Category

Economy

Category

Edge computing has emerged as a transformative technology for the Internet of Things (IoT), fundamentally altering how data is processed and managed within IoT ecosystems. By enabling data processing closer to the source, edge computing significantly enhances IoT infrastructure, leading to improved efficiency, reduced latency, and enhanced security. This article delves into the intricacies of edge computing in the IoT domain, exploring its impact and the potential it holds for the future of IoT.

Introduction to Edge Computing in IoT

The Internet of Things, a network of interconnected devices capable of collecting and exchanging data, has seen exponential growth in recent years. IoT devices range from simple sensors to complex industrial machines. Traditionally, IoT devices would send all collected data to centralized cloud-based services for processing and analysis. However, this approach often leads to high latency and increased bandwidth usage, which can be detrimental in scenarios requiring real-time data processing. This is where edge computing comes into play.

Edge computing refers to data processing at or near the source of data generation, rather than relying solely on a central data-processing warehouse. This means that data can be processed by the device itself or by a local computer or server, which is located close to the IoT device.

Enhanced Efficiency and Reduced Latency

One of the primary advantages of edge computing in IoT is the significant reduction in latency. By processing data locally, the need to send all data to a central cloud for processing is eliminated, thereby reducing the time it takes for the data to be processed and the response to be sent back. This is particularly crucial in applications where real-time processing is essential, such as autonomous vehicles, industrial automation, and smart grids.

Moreover, edge computing reduces the bandwidth required for data transmission, which is particularly important given the growing number of IoT devices and the massive volume of data they generate. By processing data locally and only sending relevant or processed data to the cloud, edge computing alleviates the strain on network bandwidth.

Improved Security and Privacy

Another critical aspect of edge computing in IoT is the enhancement of security and privacy. By processing data locally, sensitive information does not have to travel over the network to a centralized cloud, reducing the exposure to potential security breaches during transmission. Local data processing also means that in the event of a network breach, not all data is compromised, as some of it remains on the local device or edge server.

Furthermore, edge computing allows for better compliance with data privacy regulations, as data can be processed and stored locally, adhering to the legal requirements of the region in which the IoT device is located.

Enabling Advanced IoT Applications

Edge computing unlocks the potential for more advanced IoT applications. For instance, in the field of healthcare, wearable devices can monitor patient health data in real-time, processing and analyzing data on the spot to provide immediate feedback or alert healthcare providers in case of an emergency. In industrial settings, edge computing allows for predictive maintenance of machinery, where sensors can process data on the machine’s performance and predict failures before they occur.

Challenges and Considerations

Despite its advantages, implementing edge computing in IoT comes with its own set of challenges. One of the primary concerns is the management and maintenance of edge computing nodes. Unlike centralized cloud servers, edge devices are distributed and may be located in remote or hard-to-reach areas, making management and maintenance more challenging.

Additionally, ensuring the security of edge computing devices is crucial, as these devices could become targets for cyber-attacks. Unlike centralized data centers, which typically have robust security measures in place, edge devices may not have the same level of security, making them vulnerable.

The Future of Edge Computing in IoT

Looking ahead, the future of edge computing in IoT appears promising. With advancements in technology, edge devices are becoming more powerful, capable of handling more complex data processing tasks. This evolution is expected to drive further adoption of edge computing in various sectors.

In conclusion, edge computing represents a paradigm shift in how data is processed within IoT infrastructures. By enabling data processing closer to the source, it addresses the challenges of latency, bandwidth usage, and security. Although there are challenges in implementing edge computing, its benefits are significant, paving the way for more efficient, secure, and advanced IoT applications. As technology continues to evolve, edge computing is set to play an increasingly pivotal role in the IoT landscape, driving innovation and enabling new possibilities.

The post The Impact of Edge Computing on Data Processing and IoT Infrastructures appeared first on IoT Business News.

Telit Cinterion, a global enabler of the intelligent edge, and Rutronik, one of Europe’s leading broadline distributors, have seamlessly collaborated since 2007, providing a comprehensive portfolio of IoT products and services.

That robust partnership is now reaching new heights as Rutronik introduces Cinterion’s complete product range to its offerings in the EMEA region. The strategic move enhances Rutronik’s capability to deliver a diverse selection of cutting-edge components, including mobile communication, Wi-Fi, Bluetooth, GNSS positioning modules, SIM solutions, and various cloud services, to meet individual customer requirements more effectively.

