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Maintaining a home

How the Internet of Things (IoT) can affect you

22 November 2018

You may have heard the phrase ‘Internet of Things’ (IoT) and thought it sounded perfectly vague and confusing, but it’s surprisingly neither of those things. In fact, the whole IoT concept is probably something you’ve already interacted with, without even realising it.

That’s because, to put it simply, IoT is when devices (i.e. anything with an on or off switch) connect to the Internet and/or to each other. We’re talking everything from ‘smart’ toasters to laptops, cars to mobile phones, and a whole bunch of things in between.

That means you can end up with a coffee machine that’s tuned into your alarm clock (a latte waiting for you when you wake up, anyone?); a fridge that can monitor your grocery levels and send reminders to your phone when you’re running low on something; lights that can be turned on, off, or dimmed using an app, even when you’re not at home; the list is endless!

Embracing the concept of the IoT can help you think about what kind of connected home you want, and how the areas of your life are now seamlessly overlapping. For example, apps like the new Suncorp App let you manage your insurance policies and banking needs in one place, while also offering property insights and the chance to connect with home and car services, negating the need for multiple apps and log-ins.

Explore the Suncorp App

2018: the year for IoT

While the idea of IoT may sound like it only exists in a future far from here, it’s actually something that’s already happening around the world. In fact, 2018 has been (and continues to be) a big year for the growth of IoT, with the world’s leading research and advisory company, Gartner*, predicting that there’ll be more than 11 billion “things” helping us stay connected around the globe by the end of the year. They also estimate that’ll grow to almost 20.5 billion by 2020 so, you know, there are some pretty big things on the horizon.

How IoT could impact your life

While the idea of IoT may sound like it only exists in a future far from here, it’s actually something that’s already happening around the world. In fact, 2018 has been (and continues to be) a big year for the growth of IoT, with the world’s leading research and advisory company, Gartner*, predicting that there’ll be more than 11 billion “things” helping us stay connected around the globe by the end of the year. They also estimate that’ll grow to almost 20.5 billion by 2020 so, you know, there are some pretty big things on the horizon.

Don’t worry, many Australians don’t remember either, but that doesn’t mean that you shouldn’t look. You could be paying less for your energy, and every little bit helps. Online comparison tools let you get a good overview of what’s on offer and where you could be saving money.

Check out how your energy plan compares to the others in the market.

Some of the benefits that the Internet of Things bring include:

  • Seamless interconnectivity, meaning you can write down something in one spot (like an appointment, for example) and that information can be automatically shared to other relevant devices (like the GPS in your car, so it can map out your route as soon you turn your engine on)
  • Convenience (obviously)
  • A ‘birds eye’ view of your life. So that means if, say, you’ve ever wondered if you could be more efficient getting to work in the morning, or you’re trying to easily track particular habits around eating, exercising, wellbeing or productivity, you can get access to a bunch of useful data from all the devices you use in your everyday life
  • Better security and safety, thanks to things like home automation, where your property can lock your doors when you go to bed, or smart cars, with the ability to sense danger on the road
  • Saving energy costs, with smart technology automatically turning on and off heating, lights, and more so that they’re only activated when you need to use them

More and more, technology is able to bring all the different aspects of our lives together in a cohesive, connected, and convenient way. Everything being interconnected and streamlined can make our day to day activities so much easier.

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 *Source: Gartner.com

 


Information is intended to be of a general nature only and any advice has been prepared without taking into account any person's particular objectives, financial situation or needs. You should make your own enquiries, consider whether advice is appropriate for you and read the relevant Product Disclosure Statement or Product Information Document before making any decisions about whether to acquire a product.

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