Investment and Portfolio Management

Introduction:

Internet of things (IoT) is the concept that revolves around various objects starting from industrial machines to wearable devices, using sensors to collect data and take action on that data across a network. IoT is the future technology which will help to make the life of people more efficient. In today’s world, all the devices are connected to the internet. The Internet of Things simply revolves around machine to machine communication. It functions on cloud computing and networks of data-collecting sensors. As people are not that accurate in saving huge amount of data, the cloud-based applications are the key in solving this problem. 

The Internet of Things functions on cloud-based applications that interpret and transmit the data that comes from the sensors. Industrial organizations are now altering the way of using the old and outdated manufacturing processes (Al-Fuqaha et al., 2015). The devices that are connected to the Internet of Things communicate with the help of wireless internet connection or by using direct scanning of tags by sensors. 

The tagged objects identify the information shared through the use of a scanner (Frost, 2015).  The Internet of Things works on the technology that enables the tagging of objects with information that can be processed and read by sensors and internet enabled devices. The information detected and processed by the sensors can be made available over the internet and not just on the devices that can read the tag. So, the use of Internet of Things has not only helped in machine to machine communication but has also in providing information to people.   

IoT devices:

Wi-Fi Smart Scale:

The Wi-Fi smart scale is a device that helps to track body weight, body fat percentage, body mass index so that the user keep an eye over these things and take the right steps to improve. The device automatically synchronizes and uploads the body stats to an online graph with the help of the wireless connectivity (Giaffreda et al., 2015). With this, the user can access and check the current body stats. The user can set a body goal in this smart scale. Once the user reaches or is near the goal then the smart scale also sends an alert on your smartphone to make you aware about it. The safety and privacy of the user secure discreetly.

Smart Lock:

The smart lock is a device that ensures keyless entry of the house members inside the house by using the smart phone only. Just in case, if a person is not sure that the house door is locked, then the device also helps in monitoring to see if the door is locked when one is away from home. In the situation when the door is left unlocked, then the device send a notification to the user (Osseiran et al., 2017). The battery life of this device is also long lasting and lasts up to a year. The safety and privacy of the user is maintained as the user gets to control the device on the smart phone with the help of wireless network at home.

Smart smoke detector: 

The smart smoke detector is a device that helps to detect smoke and carbon monoxide. The smart device recognizes and knows how to differentiate between the CO2 that is coming out from a toaster from that coming out from fire in the house. The detector gives an early warning through a yellow light that flashes on the device in case if the alarm is triggered. It also sends notification about it to the user’s smart phone (Whitmore, Agarwal & Da Xu, 2015). So, one can determine if the alarm is a false alarm or a serious one, and if so then the user can cancel it by just waving your arm under the product or by disconnecting the device alarm via the smartphone. In this way, even if a person is away from home, the safety and security of the house if maintained through the notification and alerts on the phone.

Smart light bulb:

The smart light bulb helps the user to control the light of the house even from the bedroom or the backyard. So when the user is not at home, the lightening of your house can be controlled with the help of your smart phone via the mobile app. The smart bulb can infuse the right ambiance for any moment with the different color variants (Osseiran et al., 2017). One can wake up naturally, read, concentrate, relax, party and fall asleep easily with the help of the different color adjustments. The user can play with the color and sync the smart bulb with music, games and movies. The smart bulb is energy efficient as it is said that it uses 80% less energy than the traditional bulbs. This smart light bulb is safe and secure as it is controlled by the user through the mobile app from any place and anywhere.

Smart air quality controller:

As the indoor air is more polluted than outside, the smart air quality controller helps to track toxins and chemicals in the air surrounding a person and gives personalized recommendations to help stay safe and healthy. The smart air quality controller identifies the key elements that determine the air quality (Giaffreda et al., 2015). The air quality controller can also be monitored by the user with the help of the mobile app. Thus, the air quality controller lets the user identify and take steps to breathe good quality air. It is a safe device as the user can control it manually or through the mobile app. 

Smart Wi-Fi: 

Smart Wi-Fi, is a new home Wi-Fi system that replaces the existing router system of the house. In Smart Wi-Fi, the Wi-Fi points are placed throughout the house that work together to provide wall to wall coverage without any restriction.  Features like Wi-Fi pause allows customer to take control of Wi-Fi network and the user can spend a quality time with family. It’s just one of the ways in which the user is in charge of the Wi-Fi system. No matter what the size, smart Wi-Fi covers the entire house (Osseiran et al., 2017). Whether the user is gaming with friends in far off places or discovering new music with close one, it meets the needs of all Wi-Fi devices. When settling down to the latest releases, its smart network assistance technology will manage the network and keep it fast.  The device runs with the help of the home Wi-Fi setup. It simply needs to be plugged into the connection and turned on (Whitmore, Agarwal & Da Xu, 2015). The smart Wi-Fi system only requires few buttons to operate. It supports smart phone controls. The entire device is connected to the Wi-Fi setup of the house. Smart Wi-Fi are highly secure and prevent unauthorized connection to the home Wi-Fi system. These devices are used inside the homes and are highly protected with encrypted password.

