Some insurance companies, for example, are offering to install location sensors in customers’ cars. That allows these companies to base the price of policies on how a car is driven as well as where it travels. Pricing can be customized to the actual risks of operating a vehicle rather than based on proxies such as a driver’s age, gender, or place of residence.
consumer benefit? Or profilin opportunity?
In the oil and gas industry, for instance, the next phase of exploration and development could rely on extensive sensor networks placed in the earth’s crust to produce more accurate readings of the location, structure, and dimensions of potential fields than current data-driven methods allow. The payoff: lower development costs and improved oil flows.
OF COURSE it's used for oil
As for retailing, some companies are studying ways to gather and process data from thousands of shoppers as they journey through stores. Sensor readings and videos note how long they linger at individual displays and record what they ultimately buy. Simulations based on this data will help to increase revenues by optimizing retail layouts.
In the pulp and paper industry, for example, the need for frequent manual temperature adjustments in lime kilns limits productivity gains. One company raised production 5 percent by using embedded temperature sensors whose data is used to automatically adjust a kiln flame’s shape and intensity.
an actual stat
Utilities such as Enel in Italy and Pacific Gas and Electric (PG&E) in the United States, for example, are deploying “smart” meters that provide residential and industrial customers with visual displays showing energy usage and the real-time costs of providing it.
Based on time-of-use pricing and better information residential consumers could shut down air conditioners or delay running dishwashers during peak times. Commercial customers can shift energy-intensive processes and production away from high-priced periods of peak energy demand to low-priced off-peak hours.
The most demanding use of the Internet of Things involves the rapid, real-time sensing of unpredictable conditions and instantaneous responses guided by automated systems.
The automobile industry, for instance, is stepping up the development of systems that can detect imminent collisions and take evasive action.
The potential accident reduction savings flowing from wider deployment could surpass $100 billion annually.
Some companies and research organizations are experimenting with a form of automotive autopilot for networked vehicles driven in coordinated patterns at highway speeds. This technology would reduce the number of “phantom jams” caused by small disturbances (such as suddenly illuminated brake lights) that cascade into traffic bottlenecks.
current experiments to reduce traffic jams
Scientists in other industries are testing swarms of robots that maintain facilities or clean up toxic waste, and systems under study in the defense sector would coordinate the movements of groups of unmanned aircraft.
In case you're wondering... YES, ROBOTS ARE GOING TO REPLACE YOU.
Show all 12 highlights
These experiments could also spur fresh thinking about how to tackle tasks in inhospitable physical environments (such as deep water, wars, and contaminated areas) that are difficult or dangerous for humans.