The Internet of Things (IoT) is a network of tangible items - from vehicles to refrigerators - that allows these things to collect and exchange data. Up until now, the IoT is very minimally seen in everyday life, with autonomous cars probably being the biggest example. However, the promise of IoT lands on a much larger scale and a South Korean tech giant is ready to take the lead.
Samsung will be investing as much as $1.2 billion in the United States in the course of 4 years, as reported by Engadget. The investment will be used to develop technology that is targeted at enhancing the the power of everyday devices and will be shared between Samsung's own company and different startups.
The company is already co-founding a "National IoT Strategy Dialogue," which aims to shape U.S. policies on always-online gadgets. Of course, Samsung is hoping that the guidelines will go in their favor, or that the guidelines will not "hold back" its interests.
As C|Net adds, the goal of Samsung with the Internet of things is far greater than just making the lives of individuals easier. The company knows that the technology can be used for the bigger picture as well.
In fact, Samsung's Vice Chairman, Oh-Hyun Kwon, spoke about this at an event in Washington, D.C. Kwon made an example of nursing homes. "Today, IoT is changing individual lives... Tomorrow, using IoT, we can give the same independence to millions of Americans. We can keep people out of hospitals and nursing homes."
Kwon also discussed a few issues that the Information Technology Industry Council plans to address as IoT is further developed. These issues include privacy and security, internet infrastructure investment, leveraging public-private partnerships, letting innovation flourish, a global-wide set of standards and best practices, and enabling interoperability - the ability of a system to interact and work with another.
