  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.
