Leveraging the Internet of Things (IoT) Algorithms, Tools and Techniques in Creating Disruptive and Innovative Business Models
Shweta
Symbiosis College of Arts and Commerce, Pune
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The Internet of Things (IoT), also known as the Internet of Intelligent Things, is a focal point of discussion and innovation in business and research realms. It encompasses systems integrating computation, sensing, and communication to connect human and non-human entities, fostering organizational monitoring, automation, and decision-making. IoT establishes a network of 'smart' devices interconnected via the Internet to create a pervasive and ubiquitous environment or IoT ecosystem. This ecosystem comprises various objects, including RFID tags, sensors, actuators, smartphones, and household appliances, collaborating autonomously to deliver intelligent services for humanity's benefit. However, challenges such as public awareness gaps, device standardization issues, and the inherently dynamic nature of IoT, influenced by factors like mobility, pose significant hurdles. Consequently, concerns regarding security and privacy have been raised. This paper delves into IoT's conceptual framework, architecture, and emerging business models and addresses security and privacy issues. It proposes countermeasures and emphasizes cybersecurity awareness's importance in mitigating IoT-related threats effectively. Additionally, recommendations are provided to alleviate the impacts of these concerns on IoT deployment and utilization.
Keywords: Internet of Things (IoT); Iot Architecture; business models of IoT
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