While I do not agree with the statement that until recently only computers, tablets and phones were able to connect with the internet, I do see the Internet of Things playing a potentially huge role in driving new finance and banking applications. Data and information – and the ability to analyze it successfully to mitigate risk, are the lifeblood of the insurance, banking and finance industries. The following article references some interesting use cases.
Until recently, only devices such as computers, tablets and phones were able to connect to the internet. But now there are approximately8 billion ’network aware’ machines globally that are internet enabled and can communicate and interact with other machines, creating the Internet of Things (IoT). And this figure could grow to over 50 billion connected devices in the next five years.
