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Internet of Things (IoT) as an Emerging Technology in Global Management
Devarshi Chatterjee and Prof (Dr) Devapriya Chatterjee
Abstract:
We are aware that the latest emerging technology in management, that is making a big impact, is Internet of Things (IoT). The paper makes a brief discussion on the significance of the current status of usage, along with the possible future usage of the technology of Internet of Things (IoT). The paper further examines the technologies of edge computing, AI, and 5G, that are emerging with the technology of Internet of Things (IoT). The various applications of the emerging technology of Internet of Things (IoT) are researched in detail, as these might further augment the advantages of the technology of Internet of Things (IoT) in the market. The solutions as well as the concerns of privacy and security of the applications of the technology of Internet of Things in the different domains of management are explored to give us an idea of the future applications. We are aware that Internet of Things (IoT) comprises of devices, physical objects, vehicles and other items, that are embedded in software, sensors, as well as connectivity, to allow to enable the exchanging and collection of data with humans as well as with each other. The paper further makes an in-depth study of the transformations in the industries of smart cities, agriculture, healthcare and transportation by the augmenting of cost efficiency, as well as the experience of users. The range of the objects include consumer devices, like smart watches and smartphones, as well as equipment of industry, like pipelines and turbines. The innovative feature is the ability to analyze as well as collect huge quantities of data from different sources, that augment the processes of more informed decisions by individuals and businesses. The technology of Internet of Things (IoT) also demonstrates the potential for augmenting new revenue streams and developing new models of business. This is presently a critical technology both in the government and private sectors. However, the main challenge is security (due to cyber attacks) and interoperability of equipment (due to absence of standardization). .
