28 September 2018, Warangal: SRiX: The next big revolution happening is the Internet Of Things (IoT), already moving at a rapid pace, across the world.
Watching a James Bond film was a fantasy in the eighties, but today you can enjoy the pleasures of being 007 with IoT.
You could control your car, domestic equipment and what not….. With just your mobile phone (that has today become a necessity for our daily existence.) Wondered how all this could happen!
That’s the power of technology and it is IoT. This futuristic journey is pushing the barriers of convenience living limits to an unforeseen extent. The key take away is pragmatism for all, at an affordable cost.
World over technology is evolving on a day-to-day basis and IoT is top on the agenda. SR INNOVATION EXCHANGE (SRiX), a technology business incubator at Warangal, Telangana State, INDIA is all set to host an event, SRiX IoT Hack-X1.0.
In a candid chat with Way2World, Ms Sridevi CEO updated, “SRiX IoT Hack-X1.0 is combination of Business Knowledge Sessions and IoT Product Development Workshops to give you a balanced overview of taking your venture Idea forward by Industrial Experts.”
SRiX incubation facility is collaboration between THE INDUS ENTREPRENEURS (TiE) and investor network KAKATIYA ANGELS at SR GROUP CAMPUS. The event is scheduled on October 26th To 28th, 2018. The organisers expect early stage StartUps and working professionals with basic programming and electronics knowledge, will utilise this opportunity to scale up their objectives.
Now let’s understand what IoT is from a layman’s perspective.
It is the network of many physical devices that have individual IPs and sensors fitted with transmitters that could connect to the internet, predominantly to be controlled or monitored by a single device.
Technically it is an ecosystem of interrelated computing devices, digital machines, equipment and (or) living things to transfer data over the network without the need of human efforts and performs individually as per the requisites of the designer or developer.
IoT has opened the doors for Machine-to-Machine (M2M) communication possibilities easing operation and creating authenticity with real time data. IoT has a huge unforeseen demand in various sectors.
Especially urban scenarios IoT will have massive impact in home and building automation where interconnectivity would make life more comfortable.
On the medical fronts it helps doctors recognise the onset of alarming diseases in patients. This enables medication for prevention rather than taking medicine while suffering.
A small wearable on a patient can predict heart attacks and cardio vascular strokes even before they actually attack. This data can be sent back to their family physicians to seek advice on preventive measures.
In the automobile sector vehicles could be interconnected to increase the ability of sensing, analysing and take action on data collected. This would enable smoother traffic flow, avoid fatal accidents and increase utility of safety standards.
On the other hand, dealers could update software of the sold vehicles and also respond to mechanical breakdowns instantly in real time.
The manufacturing sector could use IoT smart sensors and Machine Learning, to make adjustments in their processes. Also connect their inventories with the system to make the supply chain management more effective.
In Agriculture sector IoT smart sensors remotely have a control over pumps and equipment. In addition to this they also monitor the prevailing condition like air quality and soil profiles and warn the farmer of adversities to take up immediate action in real time.
On the other hand in temperature controlled agriculture / horticulture / floriculture like greenhouses, the sensors send out signals of the drastic changes in the humidity and temperature while also responding to the needs.
Another most important sector that harnesses IoT is the energy industry. While the OIL and GAS companies use IoT to measure drilling lines and subsequently gauge the speed and pressure required for successfully completing the operation. This lets them monetise the whole setup better. The Energy grid enables relevant communication between the grid and the consumer for saving energy and reducing carbon footprints
The main advantages that IoT yields are data collection, tracking and saving on manpower. It is predominantly judged by the market analysts that latest by 2025, IoT products are to dominate the markets and the revenues would amount to approximately USD 1.7 Trillion.
With a plethora of opportunities opening up for the young innovative brains, the SRiX event is an eye opener for the participants.
Way2World admires the initiatives taken by the incubator to enhance the ecology and imbibe entrepreneurship as a main stream option. With inputs from internet – RajKishan