{"id":4228,"date":"2018-12-07T06:18:54","date_gmt":"2018-12-07T11:18:54","guid":{"rendered":"http:\/\/flevy.com\/blog\/?p=4228"},"modified":"2020-12-21T20:24:15","modified_gmt":"2020-12-22T01:24:15","slug":"taking-the-position-of-advantage-in-the-internet-of-things-iot-its-opportunities-and-challenges","status":"publish","type":"post","link":"https:\/\/flevy.com\/blog\/taking-the-position-of-advantage-in-the-internet-of-things-iot-its-opportunities-and-challenges\/","title":{"rendered":"Taking the Position of Advantage in the Internet of Things (IoT) \u2013 Its Opportunities and Challenges"},"content":{"rendered":"

With the advent of the Internet of Things (IoT)<\/a>, competition has become a different ball game. IoT\"\" will soon become a differentiating factor in competition.\u00a0 In fact, IoT is one of the driving emerging technologies behind the Fourth Industrial Revolution<\/a>.<\/p>\n

Senior Leaders and Board Members are now required to take a systems approach. This system approach will address the organizational challenges and risks the expansion of the digital domain will create.<\/p>\n

By doing this, it will allow companies to capture the full range of benefits promised by the Internet of Things.<\/p>\n

This article discusses the key Opportunities and Challenges to the Internet of Things<\/a>.<\/p>\n

Understanding the Internet of Things (IoT)<\/h2>\n

Internet of Things (IoT) has gained popular attention during the past 5 years. In fact, the rate of adoption is fast accelerating.<\/p>\n

The Internet of Things is simply the point in time when more things or objects are connected to the internet than people. It is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect, collect, and exchange data.<\/p>\n

IoT involves extending internet connectivity beyond standard devices. Embedded with technology, these devices can communicate and interact over the internet. In fact, they can be remotely monitored and controlled.<\/p>\n

The 3 Key Opportunities that IoT beckons<\/h2>\n

IoT\u2019s impact is already extending beyond its early, most visible application. A much greater potential remains to be tapped as key opportunities beckon<\/p>\n