Internet of Things

This chapter specifies the Internet of Things (IoT), namely, a digital technology characterized by sensors and devices that are connected in an online ecosystem. Many IoT solutions exist in the private sphere, for instance, to create a smart home. Additionally, the IoT challenges organizations. Especially in manufacturing industries, organizations are strongly rethinking their business models for shifting from a product-centric to a more service-centric logic and so-called servitization. The success story in this chapter showcases this servitization transition to facilitate the predictive maintenance of machines. However, IoT applications exist in many other sectors. This chapter also differentiates between industrial IoT and cyber-physical systems. Finally, because this digital technology gathers much data, a link with AI is made.