Here's the Next Big Thing in Technology by Market Authority
There's an arms race happening to control of every aspect of your daily life. No, this has nothing to do with King Putin's attempted annexation of Ukraine. What I'm talking about is the brewing battle among the largest tech companies in the world to control the "Internet of Things" (a.k.a. IoT). The IoT refers to a new generation of household appliances connected to us through technology (thus making them "smart"). Things that monitor us, understand how we behave and adapt to make our lives a little easier.
Households won't have a "Rosie the robot" housekeeper just yet, but every appliance in your home will soon have the capacity to understand your daily routine and be remotely accessed from anywhere. Thermostats that know when to raise the temperature so you can get out of bed in the morning, front doors that let UPS drop packages inside while you're at the office, and cars that advise you to take a different route due to an accident down the road. These are just a few examples of how connected technologies will optimize and improve our daily lives.
Here's a chart from BI Intelligence which shows the huge growth in the IoT in the next few years:
IoT is the next big thing in tech and the major players are rapidly building war chests. Google acquired smart thermostat maker Nest for $3.2 billion. They also paid $1.2 billion for Waze, which uses shared driving data to provide the best route. Facebook bought Oculus for $2 billion and plans to connect 1 billion people via virtual reality. Amazon introduced a new cloud concept, Kinesis, to individually store all of your data. Just a few days ago, Cisco invested $150mm in a group of IoT startups.
While many of these new technologies will fail, it will be fascinating to see how smart devices reshape our world. Only time will tell. Suffice to say that time will be on a watch much smarter than the one you're currently wearing!
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