What Does IoT-A do? Why is it important?

I spent a some time watching a few videos on YouTube discussing IoT-A and from my understanding IoT-A is a way for multiple devices, applications, and technologies to "talk" to each other using a common language. Data is gathered into common applications called "silo applications". These common "silos" then communicate with other silos with different data to present an entire picture of a situation. One of the videos I watched used a traffic accident as an example. The car had struck a person and the person was in need of medical care. Data gathered from the car's collision and the man's watch sent out signals to let emergency responders know what was going, who was involved and potential damage. Upon arriving on scene, the emergency responders were able to use smart devices to collect data from what they had seen, information on the patient through his smart watch (I'm assuming, age, pre-diagnosed illnesses, allergies to medications, and standard vitals - normal heart rate, bp, etc. is what it gathered) to help provide the care the patient needed. GPSs were able to find the quickest route to the hospital while at the same time relaying information gathered from the EMTs to the medical staff. Saving precious time and allowing all parties to stay in the loop with each other. That's essentially the basics of what happened. Why is it important? As you can see from the above example, using this kind of technology will help people in critical need of medical assistance, get the help they need faster, determine diagnoses and provide information that is critical to the person's health and potentially lower the risk of fatality. If you're curious about the short 4 minute video I described. Here it is:

https://youtu.be/EcWhxb77Gug