The Internet of Things (IoT) in a Post-Pandemic World
81 Pages Posted: 30 Jun 2022 Last revised: 18 Jul 2022
Date Written: July 16, 2022
Internet of Things (IoT) devices allow people to live smarter, safer and more productive lives, enabled in many cases by ‘smart systems’ in such key areas as health care, education, community ‘smart city’ living ― and provide advances in productivity to help reduce global food insecurity and adverse developments brought about by climate change. The daily life of billions of individuals worldwide has been forever changed by IoT technology in just the last few years.
By mid-2022 the world remains mired in its third year of dealing with a highly infectious pandemic; Russia is engaged in an invasion of Ukraine; food insecurity is rapidly increasing; the World Bank and others warn of likely future economic distress; adverse destructive weather events continue as disruptive climate change continues; and the United States is in the midst of a Constitutional crisis brought about by former President Donald Trump’s attempt to overthrow results from the 2020 election. Against this backdrop Internet usage and penetration continues to grow, as does the number of devices connected to the Internet.
IoT devices have offered functionality improvements and productivity gains. Our paper has described IoT technology, its rapid development, and documented the role played during the COVID-19 pandemic and subsequently. We have shown how IoT technology provides solutions to many of the world’s most difficult problems by enhancing agricultural yields, assisting with climate issues, healthcare and pandemic needs, smart cities administration, supply chain management, water conservation, and worker safety. Developments in blockchain technology has enhanced and expanded sensor utilization. However, issues of data systems security threats, ransomware, and optimal regulation remain as challenges. We believe our research has contributed to the understanding of this important technology.
Keywords: agriculture; blockchain; climate change; corporate governance; crisis management; cross-device Tracking; COVID-19; cybersecurity standard of care; data breach; distributed control systems (DCS); food insecurity; FTC; healthcare; industrial control systems (ICS); Internet of Things (IoT)
JEL Classification: K10, K13, K14, K22, K33, O31, O32, O33, O34, K00, M38, L86, L88, L5
Suggested Citation: Suggested Citation