The Internet of Things -- Internet of What?
As devices become more connected and are able to communicate with each other, banks will need to develop ways to participate in this new technology.
The Internet of Things is a concept that basically covers devices that can connect together and communicate. A smart watch, for example, is able to connect to the Android phone and interact with specially designed apps. A Nike+ shoe monitor is placed inside the running shoe to communicate information to the Nike+ running app on the user’s mobile device. A Jawbone Up communicates all activities for a user during the day (steps taken, miles walked, etc.) and also can monitor sleep patterns at night. The results of which are viewed on the user's mobile device. These all fall into the concept called Wearable Computing, which is a subset of Internet of Things. Less sophisticated devices might include a wireless webcam that allows a user to access it via a special URL and password or a small device that can be attached to an item to track its location. Read full story on Bank Systems & Technology
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