The Internet of Things’ (IoT) presence has continually grown within a variety of sectors, including commercial real estate. The IoT expansion shouldn’t come as much of a surprise however — this network of devices that can communicate with each other, collect and exchange data with sensors and software, has been game-changing for businesses and individual users alike.
Home appliances, CRE buildings and cars are just a few examples of devices that can operate within IoT. Many people use IoT every day whether it’s operating their smartphone or wearable fitness device.
While at times it may seem like IoT has reached its apex when it comes to devices, it might be just getting started, according to the Forbes Technology Council. The group recently shared the new and potential IoT devices that they’re most excited about.
Digital Twin Technology
A digital twin is a digital representation, or copy, of a real-world physical product that can be used for testing, monitoring, maintenance and more. Christine Boles, Intel VP Network & Edge Group, GM Federal and Industrial Solutions, said she believes digital twin tech “holds the greatest potential among IoT tools” because businesses can test products’ quality, efficiency and more without wasting real-world resources.
“Used correctly, digital twins can save companies both time and money,” Boles said.
Smart Buildings and Cities
CRE buildings have become smarter in recent years in an effort to attract prospective tenants and become more energy efficient (lights that turn on and off automatically based on whether people are in the room, for example).
Like anything connected to the internet, smart buildings and cities have security concerns, but they’re also, “creating ecosystems of IoT and OT (operational technology) devices that increase operational efficiencies, enhance safety and use fewer resources,” Sevco Security Chief Strategy Officer Brian Contos said.
With IoT devices, CRE buildings could shrink their carbon footprints that their HVAC systems create, while cities could offer Wi-Fi access throughout the area.
IoT In Manufacturing
IoT could be a valuable asset in manufacturing plants, whether it’s to send real-time alerts that a product is out of stock or when a piece of equipment is not functioning properly.
Cadynce co-founder and CTO David Dozer also noted that machines on shop floors could capture data, but making the information useful for business systems was often challenging. As IoT has evolved however, “data from the factory floor can be viewed in real time, allowing manufacturers to take swift action when there are issues and have visibility into what is being produced as it happens,” Dozer said.
Shared or Public Infrastructures for IoT
IoT’s capabilities are exciting, but they’re only as good as their support systems. Nodle CTO Elliott Teissonniere pointed out that the infrastructure to support IoT is lacking today, and he’s most looking forward to new IoT shared or public infrastructures.
“Such infrastructure will increase interoperability between IoT devices, allowing them to work together seamlessly while also providing stronger privacy and security guarantees,” he said.
Instant Anomaly Detection at Vital Sites
Of all the things IoT can do, perhaps its real-time information processing abilities are the most impressive. LOGIQ.AI founder and CEO Ranjan Parthasarathy acknowledged he’s most excited about IoT’s continued capability to spot anomalies in a timely manner, which will help keep systems more secure.
“IoT technology that combines AI, vision and remote connectivity will have a massive impact on improving security,” he said. “We depend on remote stations for regulating things that are vital to society at large, including water flow, electricity and so on. Computer vision with AI that can detect anomalies via video, combined with instant cellular connectivity at the edge, can result in fortifying these vulnerable edge locations.”
Click here to see the entire list of IoT developments that has the Forbes Technology Council so excited.