The Internet of Things: Economic and Industrial Dimensions
International Journal of Business and Economics Research
Volume 6, Issue 5, October 2017, Pages: 115-123
Received: Aug. 21, 2017; Accepted: Sep. 11, 2017; Published: Oct. 30, 2017
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Author
Hans Werner Gottinger, Strategic Economics, STRATEC Consulting, Munich, Germany
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Abstract
The paper shows how the Internet has moved to a radical expansion with the Internet of Things (IoT) with everything being connected up to a scale of aggregate capacity and complexity. It could evolve into a network where not only each node could be a computational device but by itself would also be an intelligent computing device that could replace human supervision and control as through Artificial Intelligence (AI). The Internet of Things (IoT) as being embedded in the ‘Industrial Internet’ (IIoT) is a new paradigm shift that comprehensively affects computers and networking technology. In German industry and beyond this is referred to as ‘Industry 4.0’. This technology is going to increase utilization and diversified connectivity followed by Bandwidth of the Internet. More and more (intelligent) devices in this network are connected to the Internet through various combinations of sensor networks.
Keywords
Internet of Things, Industrial Internet, Internet Technologies, Innovation, Artificial Intelligence, Security, Economic Benefits
To cite this article
Hans Werner Gottinger, The Internet of Things: Economic and Industrial Dimensions, International Journal of Business and Economics Research. Vol. 6, No. 5, 2017, pp. 115-123. doi: 10.11648/j.ijber.20170605.15
Copyright
Copyright © 2017 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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