Increasingly, smart computing devices, with powerful sensors and internet connectivity, are being embedded into all new forms of infrastructure, from hospitals to roads to factories. These devices are part of the Internet of Things (IoT) and the economic value of their widespread deployment is estimated to be trillions of dollars, with billions of devices deployed. Consider the example of smart meters for electricity utilities. Because of clear economic benefits, including a reduction in the cost of reading meters, more precise information about outages and diagnostics, and increased benefits from predicting and balancing electric loads, such meters are already being rolled out across North America. With residential solar collection, smart meters allow individuals to sell power back to the grid providing economic incentives for conservation. Similarly, smart water meters allow water conservation in a drought. Such infrastructure upgrades are infrequent (with smart meters expected to be in service for 20-30 years) but the benefits from the upgrade justify the significant cost. A long-term benefit of such upgrades is that unforeseen savings might be realized in the future when new analytic techniques are applied to the data that is collected. The same benefits accrue to any infrastructure that embeds increased sensing and actuation capabilities via IoT devices, including roads and traffic control, energy and water management in buildings, and public health monitoring.
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