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Fintech: Digital Transformation of Financial Services Internet of Things (IOT)

Issue Abstract

Abstract 
        The Internet of Things (IOT) refers to the network of physical objects or "things" embedded with sensors, software, and other technologies. IoT allows for seamless communication and data sharing. The potential applications of IoT are vast, ranging from smart homes and cities to industrial automation, healthcare, agriculture, and more. The global IoT market was worth over $263 billion in 2021.Supply Chain Optimization: IoT devices can be utilized to monitor and track the condition of perishable goods during transportation, ensuring their quality and reducing wastage. Results in Increased Efficiency: By optimizing irrigation and resource usage, smart agriculture can lead to higher crop yields and reduced operational costs. Resource Conservation: Precise irrigation and nutrient management prevent wasteful use of water and fertilizers, promoting sustainable farming practices. Enhanced Monitoring: Early detection of issues allows farmers to take proactive measures, preventing crop losses and increasing overall farm productivity. Data-Driven Decision Making: Access to real-time data and predictive analytics empowers farmers to make smarter decisions, improving the overall performance of their operations. In conclusion, this case study demonstrates how IoT can revolutionize agriculture, making it more productive, sustainable, and economically viable. By harnessing the power of IoT, farmers can move towards a more data-driven approach, leading to a significant transformation in the agricultural industry. The Internet of Things (IoT) is a transformative technology that connects various devices and objects to the internet, enabling them to collect and exchange data. It has the potential to revolutionize multiple industries, enhance efficiency, and improve our daily lives. However, its widespread adoption also raises concerns about privacy, security, and data management. As IoT continues to evolve, it will be crucial to address these challenges and create a more secure and sustainable IoT ecosystem to fully realize its benefits.


Author Information
Dejashree R
Issue No
9
Volume No
2
Issue Publish Date
05 Sep 2023
Issue Pages
170-176

Issue References

References

  1.  https://101blockchains.com/top-iiot-case-studies/ https://www.techtarget.com/iotagenda/definition/Internet-of-Things-IOT https://www.ibm.com/topics/internet-of-things

  2. https://www.cropin.com/iot-in- agriculture#:~:text=IOT%20smart%20agriculture%20products%20are,from%20anywhere%20wi thout%20any%20hassle

  3. https://easternpeak.com/blog/iot-in-agriculture-technology-use-cases-for-smart-farming-and- challenges-to-consider/