Busting The Top 10 Myths About The Internet of Things

It is an injustice to innovation to refer to some of the most crucial innovations as just buzzwords. But, unfortunately, the Internet of Things (IoT) is one of these technology domains that most people refer to without adequately understanding its nuances or technical factors.

The term "Internet of Things" was coined by sensors expert Kevin Ashton in 1999. But, unfortunately, it has been mythologised beyond recognition by so-called technology professionals. Yet, according to Ericsson, IoT connections will reach 3.5 billion by 2023, with a CAGR of 30%. Therefore, it is very crucial than ever to clear up the public's misconceptions and fears about this technology.

IoT has been mythologised, which has sometimes fueled irrational fears as well as irrational enthusiasm. Some of these myths contribute to erroneous economics, which affects everyone in the long term. That is why it is important to debunk some of these myths and truths.

The Internet of Things phenomenon can improve so many aspects of life that the list is unending. And, for this phenomenon to have a positive impact on us, we must pay more attention to facts.

This article will aim to dispel some widespread myths regarding IoT that have arisen as a result of superficial understanding. We begin by developing an explanation of IoT that is simple enough for an industry outsider to understand.

A Small Overview of the Internet of Things

IoT's heart is a system of connected computing devices, mechanical and digital machines, and other things and humans. Each of these components is given a unique identifier and the capacity to move data over a network.

These network interactions need not involve any human-to-human interaction and, eventually, will not require any human-to-machine interaction. So, in a nutshell, IoT entails connecting all of the objects we use to the Internet.

Myths about IoT typically occur as a result of the technology's broad definition and understanding. The current concept of IoT components includes sensors that collect and send data, computers, and the supporting network.

Despite the efforts of various online news outlets and professionals to explain IoT principles, several fallacies appear to be making their way into debates. Let us now go over some of these myths and try to debunk them.

What Are the Most Common IoT Myths?

The influence of IoT mythification is hindering the advancement of this technology and causing excessive worries. Because of these concerns, the economics of IoT may suffer, and funding for additional studies on these concepts may be blocked. Some of these harmful beliefs are as follows:

Myth 1: IoT is just another variant of M2M.

With data travelling between various devices, IoT appears to contain many features of M2M. However, it covers a lot more than that. In IoT, more than one host on the Internet may act as a repository and control system. IoT also means remote monitoring and control of non-machine-like devices such as smartphones, which would have an application connecting with the same host as other devices.

Looking at IoT as if it were another M2M is, in my opinion, incredibly restrictive. It is okay to use an analogy from M2M to explain IoT to someone knowledgeable about M2M. However, comparing it to M2M or thinking of it as the same does not seem rational. It seems more logical to consider IoT as an extension of M2M.

Myth 2: IoT is only about sensors and devices.

So far, the general assumption and expectation appear to be that IoT should always include sensors and devices. They are, however, only one of several sources of information for IoT solutions. Some items and sensors generate data, whilst others respond in response to inherent logic or remote commands. However, IoT is more than simply sensors and things; it is also about managing and supporting the complete IoT solution. Therefore, the answer would include items, sensors, and other infrastructure components such as gateways, hubs, repeaters, cloud, application, software, etc.

It limits the IoT view to simply sensors or things that may appear rational for device and sensor manufacturers. It restricts their ability to see the entire picture. From the end-user's perspective, an end-to-end application makes sense, and items and sensors are just gears in the wheel.

Myth #3: IoT is solely about big data

The IT industry propagates another major misconception concerning IoT. As previously indicated, it is not valid. Big Data is the concept that meaningful information can be retrieved or obtained from a vast quantity of data. With the introduction of the IoT phrase, everyone has begun to associate it with innovative and linked items. In some circumstances, data being aggregated may be sourced via IoT devices, but this is not a requirement or characteristic of the bulk of IoT devices at this time. Many machines are frequently linked to an app on a user's smartphone. Quite often, the data created by IoT devices do not even approach big-data levels. Just because a large amount of data can be generated with minimal effort does not guarantee that it will be generated. That is an entirely inefficient strategy.

Myth 4: All Internet of Things devices must and will function together.

While it appears too fantastic to be accurate and honest, it seems implausible because most gadgets are isolated from the rest of the globe. However, those gadgets may be compatible with other devices from the same vendor. From a business standpoint, it only makes sense to keep everything under control for the time being. The majority of these companies do provide API access to their device data and minimal supervision. It is not, however, guaranteed and may or may not adhere to stringent criteria. While the protocols utilised in IoT solutions are somewhat limited, it is always the vendor's responsibility to share data or control using these protocols.

