Like a lot of terms in technology, the “Internet of Things” is a buzzword often thrown around, but not always understood. It may bring to mind images once confined to a science fiction novel now made a reality. We may think of our smart home moderating the temperature so it is just so when we get in, or having our cars automatically turn up the volume on our favorite songs as we accelerate down the highway, or a home device knowing what we want before we know we want it through the magic of machine learning.
While these are indeed parts of the Internet of Things’ sprawling universe, people may forget that the most ubiquitous example is one that doesn’t leave most of our side’s often, if at all: our smartphones. With billions of smartphones in circulation, these devices are leading the proverbial charge in the IoT revolution, but how will the proliferation of 5G networks, the competitive landscape and technological precedents in other fields affect how it shapes our digital lives?
“There are a lot of things in technology that are just like this, where the term or the name of the technology or something about it is thrown out very casually and maybe not always fully appreciated,” said Kevin Dennean, CFA, Technology Equity Sector Strategist Americas, UBS Chief Investment Office. "So the Internet of Things, really simply, is connected devices. So if you think about any device that is out there in the world, that has an Internet connection, it's part of the Internet of Things. And I think the Internet of Things is much, much bigger than anybody appreciates, and part of that's because of the definition, but part of that is simply because it is a lot bigger.”
Listen in to learn more in this podcast with Dennean and Anthony Pastore, head of WMA On-Air.