The Potential of the Internet of Things in Empowering Businesses

The advent of the Internet of Things (IoT) has been a great boon for most businesses today. As far as human resources of enterprises are concerned, the IoT has given employees the flexibility to access a network remotely. Unlike a decade ago, today, several devices are being connected to a network, which has flooded enterprises with crucial data from myriad sources, a trend which was probably unimaginable back in the early days of computers or mobile phones. 

Thanks to the IoT, enterprise bosses today gain valuable insights from a wide variety of devices that facilitate better decision making. Integration of IoT devices to an enterprise network has helped enterprises comprehend the needs of its customers much better than a few years ago.  Unlike the bygone, not-so-tech-savvy era where individuals relied on historical data, the increase in adoption of smartphones and the popularity of IoT has ushered real-time data, which has been instrumental in cybersecurity.

Real-time insights are really useful in foreseeing threats and mitigating them effortlessly. The recent advent of the IoT has undoubtedly delivered several benefits which include inventory tracking, management, and security. The best example to illustrate this capability of the IoT is a sensor installed in an automobile or a gadget.  Such sensors notify users with frequent real-time updates about the position of a vehicle or the status of a mobile phone.

An additional advantage of this recent technological trend is a reduction in maintenance costs by more than 25 percent, a reason why many industry veterans are all praises for this technological trend. According to a report published recently, the contribution of the IoT to the global GDP is expected to be around 10 to 15 Trillion dollars. Many leaders and researchers are of the opinion that coupling the IoT with Artificial Intelligence is the best method to amalgamate the technology into an enterprise.