IoT involves storing and transacting vast amounts of data, but despite the potential privacy risks, there are numerous benefits for personal and business users

Technology has made our lives easier and comfortable with new inventions turning up to the customer market every day. With the invention and connectivity between mobile application and internet, all our lives have started depending on it one way or another. What has emerged as the internet-of-things now provides control over applications and devices like lights, fans, TVs or any application that can be connected to mobile application via internet. With a growing population adopting IoT, development of solutions is on high demand currently.

IoT connects devices with respective mobile applications, which can be used like a remote to control. For instance, air conditioners can be controlled using its respective company mobile applications if they have an IoT feature. The same way different applications serve its own purposes depending upon the service it provides.

Ther are obstacles and challenges are involved with overcoming the risks that come along with it. IoT stores a vast amount of data from all the mobile applications we use, and these data are stored in the servers of the mobile application. Users or customers do not have control over this server and usually do not have a way of finding out as to how this data is being used by the company. This leads to question what are the risks in IoT and is it still safe to use. This article will help overcome the fear of IoT risks and give you an idea as to of how IoT is going to shape the future.

Some of the risks involved in IoT are as follows

1. Security and privacy

For example, if we take healthcare mobile applications, it makes us store different kinds of personal data. These data include our height, weight, blood pressure per minute, heartbeats per minute and so on. If there is a security breach in the mobile application server, then our personal health care data becomes vulnerable and in turn we become a vulnerable target of being unsafe.

For instance, let us take another situation where we use IoT based groceries tracking mobile application. Our daily buying routine of grocery list becomes available to the world out of there and if it is misused, we are vulnerable to invasion of our privacy. This increases safety concerns and thus it is important to make sure that the mobile application has a highly-secured network server.

2. Confusion on return on investment (ROI)

In IoT many suppliers and providers are linked together for various reasons depending upon the purpose to serve. The team of developers and other parties tend to get confused as to which function of their IoT feature will generate ROI. This results in a conflicts, and achieving consensus becomes more difficult. To avoid this risk, everyone has to be clear on their respective rules and all contracts should clearly state whose role is what.

Also read: Despite ethical concerns with AI, IoT is on rise in healthtech

IoT shaping future despite its risks

Research study says that by 2020 the number of users will increase in the field of IoT and there would be more than 20 billion users controlling different applications with their mobile application. Currently more than $273 billion is being spent on IoT app development, and the forecast says the revenue generated would be much more than what is spent.

Following are few ways how IoT will help home utilities in the future

1. Prediction with IoT

IoT, with the help of mobile application data, will help in prediction and anticipation of earthquakes or any such natural disasters. This will help to take necessary precautions and mitigate any catastrophic incidents and damages. With all data being transacted between different IOT devices of construction equipment, earthquakes can be anticipated. This can be done by using business intelligence along with IoT.

2. IoT and agricultural benefits

IoT can help agriculture by analyzing the soil measurement and water availability. This will allow farmers and business entities to make smarter decisions on making a efficient and effective harvest. Data from farming equipment using IoT can be combined to understand the climatic changes. This can help to make better decisions in harvest.

3. IoT and interior design architecture

IoT also extensively helps in gathering details that helps in identifying the right quality of products in the field of architecture. It helps to make efficient purchases and omit unnecessary resources. Using IoT, architects can gather different data from different interior devices or materials installed in different homes. Using this they can understand which materials are optimally cost beneficial.

4. IoT helps using resources efficiently at home

IoT can track and control water and electricity usage at home and help users keep watch of these trends. Based on this, we can make smarter decisions, making sure we balance at a normal water consumption rate and don’t waste them. In home IoT water devices, data are stored on a timely basis, including consumption and storage. This can be used to make efficient decisions on when and how to optimize consumption.

5. IoT helps in law enforcement, security and intelligence

IoT provides a secured surveillance system through which we can monitor our home through devices and make sure everything is safe. It helps in providing a real-time based service too, which makes the customer feel even more safer. Camera devices and security systems that use IoT can be integrated together and can be used for various purposes in law enforcement agencies. This can help reduce the rate of crime.

Also read: This IoT, blockchain startup rewards you every time you drop the food leftover into the waste bin

6. IoT respects your preferences

IoT makes a smart home by automating sun blinds, doors, lights, air-conditioning, etc., based on the environmental factors or the preferences you feed in as data. This ensures comfortable surroundings that cater to your likes and dislikes. Using IoT devices, the preferences of the user are either stored or learned by the device and it works along with the user preference. This makes the environment of a home more likeable to the user as the environment is made to suit their mood.

Over to you: IoT in a nutshell

With better privacy and security regulations, we can eliminate the risks associated with IoT. This will increase the efficiency of IoT usage. Developers are trying hard to make the network more secure and feasible to meet all requirements of the customer. What other applications of IoT do you think will shape the future of home utilities?

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