The Internet of Things Explored

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What is The Internet of Things?

Our parent company, CIT Group, recently published a video in which they explore “the next generation of connectivity.”

Before we show you the video, and explain why CIT believes understanding the Internet of Things is so important to businesses, we thought it’d be wise to answer one key question first: What is the Internet of Things?

Simply put, it is a mobile, virtual world where machines talk to other machines and the “cloud” becomes a well-utilized thing of the future. The Internet of Things puts humans in a world where devices that are connected over the internet can talk to us, talk to applications, and even talk to each other.

The funny thing is this craze isn’t new. Since 1989 – when the first internet-connected toaster was announced – tech experts have toyed with the ‘Internet of Things’ idea. Just over 20 years later, in 2012 Cisco believed there were 8.7 billion devices connected to the internet. It’s estimated that in 2020 there will be over 50 billion.

In the CIT video they say, “Devices that talk to each other and share data show promise for retailers, healthcare providers, energy utilities, and beyond.” But, it explains, “Balancing privacy protections with restraints on innovation are less certain.”

Watch their video to find out more about the Internet of Things and what it means for the future of businesses – and their privacy – everywhere.

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