Important Technologies and Applications of Power Internet

18 January 2023

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The theory and technology of power system information communication represented by power physical information systems and Power Internet of Things have attracted widespread attention. However, the power grid has its unique requirements and application conditions, such as the strict delay and reliability requirement on communication, rapid response to faults of the power grid, interaction between users and power system, etc. These features are very different from traditional computer networks and the Internet of Things and therefore lead to many challenges in the design and implementation of the Power Internet of Things.

The Power Internet of Things is a smart service system that fully utilizes modern information technology, advanced communication technologies, and artificial intelligence to realize human-computer interaction, comprehensive status perception, efficient information processing, and flexible applications.

In fact, McKinsey recently estimated that IoT could enable 5.5 trillion to 12.6 trillion US Dollar in value globally by 2030, including the value captured by consumers

The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

The Internet of Things (IoT) describes the network of physical objects—“things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet. These devices range from ordinary household objects to sophisticated industrial tools. With more than 7 billion connected IoT devices today, experts are expecting this number to grow to 10 billion by 2020 and 22 billion by 2025. Oracle has a network of pinup partners.

The importance of trust is not only emphasized in the consumption process of branded products but also discussed by various researchers; research examining the importance of trust in online shopping continues to increase. Buttner and Goritz (2008) discuss that trustworthiness promotes both intention to buy and actual financial risk for medical goods.

Online shopping is somewhat different from ordinary shopping because consumers must decide to purchase products by only seeing them, they are not able to touch them. In addition, sometimes online shops and consumers transact with one another with a time lag, thus if consumers have questions or are anxious about something during online shopping they are not able to get the online shop’s support.

Furthermore, once the consumer despairs in the online shop or the online shop’s support, it is likely to escape from that relationship and move to another online shopping website. This results in difficulty in developing a close and continuous relationship between an online shop and its consumers.

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