After Telit became Telit Cinterion on January 1, 2023, the company expanded its range of secure IoT solutions in the area of modules and mobile connectivity. The additional product portfolio is now added to Rutronik’s linecard. The family-owned company was already the largest distribution partner in the EMEA region and the additional components will further expand this successful partnership. Among other products, components like the compact 5G modem card MV32-W, the IoT module PLS83-W, and the wireless IoT module TX62 are now included.

“Rutronik’s dedication to maintaining substantial stock levels not only solidifies their position as a dependable distribution partner but also underlines their reliability in meeting the diverse and dynamic demands of the market,” said Rene Heckeler, Sales Director of Global Distribution, Telit Cinterion.

“Together, we are poised to continue our joint journey, pushing the boundaries of IoT technology and further enriching the constantly evolving landscape of IoT solutions within the region.”

Tailor-made customer solutions thanks to highly innovative components and expertise

A key component of success is the combination of highly innovative products and expert knowledge. Rutronik’s Field Application Engineers (FAE) work hand in hand with the experts from Telit Cinterion to ensure an excellent consulting service.

“Together, Rutronik and Telit Cinterion have committed to pooling their expertise at both the technology- and employee-level to transform the wireless IoT market in EMEA,” said Jens Rook, Senior Sales Director, Telit Cinterion.

“Through continuous investment in training and skill development, we ensure that our teams offer the latest technological innovations and provide the highest level of service and support to our valued customers across the region.”

Daniel Barth, Senior Manager Product Marketing Wireless at Rutronik, adds: “Our aim is always to act in the interests of our customers and to offer the best solutions that are precisely tailored to their needs. With the combination of highly innovative components from Telit Cinterion, our expertise, and our services, we achieve exactly that. We are convinced that by expanding our product portfolio, we will continue to write our success story by offering our customers a comprehensive range of first-class wireless hardware, mobile contracts, and cloud services.”

The post Telit Cinterion and Rutronik expand their strong partnership appeared first on IoT Business News.

Businesses are using the Internet of Things (IoT) more and more these days to make the most of the data from various different connected devices. And this data can be especially useful for improving Search Engine Optimization (SEO). By using insights from IoT devices, as a business you can update your SEO strategies, get to know how users behave and what they like, helping to create a better and more personalised online experiences. Read on to find out more about this.

Understanding IoT Data

IoT devices ranging from everything from smart thermostats to wearable fitness trackers, and they churn out a whole lot of data. The masses of information provides a goldmine for businesses looking to refine their SEO tactics, but it’s not just about the quantity of data. Itt’s all about extracting meaningful insights that can steer your SEO efforts in the right direction.

User Behavior Insights

One of the main benefits of leveraging IoT data is the ability to gain a better understanding of user’s behaviour. Analysing how users interact with connected devices can reveal patterns, preferences, and pain points. For instance, if your target audience predominantly accesses your website through a smart home device, tailoring your content to align with voice searches is an obvious change. Knowing the preferred device or time of day for user engagement allows for better optimisation.

Personalisation

Personalised experiences resonate with users. IoT data enables businesses to deliver content that aligns with individual preferences. Imagine a scenario where a user regularly accesses your website via a wearable fitness tracker. Armed with insights into the user’s fitness routine, preferences, and health goals, you can tailor content to offer relevant tips, product recommendations, or exclusive fitness-related promotions. This level of personalisation not only enhances user engagement but also contributes positively to SEO metrics.

Refining Keyword Strategies

Understanding the language users employ when interacting with IoT devices can help with your keyword strategies. Voice searches are a common feature in many IoT devices, and often differ in structure from traditional text based searches. Incorporating conversational and long tail keywords can optimise your content for these voice activated queries, making sure that your website remains visible in search results. Have an SEO expert help with this if you’re not sure which keywords to target.

Enhancing Website Performance

IoT devices are often characterised by having fairly limited processing power, so emphasise the importance of a fast and responsive website. Google considers page speed a crucial ranking factor, and a quick loading website will always contributes to that positive user experience you’re after. By analysing data from IoT devices, as a business you can identify potential bottlenecks or elements that are slow to load, which then allows you to target improvements that can positively impact your SEO rankings.

Security

When you’re embracing IoT data for improvements with your SEO, you must always prioritise security. Both SEO and user trust hinge on a secure online environment. Google favours secure websites, and users are more likely to engage with a platform that safeguards their data. Implementing robust security measures makes sure that there’s a win-win scenario, with improved SEO rankings and user’s confidence being boosted too.

The post Using IoT in Data-Driven SEO Strategies appeared first on IoT Business News.

