According to researchers at the Lemelsen Centre at the Massachusetts Institute of Technology, Radio Frequency Ident...
February 8, 2005
According to researchers at the Lemelsen Centre at the Massachusetts Institute of Technology, Radio Frequency Identification (RFID) is the tenth most innovative technology of the past 25 years.
The Internet, cell phones, personal computers, fiber optics, e-mail and digital cameras were also named in the list.
RFID technology is built on a microchip that contains data that can be transmitted automatically over radio waves, thereby eliminating line-of-sight constraints and making it possible to track individual items without costly manual scanning.
The tags are then placed on items ranging from consumer goods, shipping containers and high-value equipment in order that their movements and locations can be easily tracked.
Retailers expect billions of dollars in saving by being able to track goods, reduce theft and improve the availability of merchandise to consumers.
“RFID is one of those disruptive technologies that comes along every once in a while and changes the way we live and work,” said Jon Karlen, director of product marketing at OATSystems, a RFID software company based in Waltham, Mass.
“(It) opens up a range of possible applications to make life and business more efficient."
Industry analysts expect the RFID market to be worth US$2 billion worldwide by 2008.