News & Insights

Things you need to know about the application of IoT

IoT applications have transformative potential across a wide range of sectors, making them a critical area of focus in the digital age. IoT applications are important because they offer opportunities to optimize processes, collect and analyze data, reduce costs, improve safety, enhance customer experiences, and contribute to sustainability efforts. Let us have a look at how organizations are using IoT.

• IoT is being used to track inventory levels in real time, to optimize production schedules, and to predict and prevent equipment failures. General Electric is using IoT to monitor its jet engines and to predict when maintenance is needed. This helps GE to reduce downtime and improve the efficiency of its operations.
• IoT is being used to track customer traffic, to monitor inventory levels, and to personalize the shopping experience. Amazon is using IoT to track customer behavior in its stores and to recommend products to customers based on their browsing history.
• IoT is being used to monitor patients remotely, to track the movement of medical equipment, and to manage drug supplies. Philips is using IoT to develop remote patient monitoring systems that allow doctors to track the vital signs of patients in their homes.
• IoT is being used to track vehicles in real time, to optimize traffic flow, and to improve safety. Uber is using IoT to track the location of its vehicles and to match drivers with riders.