Low-cost, solar-powered satellite tracker designed for remote IoT operations and off-grid tracking of assets.

Globalstar, Inc., the next-generation international telecommunications infrastructure and technology provider, today announced that it has added GSatSolar to its portfolio of industrial IoT asset tracking solutions.

Offered in partnership with Global Satellite Engineering (GSE), the small, rugged, low-cost tracking device enables VARs and customers to maximize the value of their tracking software tools by increasing the number of trackable assets in near-real time.

Ideal for remote IoT operations, the satellite powered device allows for a greater number of trackable assets, providing more reliable usable data in the field, improving efficiency, and allowing for true remote IoT autonomous data collection.

“GSatSolar is a low-cost option to monitor assets remotely on the Globalstar LEO network and delivers a plethora of verified IoT data across IoT applications,” said Jake Rembert, vice president of sales at Globalstar.

“The GSatSolar is a versatile solution that expands our satellite tracking capabilities. As with all our IoT asset tracking solutions, it features low power, long life and is equipped to perform.”

GSatSolar is highly durable, heat and cold resistant, and minimally invasive regarding antenna performance. Its compact size makes it viable with several flexible mounting options to fit the needs across various enterprise industrial applications. With its solar panel and internal battery, a standard unit reports for years assuming an environment with regular sun exposure.

Data collection capabilities include location, accelerometer, and Bluetooth sensor options, with the option of having data forwarded either to Globalstar’s SPOT My Globalstar data management and mapping platform — with features such as live and historical tracking on demand, alerts, geofences and shared views—or directly to a VAR’s back office or customer endpoint.

The post Globalstar Introduces GSatSolar to its Industrial IoT Asset Tracking Portfolio appeared first on IoT Business News.

Quectel Wireless Solutions, a global IoT solutions provider, announces the new Quectel SG520B series of 5G Sub-6GHz, Wi-Fi 6E and Bluetooth smart modules.

The module series has been developed to meet growing needs for smart modules which can support not only connectivity but also a variety of functions, such as edge computing capability, graphics processing, multimedia and operation of peripherals such as displays, cameras and touch panels. The modules feature a built-in up- to-date Android operating system and are based on the Qualcomm® QCM4490 64-bit octa-core processor from Qualcomm Technologies, Inc.

Offering comprehensive cellular connectivity options including worldwide 2G, 3G, 4G and 5G coverage, with LTE Cat 15 and both 5G Release 16 standalone (SA) and 5G non-standalone (NSA), the modules offer 5G and LTE multiple input multiple output (MIMO) technology. This enables them to address growing market demands for high data rate and link reliability for wireless communications. The utilization in MIMO of multiple antennas at the receiver end at the same time and on the same frequency band significantly minimizes errors and optimizes data speed.

Norbert Muhrer, President and CSO, Quectel Wireless Solutions, said:

“The Quectel SG520B Series of 5G Sub-6GHz smart modules are powerful, versatile modules that are ideal for enabling rich device functionality alongside unparalleled connection performance across multiple cellular, Wi-Fi and Bluetooth options.”

“We see huge potential for the SG520B Series to support use cases in the industrial, enterprise and consumer markets that demand rich media functionality backed by high performance processing and connectivity.”

Further connectivity choices include 2×2 MIMO Wi-Fi 6E, IEEE 802.11 a/b/g/n/ac/ax. and Wi-Fi dual band simultaneous (DBS), with peak data rate up to 3.6Gbps. In addition, the smart modules offer Bluetooth 5.2 and the option of a multi-constellation global navigation satellite system (GNSS) receiver for applications that require fast and accurate fixes in any environment.

Designed for industrial and consumer applications that require high data rates and support for powerful multimedia functions, typical use cases include smart gateways, customer premise equipment (CPE), Mi-Fi devices, point of sale (POS) terminals, cash registers, dashcam, digital signage and industrial PDAs etc.

Available in a 42.5mm x 56.5mm x 2.95mm LGA package, the SG520B Series has an operating temperature range of -35 °C ~ +75 °C. The modules will support NSA/SA with maximum 5G downlink speeds up to 2.5Gbps and uplink speeds up to 900Mbps. For 5G NSA deployments, the modules will support 2.5Gbps downlink and 550Mbps uplink, again depending on which regional variant is selected. The modules also support 1080p H.265/H.264 video encoding and decoding.

The post Quectel launches SG520B series of 5G Sub-6GHz smart modules with powerful multimedia functionality appeared first on IoT Business News.

