Britain’s best unknown tech business ARM Holdings is being bought by Japan’s SoftBank on the back of the promise of the Internet of Things (IoT). But what is IoT, and what has a chip designer like ARM got to do with it?
The idea behind IoT is to create a home where everything is connected to the internet, creating “swarm intelligence” from individually dumb devices. Bins, toasters, washing machines and lights will be able to talk to each other for automatic, more efficient control and monitoring.
But IoT also describes the use of sensors and smart devices in the wider environment to automate processes and give information to human operators, such as roads that alert drivers to spots of black ice or recycling bins that tell the council when to pick them up.