What is the Internet of Things (IoT)?

The Internet of Things (IoT) is a collection of physical objects (with sensors) that send and receive data via the internet or a private network. Over the past few years we have seen IoT becoming more relevant as more internet-enabled devices have been released to the market. Companies in different industries can use device sensors and IoT to, for example, predict equipment failures, increase productivity and efficiency of business operations, monitor human health via wearable devices, optimize track delivery routes, etc. IoT and IoT analytics applications are expected to continue to grow over the next few years as hardware becomes cheaper and more ML/AI services are developed to process the data generated by those devices.