Every reward has its risks. This article outlines where the opportunities are in smart home technology, along with the parallel risks, focusing on providing intelligence around home security and health and wellness.

The role of technology in the home has changed drastically in recent years. We've come a long way from the kitchen wall phone and desktop computer, in an era when smartphones, tablets and wearables dominate the scene. The newest wave comes from the internet of things (IoT), and today's offerings are raising the bar on what makes a device "smart."

Increasingly, "smart" means safe, in terms of security and health. Joe Colistra, architect at the Center for Design Research at the University of Kansas, was recently profiled in The Atlantic on his vision for a smart home that safeguards occupants' well-being. Such updates include motion-sensing walls and force-detecting floors that notice walking problems in senior citizens. Another update: "smart toilets" that analyze biochemistry and report to doctors on the user's health.

With technology redefining home life in these ways, now seems like a ripe time for entrepreneurs to get in on the action. But, with the new terrain comes unforeseen pitfalls, so those looking to make that leap would do well to watch where they land.

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