering – tricking users into divulging access details – and can be thwarted by taking basic precautions. The UK is also expected to introduce its own Telecommunications Product Security and Infrastructure (PTSI) Bill.
For those involved in the IoT – particularly in the consumer space where networks can be the only barrier between thieves and extremely sensitive personal data – spending on security measures is expected to reach $6 billion in 2023. .
The Internet of Health Things
Healthcare is a huge area of opportunity for IoT technology, and the market value of IoT-enabled healthcare devices is expected to reach $267 billion by 2023.
One of the biggest game changers is the use of wearable devices and home sensors to allow healthcare professionals to monitor patient status outside of the hospital or doctor’s office. This enables 24/7 care while freeing up valuable resources for patients who need immediate, direct care. In 2023, more of us will be familiar with the concept of the “virtual hospital ward”, where doctors and nurses will supervise the monitoring and treatment of patients in their homes using sensors and telemedicine.
On the consumer side, wearable devices allow everyone to have a better idea of their own health and fitness, which will again help reduce pressure on existing healthcare systems by allowing us to demand helps earlier when something is wrong, as well as gaining a better understanding. of the impact of diet and exercise on our health. Smartwatches with ECG and Sp02 sensors are now commonplace, and over the next year we can expect to see more products, such as wearable skin patches. We might even see devices from Elon Musk’s Neuralink, which creates implants that read neurological signals – one of the first applications targeted could help people with paralysis regain control of their bodies.
Governance and Regulation in the IoT Space
In 2023, the EU is expected to introduce legislation requiring manufacturers and operators of smart devices to follow stricter rules on how data can be collected, where it can be stored and what they must do to protect against breaches. It is just one in a series of new laws that we can expect to be implemented around the world. This means that 2023 could very well be the year that governments start tackling the legal and social ramifications of an ever-expanding IoT. EU legislation is also expected to address issues with edge computing, which uses devices designed to process data at the point it is collected rather than sending it back to centralized cloud servers for analysis. Meanwhile, in Asia, 2023 marks the culmination of a three-year plan by the Chinese government to put in place policies that enable widespread adoption of IoT technology across the country. In China, as elsewhere in the world, the IoT is seen as having the potential to drive massive business growth, but it is understood that it must be developed in a managed manner to avoid potential conflicts with privacy concerns and personal rights.
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