Internet of Things, or as the new IoT abbreviation is starting to take precedence, is sweeping the business world. It is all around us – from CES technology shows to business columns, but what is IoT? And more importantly how will the Internet of Things affect small business? Before I get into the influences, it would be beneficial to outline the definition of IoT, and according to Wikipedia this is what defines IoT:
the interconnection of uniquely identifiable embedded computing devices within the existing Internet infrastructure. Typically, IoT is expected to offer advanced connectivity of devices, systems, and services that goes beyond machine-to-machine communications (M2M) and covers a variety of protocols, domains, and applications. The interconnection of these embedded devices (including smart objects), is expected to usher in automation in nearly all fields, while also enabling advanced applications like a Smart Grid.