The Internet of Things (IoT) and the Smart Home

Homeowners have been early adopters of connected devices, utilizing IoT to improve property security and energy efficiency. Google saw this trend coming as early as 2014 when it purchased connected thermostat maker Nest for $3.2 billion. Nest’s devices collect data at the thermostat level and utilize artificial intelligence and IoT to learn how to best set the temperature in the home in a manner that coincides with the residents’ typical daily patterns. That is, Nest can learn to change settings when all family members have left for the day, say by 8:30 AM, and to alter settings in time for the kids to be home by 3:00 P.M. Meanwhile it communicates via Wi-Fi and IoT with software on central servers.

Nest includes motion detectors as well as sensors for temperature, humidity and light. The long-term game for the firm is to gather data about consumer power usage that will be of high value to electric utilities. Consumers at home can opt into special rebate programs if they allow Nest to reduce their power usage during times of peak utility loads.

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