If you’re a player in technology in 2015, you've got inevitably encounter IoT, or Cisco’s Internet of Everything (IoE), two terms wont to describe the interconnection of “things” to the remainder of the connected world, people, devices, process, and data. Coined a decade and a half earlier, it's only within the past two years that “Internet of Things” and “Internet of Everything” have gained the incredible attention and momentum that are fuelling a subsequent wave of the web.
Connecting “things” is that the assumption of IoT, a modern-day occurrence that's making a replacement economy centered on helping in connecting people to people, people to devices and devices to devices. The impact of this new economy is predicted to succeed in $8.0 trillion by 2020 consistent with IDC or $14.4 trillion consistent with Cisco Chairman, John Chambers.
The impact of IoT is staggering and suggests a fantastic opportunity for industries that are traditionally slow to adopt technology to take advantage of the advantages of connecting “things” to drive greater efficiencies. As a case point, consider mining; typically considered as risk-averse, many would propose that mining has done just fine without the hype promised by IoT solutions. From a standard ICT perspective, underground mining has remained within the Middle Ages, sitting years behind the technology adoption curve. The massive majority of North American operations use outdated communication systems that contribute limited scalability not able to deliver high bandwidth, low dormancy data to support modern IoT type applications like autonomous vehicle operation, Ventilation on Demand, real-time location, et al.
“Change is that the new status quo” and as Cisco‘s John Chambers stated eventually year's Cisco IoT World Forum in Chicago, “…companies that fail to remake and embrace the IoT will lose their competitive verge…" this is often a strong statement and one that forward-thinking mines are taking to heart.