Things are merging with the digital world
The physical essence of the Internet of Things (IoT) is billions of connected devices providing data – in many cases in real-time – and sending it back to businesses that can remotely and automatically control this physical infrastructure.
The magic quality of the IoT is the connected world it makes possible: a world that’s getting bigger as the technologies linking devices become smaller, cheaper and faster.
Much more than a technological transformation, the IoT is creating new types of businesses, centred around services and user experience. These will have a massive impact on the structure of our organizations and the way we work together. While these changes will only happen in small steps, they will come quickly and have a huge and lasting effect.
devices will be connected to the internet by 2020, the analyst firm Machina Research predicts.
Top IoT benefits at a glance
- Make lives of customers, citizens, or employees safer, easier and more comfortable
- Generate value through new business models and revenue streams
- Improve the way of running a business through streamlining and automating processes