An exclusive article by Rich Lansdowne*, Senior Director Cloud Services at Semtech.

Imagine you’re the director of the New York Philharmonic, planning a grand symphony orchestra event. With the finest instruments and the best musicians at your disposal, you’re set for an outstanding performance. However, anyone familiar with classical music knows that without a conductor to harmonize the instruments, manage the tempo, and guide the musicians through complex scores, even the most talented ensemble could descend into disarray.

Similarly, in the ever-evolving landscape of the Internet of Things (IoT), managed service platforms are not just facilitators; they are the linchpins that enable organizations to unlock the full potential of IoT solutions. Just like a conductor in an orchestra, a managed service IoT platform harmonizes the diverse components of IoT.

These platforms ensure that every ‘instrument’—from sensors on a factory floor to smart streetlights in a city—plays in perfect harmony. They ‘conduct’ the installation, manage the ‘tempo’ of data flow, and ensure that every ‘note’ of data is secure and precisely tuned. Without this guiding hand, the potential of IoT, akin to an orchestra without a conductor, would struggle to reach its full, melodious potential.

For this reason, managed service IoT platforms are increasingly becoming the backbone of connected device ecosystems. They offer a comprehensive suite of services that support organizations throughout the entire lifecycle of IoT deployment, transforming complexity into simplicity, the unreachable into the accessible, and the overwhelming into the effortlessly manageable. In a world where efficiency and connectivity reign supreme, these platforms are the vital links that seamlessly integrate our digital existence.

Global Connectivity and Installation Support

One of the primary advantages of managed service IoT platforms is their ability to offer global connectivity solutions seamlessly. With the proliferation of IoT devices worldwide, it’s crucial for organizations to maintain a reliable and secure connection across different networks. Managed service platforms typically have agreements with multiple network providers, ensuring resilient access across various regions. With a global SIM and connectivity management platform, companies can simplify the process of connecting devices anywhere in the world, which is particularly beneficial for organizations with international operations.

Installation support is another critical service provided by good managed platforms. Deploying IoT devices can be a complex task, especially when it involves a large number of devices across multiple locations. A worthwhile managed service provider can take the lead on installation, ensuring that devices are correctly set up and integrated into existing systems, which can significantly reduce the burden on internal IT teams.

Hardware Leasing

Another aspect where managed service IoT platforms can add value is through hardware leasing options for things like Satellite Tracking and Broadband Access. This approach allows organizations to avoid the high upfront costs associated with purchasing IoT devices outright. Instead, they can opt for a subscription-based model that includes the leasing of hardware, reducing capital expenditure and providing the flexibility to scale up or down as needed.

Device and Data Management

Effective device and data management are at the heart of any successful IoT strategy. Managed service platforms offer tools and services that allow organizations to monitor and control their IoT devices remotely. This includes updating firmware, managing device configurations, and troubleshooting issues without the need for on-site visits, which can be both time-consuming and costly.

Data management is equally important, as some IoT devices generate vast amounts of data that need to be collected, processed, and analyzed, while others just send a few crucial bytes. Managed service IoT platforms often come with built-in data management and analytics tools, enabling organizations to gain insights into their operations and make data-driven decisions, often saving them both money and time.

Addressing Market Challenges

Like all markets, the IoT market is not without its challenges. From the complexity of managing a diverse array of devices, to security concerns, and the need for specialized skills to handle IoT deployments. Managed service IoT platforms address these challenges by providing a unified solution that simplifies management, enhances security with end-to-end encryption protocols like LWM2M (Lightweight M2M), and offers access to expertise in IoT technology.
For instance, the implementation of the LWM2M protocol in a managed service platform would provide a secure solution by encrypting data from the device to the application. This standard protocol ensures that sensitive information remains protected, addressing one of the key concerns in IoT deployments.

Managed Services Are Pivotal to IoT

In the ever-evolving landscape of Internet of Things (IoT), managed service platforms are not just facilitators; they are the linchpins that enable organizations to unlock the full potential of IoT solutions. By offering a comprehensive suite of services, from global connectivity to intricate device and data management, these platforms are instrumental in overcoming the challenges inherent in IoT deployment.

When exploring managed IoT platforms, it’s crucial to consider those that are pioneering in the integration of protocols like LoRaWAN. Equally important is the recognition of technologies like LoRa Sensors for their unique ability to enable long-range data transmissions with amazing battery life. This capability is a game-changer in IoT, expanding the horizons of data communication and device interoperability.

