How the Internet of Things Will Transform Our Lives

Jordan Duffy is a serial entrepreneur, technology innovation expert and, at the age of 21, co-owns Buckham & Duffy, an innovation and rapid development firm with 18 employees. Jordan’s passion for technology and business started at home assembling computers, and his entrepreneurial journey started at age 14 with business partner Alex Buckham. Alex and Jordan have been growing businesses for eight years. Business aside, Jordan is an avid self-educator and driven change maker.

Duffy begins his speech by defining the Internet of Things (IoT), “Network of physical object that are connected to the internet allowing them to send, receive, and exchange data.”

Duffy goes on to describe the four levels that have to exist in order for the IoT to be created and become effective.

  1. Hardware: The IoT connects “things.” this means that those things must have some sort of physical presence and be connected to a hardware device.
  2. Data: This is the measurable output which will become valuable to us.
  3. Software: In order for the hardware to produce valuable data to us it must have a working software.
  4. Connectivity: This is where the internet part comes into play. All of this data and output of things isn’t useful unless it is connected to us.

Duffy explains that this is happening now because of the high availability of resources, low  cost, low level of difficulty, and high digital need. “This isn’t a technology that will change our lives in 10 years or 5 years but will change our lives, mostly in imperceivable ways, in the very near future” said, Duffy.

Duffy gives the example of Barcelona which has started to adopt the IoT technology. Said Duffy, “The Barcelona Smart City, over the last ten years, has made one of the most IoT integrated smart cities in the world. By placing sensors that tell people where parking sports are they’ve increased revenues for parking over $5 million dollars per year. They’ve decreased their energy cost by $37 million a year purely by having IoT in lights to tell them when they actually need to turn on and when people are there to use them. Their smart gardens saved them $58 million a year in water usage just by watering in the right places at the right time.”

To further explain that IoT technology is not a futuristic technology but the technology of today, Duffy explains that his house is already utilizing the IoT by connecting him to his lights, thermostat, refrigerator, and coffee maker.

This talk was given at a TEDx event using the TED conference format but independently organized by a local community.