IBM announced to invest 3 billion US dollars to build an Internet of Things (IoT) unit

Apr 1, 2015 15:00 IST

IBM announced on 31 March 2015 to invest 3 billion US dollars to build an Internet of Things (IoT) unit over the next four years.

The purpose of the unit is to build industry-specific data services and developer tools and offer them over a Cloud-based open platform to its enterprise customers.

These services and tools will help the business clients to integrate data from the IoT and traditional sources and help them make business decisions in a better way.

The Cloud based services will also help manufacturers to design and produce a new generation of devices that are better suited for IoT.

Pat Toole will head the new unit as the General Manager.

About Internet of Things

IoT refers to a network of devices which are embedded with electronic sensors and data transmitting technologies and connected over the internet. By using the Internet the data collected by sensors in a device can be transmitted to other networked devices and systems. The technology goes beyond machine-to-machine communications (M2M) and covers a variety of protocols, domains, and applications.

So far Intel and Google among others entered into the IoT market space.

Intel released Galileo which is a single board computer in October2013.  The device is a low-power, small-core product and developed using the Intel Quark technology.  

Google bought the smart home company Nest for 3.2 US billion dollars in February 2014.

Amazon also announced its plans to enter the IoT segment on 31 March 2015 by introducing Dash Button on its devices.

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Read more Current Affairs on: Internet of Things , IBM , Intel , Google , Cloud Computing

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