LoRa’s significance in IoT is not just about its technical prowess but also about the doors it opens for innovative applications. From urban to rural, industrial to consumer spaces, the implications of long-range, low-power IoT solutions are vast and varied. This technology brings a new dimension to IoT, allowing for solutions that were previously inconceivable due to range and power limitations.

As we continue to navigate the complex world of IoT, it’s important to acknowledge the role of managed service platforms and technologies like LoRa in shaping the future of connectivity. They embody the spirit of innovation and progress, driving us towards smarter, more efficient, and more connected solutions. The journey of IoT is one of continuous exploration and growth, and these technologies are at the forefront, leading the way in transforming how we interact with the world around us.

In this dynamic environment, the true power of IoT lies in its ability to adapt, evolve, and integrate technologies that push the boundaries of what’s possible. Managed service IoT platforms and technologies like 5G and LoRa are pivotal in this journey, guiding us towards a future where the potential of IoT is fully realized.

*About the author: Rich Lansdowne, Senior Director Cloud Services at Semtech. Rich is currently responsible for Semtech’s Cloud services and IoT platform. He has been deeply involved with low power IoT and LoRaWAN since the formation of the LoRa Alliance in 2015. With a long history in cellular communications and system-on-chip design, he spearheaded a move to couple silicon to cloud services for low-power IoT and, with the acquisition of Sierra Wireless, the integration of Cellular IoT services with LoRaWAN.

The post Orchestrating the IoT World: The Indispensable Role of Managed Service Platforms appeared first on IoT Business News.

Empowering Turkish product makers with the C16QS Smart Cellular IoT Module for Cost-Efficient, High-Performance Cat 1.bis IoT Solutions.

Cavli Wireless, a pioneer in cellular IoT module manufacturing, today announced the launch of its new ultra-low-cost C16QS LTE Cat 1.bis cellular IoT module in the Turkey market.

This launch is not just a strategic step towards meeting the growing demand for low-cost 4G smart connectivity solutions in the region; it marks a significant milestone in Cavli Wireless’s commitment to the Turkish market, addressing its specific needs for affordable, high-quality IoT connectivity.

The Cavli C16QS, a state-of-the-art single-mode LTE Cat 1.bis Cellular Module, epitomizes Cavli’s commitment to high-quality, affordable smart connectivity. Designed in line with 3GPP Release 14 standards, it features a small form factor and integrated eSIM and GNSS, requiring only a single antenna and fewer power amplifiers. This design reduces space and power consumption, allowing smaller modules with region-specific deployment. Tailored for the Turkish market, the C16QS offers OEMs the chance to cut initial hardware costs due to its competitive pricing, making it a cost-effective local solution.

Its ability to easily switch between networks, coupled with global connectivity and device management capabilities, makes it ideal for various smart connectivity applications. Additionally, a separate battery can power the GNSS without activating the LTE, further enhancing power efficiency. The integration of both RAM and NOR Flash on the chip ensures a smaller device footprint and faster performance, meeting the diverse connectivity needs and economic dynamics of the region.

The C16QS is set to power IoT adoption across various sectors in Turkey, including e-mobility, POS systems, electric charging stations, Telematics Control Units (TCU), asset tracking, and much more. Enhancing this module’s capabilities, the Hubble Stack Intelligence, a key component of the Cavli Hubble connectivity & modem management platform, offers advanced remote diagnosis, monitoring, and debugging through the Hubble Lens feature. This innovation not only streamlines IoT deployment by eliminating the need for physical intervention but also scales IoT solutions in the most seamless manner. Furthermore, Cavli’s strong network operator partnerships have bolstered its presence in the market, offering robust local LTE and LTE-M connectivity solutions that are redefining industry standards in terms of service quality and pricing.

“The introduction of the C16QS cellular IoT module in Turkey is a pivotal moment for Cavli Wireless,” stated John Mathew, Chief Executive Officer, Cavli Wireless. “The C16QS stands out in the market for its exceptional balance of price efficiency and advanced connectivity features, making it an ideal choice for Turkish product makers looking to leverage Cat 1.bis based smart connectivity solutions. The launch of the C16QS is poised to be a key driver in cellular IoT adoption in Turkey, perfectly aligning with our vision of democratizing IoT by providing high-performance, seamless connectivity solutions tailored to the demanding needs of the Turkish region.”

