5 Common Misconceptions About Internet of Things (IoT)
Internet of Things has been pretty much a buzzword quite recently.
With the advent of the upcoming 5G Internet technology, it is expected that 22.5 billion devices will be connected to the Internet by the year 2021[1], largely thanks to the faster speed and lower latency of the 5G network it offers.
There are many real-life examples of the Internet of Things that have been extensively used today, which include smart security system, intelligent health monitoring, and many more.
However, there arouse misconceptions about IoT that still plagues many people, which hinders the adoption of IoT among the masses.
Here are the five common misconceptions about the Internet of Things:
1. IoT is only commonly used among corporations
A lot of coverage tends to focus on how IoT is extensively used among big companies, thus the perception that IoT might not be widely used among small businesses or corporations.
Not exactly.
Low-cost platforms and sensors, as well as open-source options, provide opportunities for small businesses and consumers alike to increase overall efficiency and reducing the costs of operations in the long run.
A survey by AVG stated that 57% of small businesses thought that IoT would have a significant impact on their bottom line[2].
Another survey by Deloitte showed that 65 per cent of the smartphone owners would find value in smart home solutions, while 72% per cent would find value in connected cars solutions[3].
This means that there’s a huge potential and would open more opportunities in the future if more and more businesses and consumers incorporate and utilise the IoT in day-to-day operations.
2. IoT devices are insecure and unsafe for everyday usage
Despite a lot of potentials which can take advantage of with the usage of Internet of Things, many people are still reluctant to use it due to the possible security flaws or loopholes which might compromise the safety of the users.
The fact is, while there may be no escaping to any possibility of attacks from hackers, for instance, specific security standards and measures are in place to minimise such risks.
Most IoT devices have security layers which provide protection to ensure the safety of the data, provided certain precautions are taken. It is the responsibility of the IoT
Even so, does that mean IoT devices are secure to use?
3. IoT devices are secure
Contrary to the second point above, just because IoT devices contain security layers doesn’t mean users are free from potential security threats.
Businesses and consumers must understand the threat environments they might potentially get.
They always need to be aware of such threats, and they must implement appropriate measures on security towards data protection so that the risks could be mitigated or possibly avoided.
Hardware devices tend to depreciate, or in other words, becomes old and obsolete as time passes by. Thus, they are more prone to security vulnerabilities. This contrasts with software where developers can apply the patch whenever there are security loopholes.
4. IoT is only about connecting devices to the Internet
While it is true that devices that are connected to the Internet are considered part of the Internet of Things network, there is much more than beyond that.
IoT also involves a range of networks, cloud, gateways, APIs, and many more.
Of course, getting devices connected to the Internet would mean users can control it remotely, but the main thing about the IoT is the data and insights that are being generated real-time.
With real-time data in hand, businesses and consumers can make forecasts, future outcomes, and potentially prevent operation mishaps.
5. IoT is expensive to implement
It may be right in the past where IoT equipment and devices are scarce, and Internet access is almost to non-existent back then.
Not anymore today.
As the costs of manufacturing IoT devices are decreasing day by day and Internet cost is going down as well, it becomes increasingly affordable for small businesses and consumers to own one.
This also means businesses and consumers can leverage the technologies of IoT as it doesn’t require considerable amounts of financial resources from their side.
To wrap up
Everything related to technology will have some misconceptions, and IoT is no exception.
No doubt, IoT brings a lot of potential benefits and opportunities that increase the efficiency of operations and day-to-day living, as well as reducing the costs in the long run.
While there may be setbacks and challenges on implementing the IoT first-hand, the benefits outweigh the cons for the long-term.
[1] 5 ways IoT is being used for good causes.
[2] IoT for small business: Effects, opportunities & platforms
