7. The use of IoT technology to improve exploration and development in the oil and gas industry could result in one per cent savings in capital expenditure, says a GE report. Does not this sound exciting? Well, that one per cent is around $90 billion!
8. According to a news report in the Business Insider, residential waste volume went down by 17 per cent and recycling volume increased by 49 per cent through a ‘pay as you throw’ programme implemented in Cincinnati using IoT technology to monitor those who exceeded waste limits.
9. The McKinsey Global Institute forecasts that smart electricity grids that adjust rates for peak energy usage will represent savings of $200 billion to $500 billion per year by 2025.
The author is a technically-qualified freelance writer, editor and hands-on mom based in Chennai