Istanbul, Ankara, and Izmir have thriving engineering ecosystems, with numerous universities, research institutions, and companies focused on manufacturing and engineering. This strong foundation in engineering has contributed to the rapid growth of the IoT industry in Turkey, with the market value jumping from a few hundred million dollars to $9.55 billion in recent years. The advancement of these engineering hubs is expected to further propel IoT industry growth, potentially reaching $18.2 billion by 2027, driven by factors like smart city solutions, Industry 4.0 adoption, and government digital economy efforts.

Cavli partners with a Turkish mobility specialist to enhance mobility-as-a-service through micro-mobility charging solutions, utilizing integrated smart modules and a cloud platform to ensure reliable networks that transform city infrastructure into smart charging networks for micro-mobility vehicles. The engineering expertise concentrated in these cities continues to drive Turkey’s leadership in IoT and digital transformation.

As a pioneer in cellular IoT, Cavli Wireless takes pride in supporting the digital transformation of Turkish companies across industries. The company is grateful for the opportunity to collaborate with partners and customers in Turkey, providing seamless and affordable smart connectivity through optimized cellular IoT solutions tailored for the region. Cavli is dedicated to fostering the continued growth of Turkey’s thriving engineering ecosystems and rapidly expanding IoT sector. The company aims to build enduring relationships and play an integral role in advancing Turkey’s leadership in engineering. By leveraging the cellular IoT expertise to meet the connectivity needs of the Turkish market, Cavli Wireless looks forward to realizing the full potential of IoT innovation to drive progress that improves lives nationwide.

The post Cavli Wireless Unveils the C16QS: Redefining Smart Connectivity with the New Ultra-Low Cost Cat 1.bis Module appeared first on IoT Business News.

By Marc Kavinsky, Lead Editor at IoT Business News.

As the Internet of Things (IoT) continues to expand, interoperability within IoT ecosystems has emerged as a critical issue. With an ever-growing number of IoT devices and platforms, ensuring these systems can effectively communicate and work together is paramount. This article delves into the challenges of interoperability in IoT ecosystems and discusses strategies to overcome these hurdles, ensuring seamless integration and functionality.

Understanding Interoperability in IoT

IoT ecosystems are rapidly evolving, encompassing a wide array of devices from home appliances to industrial sensors. As of 2023, the number of connected IoT devices globally is in the billions, a number that is expected to grow exponentially. This growth, while promising, introduces complexity and challenges in maintaining interoperability among diverse systems.

Interoperability in IoT refers to the ability of different IoT systems and devices to communicate, exchange, and interpret shared data with one another, regardless of the manufacturer, model, or operating system. This is vital for creating efficient, scalable, and sustainable IoT ecosystems.

Challenges in Achieving Interoperability

Diverse Hardware and Standards: IoT devices are produced by numerous manufacturers with different hardware configurations and standards, making interoperability a significant challenge.

Varied Communication Protocols: IoT devices use a range of communication protocols (like Wi-Fi, Bluetooth, Zigbee, and others), which often lack uniformity, further complicating interoperability.

Data Format and Semantic Differences: Even when devices can connect, differences in data formats and semantics can hinder effective communication and data exchange.

Security Concerns: Ensuring secure data exchange between devices while maintaining interoperability is a complex challenge, given the varying security protocols and standards.

Strategies for Ensuring Interoperability

Adopting Universal Standards and Protocols: Developing and adopting universal standards and protocols is crucial. This includes efforts by organizations like the IEEE, IETF, and ISO to create and promote widely accepted standards.

Open Platforms and APIs: Encouraging the use of open platforms and Application Programming Interfaces (APIs) allows different devices and systems to communicate more seamlessly.

Modular Design and Frameworks: Implementing modular designs in IoT devices can facilitate interoperability, as it allows for easier integration of components from different manufacturers.

Common Data Models and Semantic Frameworks: Establishing common data models and semantic frameworks ensures that data exchanged between devices is understood consistently across different systems.

The Role of Industry Consortia

Industry consortia play a significant role in driving interoperability in IoT. Organizations like the Open Connectivity Foundation (OCF), the Industrial Internet Consortium (IIC), and the Zigbee Alliance work towards creating unified standards and certification programs for IoT devices and systems.

Government and Regulatory Bodies

Government and regulatory bodies are increasingly involved in setting guidelines and regulations to promote interoperability in IoT. This includes setting compliance standards for security and data privacy, as well as encouraging the adoption of universal standards.

The Importance of Testing and Certification

Testing and certification are crucial for ensuring interoperability. This involves rigorous testing of IoT devices and systems to ensure they can operate seamlessly across different ecosystems and comply with established standards.

