Digital Transformation- The Internet of Things- Opportunities and Challenges

Abstract

Internet of Everything is the most promising domain in the world of Connectivity which encompasses the Internet of Things. The Internet of Things refers to assigning digital identifiers to objects around us, allowing inanimate things like devices, electronic appliances, vehicles, and others to be remotely accessed by human for ease of use and convenience. The Internet of Everything brings together people, process, information and objects to make networks of Communication more meaningful and valuable than ever before, thus providing economic opportunities for businesses and individuals. IoE will help businesses achieve this goal by creating newer opportunities for greater optimization and efficiencies. The Internet of Things has taken over the business markets over the last few years. The viable benefits of IoE has encouraged and empowered Entrepreneurs through cost-cutting, efficient execution of innovative business ideas. People experience the environment around them through their senses (hearing, touch, sight, taste, and smell). In this context, IoE is an exponential proxy for sensing, understanding, and managing the world around. This paper focuses on exploring the huge competitive advantages for organizations who adopt IoT/IoE based technologies. Further, the paper also discusses the important challenges of Information Technology, specific to the Internet of Everything.