The Internet of Things (IoT) is a buzzword that many people throw around but not everyone understands. While it sounds obscure, the concept is simple; IoT is communication between physical objects that connect via the Internet.
These products are implanted using sensors, monitors, and other devices that allow them to communicate with other connected devices. For example, if a machine in a factory could automatically send an alert to the supervisor’s smartphone when a gear is starting to wear down, that communication would happen through IoT.
It’s easy to imagine hundreds of applications of IoT technology that could simplify or solve everyday challenges. In Latin America, where millions of people still struggle with safety (especially in big cities), access to clean water, or adequate healthcare, the Internet of Things has the potential to provide innovative solutions to these problems.
The field is still in its infancy in Latin America. Since IoT has applications across almost every industry, efforts to join forces or create collaborative solutions have been few and far between. However, the newness of this industry, as well as the rapidly-increasing connectedness of the Latin American population, opens many opportunities for IoT solutions to take hold in the region over the next decade.