Case Studies: Success Stories of Interoperability

Several industries have successfully implemented interoperable IoT ecosystems:

Smart Home Technology: Companies like Apple, Google, and Amazon are working towards interoperable smart home ecosystems, allowing different smart home devices to communicate regardless of the brand.

Healthcare: Interoperable IoT systems in healthcare have enabled better data sharing across various medical devices, improving patient care and operational efficiency.

Manufacturing: In the manufacturing sector, interoperable IoT systems have streamlined production processes, allowing different machines and sensors to work in unison.

Future Trends and Developments

Looking ahead, the trend is towards increased standardization and interoperability in IoT. This includes the development of more sophisticated AI and machine learning algorithms to manage and facilitate interoperability across complex IoT ecosystems.

Conclusion

Interoperability remains a key challenge in the expanding world of IoT. However, through collaborative efforts, the adoption of universal standards, and the implementation of robust testing and certification processes, significant strides are being made. As we advance, the focus on interoperability will continue to grow, playing a critical role in the success and sustainability of IoT ecosystems.

The post Interoperability in IoT Ecosystems: Navigating Challenges and Strategies appeared first on IoT Business News.

Billionaire Charlie Munger, who was the investing sage who made a fortune on his own before he became Warren Buffett’s right-hand man at Berkshire Hathaway, died Tuesday at 99.

In addition to being Berkshire vice chairman, Munger was a real estate attorney, chairman and publisher of the Daily Journal Corp., a member of the Costco board, a philanthropist and an architect.

In early 2023, his fortune was estimated at $2.3 billion — a jaw-dropping amount for many people but vastly smaller than Buffett’s unfathomable fortune, which is estimated at more than $100 billion.

During Berkshire’s 2021 annual shareholder meeting, the then-97-year-old Munger apparently inadvertently revealed a well-guarded secret: that Vice Chairman Greg Abel “will keep the culture” after the Buffett era.

Munger, who wore thick glasses, had lost his left eye after complications from cataract surgery in 1980.

Munger was chairman and CEO of Wesco Financial from 1984 to 2011, when Buffett’s Berkshire purchased the remaining shares of the Pasadena, California-based insurance and investment company it did not own.

Buffett credited Munger with broadening his investment strategy from favoring troubled companies at low prices in hopes of getting a profit to focusing on higher-quality but underpriced companies.

An early example of the shift was illustrated in 1972 by Munger’s ability to persuade Buffett to sign off on Berkshire’s purchase of See’s Candies for $25 million even though the California candy maker had annual pretax earnings of only about $4 million. It has since produced more than $2 billion in sales for Berkshire.

“He weaned me away from the idea of buying very so-so companies at very cheap prices, knowing that there was some small profit in it, and looking for some really wonderful businesses that we could buy in fair prices,” Buffett told CNBC in May 2016.

Or as Munger put it at the 1998 Berkshire shareholder meeting: “It’s not that much fun to buy a business where you really hope this sucker liquidates before it goes broke.”

Munger was often the straight man to Buffett’s jovial commentaries. “I have nothing to add,” he would say after one of Buffett’s loquacious responses to questions at Berkshire annual meetings in Omaha, Nebraska. But like his friend and colleague, Munger was a font of wisdom in investing, and in life. And like one of his heroes, Benjamin Franklin, Munger’s insight didn’t lack humor.

“I have a friend who says the first rule of fishing is to fish where the fish are. The second rule of fishing is to never forget the first rule. We’ve gotten good at fishing where the fish are,” the then-93-year-old Munger told the thousands of people at Berkshire’s 2017 meeting.

He believed in what he called the “lollapalooza effect,” in which a confluence of factors merged to drive investment psychology.

Charles Thomas Munger was born in Omaha on Jan. 1, 1924. His father, Alfred, was a lawyer, and his mother, Florence “Toody,” was from an affluent family. Like Warren, Munger worked at Buffett’s grandfather’s grocery store as a youth, but the two future joined-at-the-hip partners didn’t meet until years later.

At 17, Munger left Omaha for the University of Michigan. Two years later, in 1943, he enlisted in the Army Air Corps, according to Janet Lowe’s 2003 biography “Damn Right!”

The military sent him to the California Institute of Technology in Pasadena to study meteorology. In California, he fell in love with his sister’s roommate at Scripps College, Nancy Huggins, and married her in 1945. Although he never completed his undergraduate degree, Munger graduated magna cum laude from Harvard Law School in 1948, and the couple moved back to California, where he practiced real estate law. He founded the law firm Munger, Tolles & Olson in 1962 and focused on managing investments at the hedge fund Wheeler, Munger & Co., which he also founded that year.

