1: Write a 1 page paper on the API Economy. Why is the IT industry excited by it and what types of companies are basing their business around API's. What is the future of API's as it relates to other technologies you have learned about in class?
2: Write a 1 page paper on IoT. What is it and what types of opportunities does this technology offer the workplace? What about society?
API Economy: (API) Application programming interface economy is a phrase that portrays the way or method in which API’s can positively and emphatically affect an associations profitability as well as productivity.
API Economy in IT industry: API’s can broaden the range of IT association’s core resources, permitting organizations to be reused, resold or shared, as an innovative income stream. Applications, as well as their fundamental information, are long-established cornerstones of various IT organizations. However, the API economy becomes the territory of inner Information Technology departments (Holley, 2015).
Organizations basing business around the API's: API economy is the arrangement of programming guidelines as well as measures that permit one bit of programming to request that another play out the service. If anyone purchased a live overhauled or updated Amazon items using any outside website, as well as viewed the Google Map embedded into the “discover us” part of the website, then they use API economy. Additionally, if a website is used to purchase an online movie ticket, that such websites surely utilized the API economy to affirm the purchaser payment details through the remote application. Therefore, such kind of companies uses API economies like Uber taxis and many IT industries basing their organization business around the API economy.
API's Future: Today’s clients are requesting a more customized service that is incorporated in their ways of life this is interpreted toward the conveyance of cutting-edge services, for instance, taxi services as well as the banking and additionally for the payment industry. Therefore, in the future need for the API economy is increased (Lane & Watters, 2011).
IoT: IoT is turning into an increasingly developing topic of discussion, both in the working environment as well as outside of the workplace. IoT is a concept which does not just have the potential to affect how people live, but additionally how people work (Uckelmann, Harrison, & Michahelles, 2011).
Services IoT provide at place of work and its effect on society: IoT is like a data machine which means that organizations will need to re-examine how they gather as well as examine data that not only decision-makers want to learn as well as adapt another type of information intelligence, yet the type and amount of data delivered by “Internet of things” will likewise introduce innovative or extended parts for information investigators, strategists, as well as significantly client service." Internet of Things possibly makes the working environment life as well as business procedures much more gainful and effective. As per a rising agreement and virtually each walk of society life and industry segment of society will be changed by the Internet of things, including SCM, manufacturing, wellness and health sector of society, transportation, household living as well agriculture (Weber & Weber, 2010).
Holley, K. (2015). Power of the api economy. [Place of publication not identified]: Ibm Press.
Lane, K. & Watters, A. (2011). Business of APIs. [United States: CreateSpace].
Uckelmann, D., Harrison, M., & Michahelles, F. (2011). Architecting the internet of things. Berlin: Springer.
Weber, R. & Weber, R. (2010). Internet of things. Berlin: Springer.