The Internet of Things – or IoT for short – is a commonly used phrase in tech circles, and is beginning to make inroads into the public consciousness, too. In essence, it involves connecting many more devices to the internet, giving them the ability to communicate with each other.

In the phrase ‘IoT’, ‘things’ refers to any appliance or device that is able to transmit or receive information digitally. This would involve a significant expansion of the current situation. The majority of online devices are specifically designed for communication, such as laptops and smartphones.

Consumers are becoming more familiar with the concept of the 'smart home' which features security systems (for example) connected to the internet. This allows for remote monitoring. It also enables homeowners to control the home environment (lights, heating etc.) from any location.

Future residential applications could include fridges that can compile and send grocery orders to e-commerce sites, and washing machines that are able to assess and apply clothing care recommendations scanned from smart materials.

The Internet of Things has the potential to relieve people of many day-to-day decisions, making their lives more convenient. In industrial applications, remote sensors can replace the need for humans to visit hard-to-reach or hazardous locations.

Like all the best technological innovations, IoT offers potential time and money savings. Automation of routine or mundane tasks will free human operators to focus on tasks where devices cannot yet complete, such as strategic thinking and customer service. In a domestic context, it should mean more free time for people thanks to shorter 'to-do' lists.

The susceptibility of connected devices to being hacked must be set against these potential benefits. This could have serious security and safety implications. There are also potential data security and privacy issues at stake. The mass roll-out of IoT technology will make the internet vastly more complex. The main reason for this is because there is no universal standard in force. Network capacity will have to be greatly increased to avoid contention and slower connections.

Recent events such as the hacking of the Colonial Pipeline in the USA have demonstrated that criminals can exploit weaknesses in IoT systems to cause disruption and economic losses on a large and widespread scale.

As with all connectivity technologies, there is a trade-off to be made between savings of all kinds, and the risk of system disruption, malfunction or criminal abuse, all of which could lead to the exact opposite of the intended benefits.