“I’m proud of being an Omaha boy,” Munger said in a 2017 interview with Dean Scott Derue of the Michigan Ross Business School. “I sometimes use the old saying, ‘They got the boy out of Omaha but they never got Omaha out of the boy.’ All those old-fashioned values — family comes first; be in a position so that you can help others when troubles come; prudent, sensible; moral duty to be reasonable [is] more important than anything else — more important than being rich, more important than being important — an absolute moral duty.”

In California, he partnered with Franklin Otis Booth, a member of the founding family of the Los Angeles Times, in real estate. One of their early developments turned out to be a lucrative condo project on Booth’s grandfather’s property in Pasadena. (Booth, who died in 2008, had been introduced to Buffett by Munger in 1963 and became one of Berkshire’s largest investors.)

“I had five real estate projects,” Munger told Derue. “I did both side by side for a few years, and in a very few years, I had $3 million — $4 million.”

Munger closed the hedge fund in 1975. Three years later, he became vice chairman of Berkshire Hathaway.

In 1959, at age 35, Munger returned to Omaha to close his late father’s legal practice. That’s when he was introduced to the then-29-year-old Buffett by one of Buffett’s investor clients. The two hit it off and stayed in contact despite living half a continent away from each other.

“We think so much alike that it’s spooky,” Buffett recalled in an interview with the Omaha World-Herald in 1977. “He’s as smart and as high-grade a guy as I’ve ever run into.”

“We never had an argument in the entire time we’ve known each other, which is almost 60 years now,” Buffett told CNBC’s Becky Quick in 2018. “Charlie has given me the ultimate gift that a person can give to somebody else. He’s made me a better person than I would have otherwise been. … He’s given me a lot of good advice over time. … I’ve lived a better life because of Charlie.”

The melding of the minds focused on value investing, in which stocks are picked because their price appears to be undervalued based on the company’s long-term fundamentals.

“All intelligent investing is value investing — acquiring more than you are paying for,” Munger once said. “You must value the business in order to value the stock.”

But during the coronavirus outbreak in early 2020, when Berkshire suffered a massive $50 billion loss in the first quarter, Munger and Buffett were more conservative than there were during the Great Recession, when they invested in U.S. airlines and financials like Bank of America and Goldman Sachs hit hard by that downturn.

“Well, I would say basically we’re like the captain of a ship when the worst typhoon that’s ever happened comes,” Munger told The Wall Street Journal in April 2020. “We just want to get through the typhoon, and we’d rather come out of it with a whole lot of liquidity. We’re not playing, ‘Oh goody, goody, everything’s going to hell, let’s plunge 100% of the reserves’ [into buying businesses].” 

Munger donated hundreds of millions of dollars to educational institutions, including the University of Michigan, Stanford University and Harvard Law School, often with the stipulation that the school accept his building designs, even though he was not formally trained as an architect.

At Los Angeles’ Harvard-Westlake prep school, where Munger had been a board member for decades, he ensured that the girls bathrooms were larger than the boys room during the construction of the science center in the 1990s.

“Any time you go to a football game or a function there’s a huge line outside the women’s bathroom. Who doesn’t know that they pee in a different way than the men?” Munger told The Wall Street Journal in 2019. “What kind of idiot would make the men’s bathroom and the women’s bathroom the same size? The answer is, a normal architect!”

Munger and his wife had three children, daughters Wendy and Molly, and son Teddy, who died of leukemia at age 9. The Mungers divorced in 1953.

Two years later, he married Nancy Barry, whom he met on a blind date at a chicken dinner restaurant. The couple had four children, Charles Jr., Emilie, Barry and Philip. He also was the stepfather to her two other sons, William Harold Borthwick and David Borthwick. The Mungers, who were married 54 years until her death in 2010, contributed $43.5 million to Stanford University to help build the Munger Graduate Residence, which houses 600 law and graduate students.

Asked by CNBC’s Quick in a February 2019 “Squawk Box” interview about the secret to a long and happy life, Munger said the answer “is easy, because it’s so simple.”

“You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles. You deal with reliable people and you do what you’re supposed to do. And all these simple rules work so well to make your life better. And they’re so trite,” he said.

“And staying cheerful … because it’s a wise thing to do. Is that so hard? And can you be cheerful when you’re absolutely mired in deep hatred and resentment? Of course you can’t. So why would you take it on?”

This post appeared first on NBC NEWS
Generated by Feedzy