Nav Dhunay, “Internet of Things is Making Companies Greener”

For the last couple years the Internet of Things, or IoT for short, has been making tech headlines as the new bastion of innovation. The Internet of Things is the interconnection of electronic devices with one another for the purpose of sharing data. Devices like a Bluetooth headset or wireless headphones use the IoT to connect with devices and share information about an incoming call or what song to play next. It is estimated that by 2020 there will be more than 26 billion connected devices on the planet, making IoT technology big business. http://www.forbes.com/sites/jacobmorgan/2014/05/13/simple-explanation-internet-things-that-anyone-can-understand/

Last year, Wired hailed it as the next big thing and described how the IoT has the potential to benefit society: “The Internet of Things revolves around increased machine-to-machine communication; it’s built on cloud computing and networks of data-gathering sensors; it’s mobile, virtual, and instantaneous connection; and it’s going to make everything in our lives from streetlights to seaports ‘smart.’” http://www.wired.com/insights/2014/11/the-internet-of-things-bigger/

In August 2014, Samsung began to heavily invest in IoT capabilities and purchased Smart Things, a company which connects devices through an open system. This year, Samsung vowed to make every item it manufactures, from washing machines to smartphones, “IoT-ready” and connected to the internet within the next five years. Samsung’s chief executive BK Yoon promised more than $100 million in funding for developers to create an open system and “kickstart an IoT revolution”. http://www.huffingtonpost.co.uk/jana-bakunina/internet-of-things_b_8115076.html

Apple, Google, and Amazon have all launched IoT strategy plans in the last year. Apple and Google introduced smart home services that allow for the interconnection of multiple home devices. Amazon launched a service that is basically a virtual butler, the app or button will allow you to order household items through IoT devices.

The possibilities for IoT compatible devices and technologies are endless, which is why this year revenue forecasts for the IoT industry are more than two trillion dollars. The environmental applications that are utilizing IoT are especially exciting because they are using the latest innovations to help lessen the environmental impact of society. http://www.bloomberg.com/news/articles/2015-09-10/ericsson-seeks-new-patent-revenue-in-internet-of-things-push

With worldwide goals of reducing, improving and monitoring our global energy consumption, innovators are finding ways of incorporating IoT technologies to enhance functionality and operations.  In cities, for example, Internet of Things technology can improve efficiency and the quality of life for citizens. Air-quality sensors can communicate which parts of the city have ozone alerts, which would be useful to people who have workers outside or useful to bike commuters. Streetlights can be equipped with light sensors that can be monitored in case of repair or programmed to turn on and off at different times depending on the season. New York City officials even implemented water monitors to the city’s water supply and caught a restaurant dumping illegal materials in the drain. http://www.greenbiz.com/blog/2014/05/12/greenbiz-101-what-do-you-need-know-about-internet-things

Nav Dhunay (https://plus.google.com/+NavDhunay/posts), a Calgary-based tech entrepreneur and the CEO and President of Ambyint (https://twitter.com/ndhunay?lang=en), doesn’t need to be convinced of the merits of IoT based technologies. His second start-up venture, NavNet, introduced  IoT technology that pioneered the home automation technologies that major tech companies are now introducing. Nav Dhunay’s latest startup, Ambyint, merges IoT technology and the oil industry to boost efficiency and output.

“We bring big data analytics to oil and gas as a way to create an entirely new level of intelligence for gas and oil producers,” Nav Dhunay said.

We are only beginning to scratch the surface of what IoT is capable of Dhunay explains. “There is so much potential for great innovation,” added Nav Dhunay. “IoT is making companies greener and improving city infrastructure. There really are no limits to the technology’s potential.”

The overall IoT industry revenue is estimated to reach 4.59 trillion dollars before 2018 and some analysts believe that is a modest approximation, especially if companies like Apple decide to focus more intently on their already burgeoning IoT sector. As more companies and innovators introduce IoT devices and programs, the world will be connected in ways that have never been seen before. http://www.bloomberg.com/news/articles/2015-09-10/ericsson-seeks-new-patent-revenue-in-internet-of-things-push

“We are standing on the cusp of a thrilling time for invention,” commented Nav Dhunay. “It is a really exciting time to be an innovator.”