The Internet of Things
The “Internet of things” (IoT) is becoming an increasingly growing topic of conversation. What exactly is it? The simplest definition is connecting any device with an on and off switch to the Internet (and/or to each other). This can include ‘things’ such as washing machines, refrigerators, mobile phones, coffee makers, lamps, wearable devices, etc. IoT continues to expand as more devices are being created with Wi-Fi capabilities and sensors, technology costs go down over time, broadband internet becomes more widely available and smartphone penetration grows exponentially.
It is estimated that we’ll see a trillion connected devices that will create $11 trillion in value by 2025. By 2020 alone, there will be over 26 billion connected devices.
Consider your mobile phone. With all the functionality it provides, making phone calls is probably the lesser task you use it for. We’ll see the same from other ‘things’ in our lives. Your refrigerator can recognize when you’re short on eggs and order them for you, play music, deactivate the alarm and offer a million other conveniences outside of keeping your food cold.
IoT for the Lottery Industry
We’ve recently seen vendors in the industry showcasing refrigerators that give reminders about upcoming lottery draws and even order your tickets. How else can a lottery benefit from the IoT?
As more IoT devices enter the marketplace, actionable data on user experience, player preferences, and emerging trends will be made available and lotteries can make decisions accordingly. A challenge is figuring out a way to store, track, analyze and make sense of the vast amounts of data that will be generated.
A major component of the IoT is mobile technology. Smartphones and tablets offer fast, convenient and easy experiences for gamers on the go. It also accounts for more than 160 million players in in the gambling space at present.
The smartphones and tablets have an abundance of hardware and software, such as cameras, accelerometers, and pressure sensors and heart rate monitors. Mobile applications can tap into these and collect/report data on user experience. Through analyzing and tracking appropriate data, gaming platforms will learn how customers interact with their online games and scrutinize and measure the satisfaction of a player during the game.
With any innovation comes its challenges, in this case security, specifically privacy and data sharing.
Billions of devices are now connected to one another. Will someone be able to hack into a player’s lamp and subsequently get access to their entire network?
While the data that can be collected to draw inferences about the user’s preferences can be beneficial, the massive amounts of data that all of these devices are going to produce just as much concern if security is breached.
While we try to understand the many opportunities while more devices continue to join the IoT, at present, the best thing that we can do is educate ourselves about the IoT, what its impact may be and how it can change how we work and live.
If you’d like to know more about the Internet of Things, or products and services Genera Networks provides, please contact Vanessa Garro Peeters at email@example.com