The Economic Impact of a Connected Society

As the traditional M2M industry begins to evolve beyond simple machine connectivity, it is very clear that we are in the nascent stage of much greater IoT possibilities: business and life transformation. While sometimes viewed as intrusive, monitoring and the use of data analytics can lead to tremendous societal benefits. Deploying smart meters and monitoring water usage by a city in Texas led to a 60% water savings – no small feat in a drought plagued region. Monitoring the activities of certain patients (e.g. those with Alzheimer’s) or the elderly with home sensors may be seen as intrusive on their private lives, but might also enable them to remain in their homes longer, reducing managed care costs and improving quality of life. Remote monitoring of energy usage patterns could provide an indication that things were “steady state”, while a change in usage pattern could indicate a problem requiring intervention. What are the societal benefits to IoT and are there any hard benefits that could be replicated in other vertical markets?

Matt Maher Peterson, APANA; Jim Williamson, Capstone Metering; Kenny Hawk, Mojio; Jerry Faught, WLS Lighting

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