IIoT - The Fourth Industrial Revolution

IIoT – THE FOURTH INDUSTRIAL REVOLUTION AND THE ONSET OF UNFAMILIAR RISK EXPOSURES

By: Alex Johanek, Risk Consultant, AHT Insurance

Did someone say the Fourth Industrial Revolution? Yes, but let’s back up a bit to make sure we’re all on the same page.

THE INTERNET OF THINGS (IoT)

The Internet of Things (IoT), explained in short, is the ever-growing network of devices that are connected to the internet. It used to comprise electronics, such as computers, smartphones and tablets. However, as a society, we have recently been welcoming a much wider array of internetconnected devices into our day-to-day lives. From smart TVs, thermostats and security cameras to washing machines, fitness trackers and smartwatches, the list of internet-connected devices continues to grow at a rapid pace. This network is what people refer to as the IoT.

SO, WHAT IS THE INDUSTRIAL INTERNET OF THINGS (IIoT)?…