You already know that IoT (Internet of Things) is a term that identifies items that have enough intelligence and communication abilities to send messages across the internet. Kevin Ashton supposedly coined the phrase “Internet of Things” while working for Procter & Gamble in 1999.
At first, IoT was largely focused on the consumer. The connected home, the connected car, wearables, smart lights are the common examples.
The news media has always told us that Al Gore invented the Internet, but who started the industrial/business version of IoT? Most agree it was the General Electric Company, a pioneer in embracing IoT technologies and applying it to industrial scenarios. They even renamed it, “the Industrial Internet”. Now we are seeing that low cost sensors, wireless connectivity, and sufficient computing power are being implemented in industrial manufacturing at an increasing scale.
General Electric is the most visible leader in the development of IoT applications. They manufacture some extremely expensive and complex industrial products which are now equipped with sensors to generate millions of data elements for analytical purposes. They capture and analyze data to predict failures and schedule maintenance and replace parts. GE is making constant improvements rather than massive disruptive technology change because small cost savings for huge expenditures and expense items add up to massive savings.
Examples of what GE has developed include:
– Thousands of sensors on aircraft engines are being used to identify ways to improve flight patterns, predict maintenance needs, and reduce fuel costs.