By 2020, a projected 50 billion devices will be connected to the internet, storing and transmitting massive amounts of data in real-time. This is the “Internet of things”. From connected cars to smart thermostats, consumers and businesses alike are rushing into new technologies that improve the way in which they live and operate.
With businesses across all sectors seeking new ways to adopt technologies that improve efficiency, legislators and regulators continue to identify and grapple with public policy concerns. The benefits are real –a projected global worth of more than $6 trillion – but balancing privacy protections with restraints on innovation are less certain.
In the first video in a new series produced by CIT, “What is the Internet of Things?” explores some of these questions faced with the next generation of connectivity.