In reality, there is minimal incentive to develop any device that can communicate with any other heterogeneous device in the world. As a result, while cars can communicate with one another, they cannot communicate with televisions. Devices would eventually be logically categorised, with a few standards dictating interoperability and communication methods among device group members. In general, all IoT devices will not communicate with one another.

Myth 5: Any Internet of Things device may be remotely hacked.

One of the overhyped security challenges these days is that every IoT device may be remotely hacked and, as a result, requires extensive security. The truth, on the other hand, is quite different. Every IoT device cannot be remotely hacked and, in certain circumstances, cannot even be hacked locally. Aside from SSL and data encryption, many other concerns to consider while developing an IoT solution. This encompasses the device's physical security, collateral harm, misapplication, and so on.

Consider a temperature sensor that sends temperature measurements at regular intervals to a gateway or hub, or perhaps straight to the Internet. Do you believe it can be hacked in any way? How may this device's functionality be altered? How would a hacker modify and ruin the gadget if it does not usually listen and only transmit data? Do you believe it may be hacked in any way? How may this device's operation be altered? How might a hacker tweak and break this gadget if it only listens and adequately transmits data? Data spoofing and alterations while in transit are separate issues that do not affect IoT devices as a whole. However, its influence may still be seen in the overall solution.

The primary development of IoT is the interconnection of "things," which results in insights and synergies. However, that same connection poses security and privacy problems that must be addressed.

The takeaway here is that not every IoT system is hackable. There are only a few flaws that need to be addressed.

Myth No 6: FOMO (Fear of Missing Out)

Many people are experiencing FOMO these days as a result of overhype. FOMO stands for "Fear of Missing Out." This dread is being fueled by deft sales strategies designed to promote items at various levels. Many businesses believe that if they do nothing about IoT today, they will lose forever.

Losing an opportunity is an inherent problem, and IoT is no exception. However, if you are experiencing FOMO, you should ask yourself, "Is it relevant now?"

For example, if your sector currently has the infrastructure or relevance to link products to the Internet, would it make sense to convert your product or solution to the Internet? Why would someone squander resources by starting anything too soon? The critical phrase here is "too early." It's a different storey if a corporation wants to take the lead and establish the standard by being the first in the industry.

Just keep in mind that IoT is not a timed or restricted phenomenon, and the clock is not ticking! It will be around here for many years yet to come. So being antsy and rushing into anything will only harm your product. Instead, maintain a close eye on the situation and seize the chance only when the timing is appropriate.

Myth 7: It is simple to implement an IoT solution.

And this is the biggest of them all! Because of open source tools, different low-cost boards, and software packages, the misconception that delivering an IoT solution is relatively simple has gained traction in many people's minds.

This is what most companies marketing IoT development solutions want you to believe. However, simply connecting an IoT device to a user application is only the beginning. Any low-cost development kit will allow you to do this in a flash.

The problem is scaling from a single IoT device to many of them and then monetising them while retaining dependability, security, and privacy. When we mention a solution, we are referring to a vast array of factors. For actual IoT solution developers, factors such as commercial viability, product feasibility to customer acceptance, user education, service and maintenance, and liabilities, among others, are critical. An IoT solution is far more priceless than a single connected product, innovative product, mobile app, cloud software, dashboard, or application programme. To produce a meaningful solution that is business viable, technically practical, and makes sense for clients, each IoT solution development must touch base with at least seven vital stages.

We've been working on several IoT projects over the last few years and have seen how those who began their journey with assumptions based on some of these myths are having difficulty and failing to reap actual benefits. Instead of making money, they are squandering it on patchworks and becoming dissatisfied.

The truth is that delivering a proper IoT solution is complex. It may be simple to demonstrate a physical prototype or develop an app or software that performs complex functions. However, it is a real pain from a solution relevant to its users and customers.

Conclusion

Many of the myths mentioned above necessitate a more extended debate to distil more facts. It will be easier to develop the best strategy and approach for implementing IoT in your business or product with more information. Having a professional and balanced approach as opposed to any hype would be more beneficial. Given all of this, it would be unwise to ignore these warning signs while utilising the potential of IoT.