Last week the Oxford Dictionary Online added the word “twerk” to its growing roster of words. The Miley Cyrus-fueled dance term overshadowed the entry of a phrase that likely has much longer staying power than twerking.
The phrase “Internet of Things,” coined by MIT Auto-IT Center co-founder Kevin Ashton in 1999, was also added to the Oxford Dictionary Online (not to be confused with the traditional Oxford Dictionary).
It’s been a good week for the Internet of Things. Aside from the Oxford listing, National Geographic has published an article on what the connected world of the Internet of Things could mean to businesses and individuals alike as more and more devices become connected by tiny sensors like RFID tags.
Earlier this year Ashton told RFID 24-7 that “The Internet of Things is the big technology prediction of the moment. I have seen at least three stories declaring 2013 as The Year Of The Internet Of Things.”
Evidently he was on to something. The IoT movement is quickly gaining steam. In March Cisco announced that the Internet of Things World Forum will be held next month in Barcelona. Cisco claims that the Internet of Everything represents a $14.4 trillion opportunity in increased revenues and decreased costs for businesses and customers over the next decade. The company says that the Internet of Everything has the potential to grow global corporate profits by 21 percent by 2022.
Last month UK tech firm ARM announced it is transforming its Cambridge headquarters into an Internet of Things-enabled campus thanks to £800,000 in funding from the Technology Strategy Board, the UK’s innovation agency. The company will deploy network technology and over 600 connected sensors across its company.
All of these connected sensors are controlled by smart ARM-technology based chips. The project will provide information and finer grained control of the site and its 75 parking garage lights, 40 meeting rooms, heating and water management systems.
The company believes that it can demonstrate tangible business benefits and reduce energy costs by making connected assets across the ARM campus work together.
This spring Ashton said that he doubted there would be an obvious tipping point any time soon in the rush to IoT adoption, “but it is clear that lots of little devices contain sensors and wireless communication capability now, that they are starting to get connected to each other, and that there is some appetite for them among early adopters at the very least.”
Ashton pointed to a simple sensing and home automation platform he created last year for Belkin called WeMo. Unlike other similar systems, its secret is it uses the home’s existing WiFi network to communicate. Ashton said that the system is selling beyond all expectations.
Here is an exert from the National Geographic article:
Proponents like Helen Duce, director of the RFID Technology Auto-ID European Centre at the University of Cambridge, argue that the technology will provide great efficiencies across many industries. Stores won’t have to worry about running out of products, because an automated inventory-control system will know how many packs of gum or boxes of diapers are on hand at any given moment.
Consumers will be able to set their fridge to order new groceries for delivery when the eggs run out or the milk expires. Forget to turn off the oven? No problem, turn a dial on your smartphone from anywhere in the world. No need to turn off the lights: Your rooms will know when you enter or leave, setting all systems just the way you like them, since they will be able to detect when the phone in your pocket is near.
Click here for a closer look at RFID 24-7’s previous coverage on the Internet of Things.