At the 2014 Consumer Electronics Show, the “Internet of Things” or IoT, was the buzzword that garnered international attention and opened the public’s eyes to the possibility of a truly connected and smart way of living: washing machines that interact with your smartphone, refrigerators that send notifications when you’re low on milk, and even high-tech spoons that let you know when you’ve had enough of that clam chowder.
Here we are, roughly 365 days later, and we’re not just talking about the Internet of Things, we’re talking about the Internet of Everything. No longer will Wi-Fi connected toasters, lamps and coffee makers be mere curiosities, they could soon be the norm.
Companies such as Samsung are betting big on IoT, as CEO BK Yoon announced during his keynote address that the company would pledge more than $100 million to developers for their help in creating an open Internet of Things.
"The opportunities and benefits of IoT are huge, but so are the challenges," Yoon said. "We need an open system and to collaborate across industries, not just within technology."
The move to create an open Internet of Things could prove beneficial to Samsung, as this would allow different devices such as smartphones running different operating systems to connect to various smart devices. One of the hurdles that IoT has encountered so far has been hardware and software developers creating proprietary technology that only works within their own ecosystems.
"I’ve heard people say they want to create a single operating system for IoT, but these people only work with their own devices," said Yoon. "We can deliver the benefits of IoT only if all sensors can talk to each other."
Samsung also announced that by 2017, 90% of all Samsung products would focus on IoT, with that number ticking up to 100% by 2020.
The Internet of Things is limited only by itself, and it looks like companies such as Samsung have figured this out. By positioning themselves as a leader in IoT, they are doing themselves – and the movement as a whole – a huge favor.