Predicting Carbon Prices and Co2 emissions

Edward Davis, La Salle University


Internet of Things (IoT) are Internet connected devices; consumer electronics embedded with the ability to interact and communicate via the Internet. Just as they can enhance people’s efficiency and improve people’s lifestyles, they can be remotely monitored and controlled. IoT devices can be synchronized, automated, and customized dependent on relevancy and consumers’ needs and wants. Hackers, spies, criminals, manufacturers and mere tech savvy people can often infiltrate IoT devices. Consumers and businesses are adopting multiple types of IoT devices. Industry experts believe IoT devices will surpass $1.7 trillion in annual revenue by the end of 2019. (iPriorityManagement, 2019). IoT Analytics, the leading provider of data analysis anticipates over 1.57 trillion IoT devices will be globally connected to the Internet by 2025. (Columbus, 2018). These devices are comprised of anything from smart fish tanks and smart washing machines, including already connected smart cars and smartphones. IoT enables digital intelligence, and astronomical possibilities for technological advancement. Manufacturers are increasing their spending on a large scale to incorporate digital intelligence; stakeholders have witnessed a 54% enterprise revenue driver resulting in cost savings. (Petrov, 2019).

IoT devices make daily routines less tedious, yet they additionally unveil a multitude of avenues leading to vulnerabilities, hacks and exposure. Devices are not always secure, especially when utilized by individuals who do not understand the security risk associated with the IoT device. The majority of IoT devices do not undergo proper quality assurance life cycle testing. Manufacturers are quick to expedite the process in order to release IoT devices to market, rendering IoT devices vulnerable to attacks. As IoT device intelligence progresses, cyber attackers become more astute. These devices expose governments, corporations and individuals to cyber-attacks, cyber terrorism and cyber espionage. (U.S. DoHS, 2016).