The Economic Potential of The Internet of Thing

Irving Wladawsky-Berger, Jul 17, 2015
Commentary by Stephen Downes

Article identifying 9 distinct 'settings' where we'll find the internet of things (IoT). Settings are "the physical environments in which these various systems and applications are deployed." Examples of the settings include:

  • Human - Monitor and promote improved health, wellness, fitness, and productivity using personal wearable devices and appliances
  • Home - Energy management, security, safety, and automation of home chores
  • Retail Spaces - Automated checkout, layout optimization, customer care, real-time personalized promotions

According to the article, "McKinsey estimates that the total economic impact of the applications it sized in these 9 IoT settings is $4 trillion to $11 trillion per year by 2025."

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