Smart Bluetooth speaker:-

Smart Bluetooth speaker is device which can do many things over the user’s voice command. It can play songs by searching over various music sites. Just tap on it and say something to perform the work. Along with a physical button option, the device also has hands free mode. During this mode, it can recognize the voice of the user from a distance. It is equipped with Wi-Fi technology and when connected to Wi-Fi, the device can provide news, weather report. One can even order pizza using this device (Giaffreda et al., 2015). With good battery backup, it can run up to 9 hours in normal mode and 8 hours in hands free mode. By using Bluetooth mode in it, audios from smartphones can also be played through the device. The device is equipped with Dolby and dual stereo speakers. It gives 360 omni directional audio. The device firmware can be updated to the latest firmware. As the user has control over the device, the device is safe and secure for use. 

Smart watch:-

Smart watch is a great companion of the smart phone. It can read and show notification that arrives in the smartphone. Some of the function of the smart phone can be controlled by the smart watch. The watch has voice command facility and can perform certain tasks over voice command like calling and messaging someone, accessing the gallery of the smartphone, etc. By clicking just one button, the user can access all the facility (Al-Fuqaha et al., 2015). The user can play music using the smart watch by connecting it to a smartphone via Bluetooth. It works best while using apps like mail, calendar and maps on it. Now one need not take out the phone while walking or driving. This device is becoming a great fashion accessory in today’s world.

Smart home controller:

Smart home controller is a best device to control some of the activities of the house. This device can store favorite channels and one can directly access those channels from the remote later. Its large touch screen gives touch and play option to users. It uses infrared Bluetooth and Wi-Fi network to connect with a network. The device can control new lighting technology, home door lock system, TV, Air-conditioner and some other electronic devices. This device can easily fit in the hand and can be operated using a single hand (Osseiran et al., 2017). It works with over 270,000 entertainment and smart home devices so that users can enjoy single-touch control. This device unifies control of expanding smart home devices into one powerful yet effortless experience. 

Smart Video doorbell:

Smart video doorbell gives the user a unique security feature. Not only does it work as a door bell but at the same time it gives the user an image of the person standing in front of the door. It can record high definition videos of the same also. It has two way talk system- customized motion zone and infrared night vision (Whitmore, Agarwal & Da Xu, 2015). Through its mobile app, user can get instant alert when a visitor presses the doorbell. This triggers the built in motion sensor in the device and see and sends the notification on the smartphone of the user. It is compatible with iOS, Android, Mac and Windows 10 devices. Besides, it takes less time to install the device.

Conclusion:

As the time and technology is changing rapidly, the demand of the people has also increased. The IoT devices are now shaping the lifestyle of people. It is hugely available throughout the market. No doubt that these devices can give the customers a new lifestyle and comfort. As a matter of fact, these devices are not totally secured. The devices can be easily hacked by hackers and become the reason of stress to the users. Without proper user guidelines, these devices are difficult to operate. So, more advanced the IoT devices are, more will be the issues related to it. 

References

Al-Fuqaha, A., Guizani, M., Mohammadi, M., Aledhari, M., & Ayyash, M. (2015). Internet of things: A survey on enabling technologies, protocols, and applications. IEEE Communications Surveys & Tutorials, 17(4), 2347-2376.

Frost, S. L. (2015). Internet of Things (No. LA-UR-15-23789). Los Alamos National Laboratory (LANL).

Giaffreda, R., Vieriu, R. L., Pasher, E., Bendersky, G., Jara, A. J., Rodrigues, J. J., … & Mandler, B. (2015). Internet of Things.

Osseiran, A., Elloumi, O., Song, J., & Monserrat, J. F. (2017). Internet of Things. IEEE Communications Standards Magazine, 1(2), 84-84.

Whitmore, A., Agarwal, A., & Da Xu, L. (2015). The Internet of Things—A survey of topics and trends. Information Systems Frontiers, 17(2), 261-274.

Appendix

Table no. 1

S.N Devices Functions Manufacturer Average Cost 
1. Wi-Fi Smart scale Helps the user get the right body weight, fat percentage and mass index. Google, Amazon,  150$
2. Smart lock Detects if the door is locked or unlocked and sends alert to the user. Amazon, Lockitron 65$
3. Smart smoke detector Detects carbon monoxide and smoke in the house. Amazon, Nest 142$
4. Smart light bulb Helps the user control the lightening of the house. Philips 50$
5. Smart air quality controller Helps the user regulate and maintain the air quality of the house Foobot 199$
6. Smart Wi-Fi Helps the user to get wireless connectivity by replacing the existing router system Google 129$
7. Smart Bluetooth speaker Helps in listening to music and audio via Bluetooth  Sonos 499$
8. Smart watch Gives the user hands free access to the smart phone. Apple 329$
9. Smart home controller Capable of controlling various home activities. Logitech 349$
10. Smart video doorbell Allows the user to know who is there are in front of the door by recording the image and video of the person Ring 239$