Armed with the Big Data weaponry, Internet of Things is set to ring in an industrial revolution that makes business break political, legal, and social barriers. Economic theorist and author Jeremy Rifkin explains the importance of the Internet of Things and how it is redefining Capitalism as we have known it. According to Rifkin, the 100 trillion sensors expected for 2030 will change the way business is done and turn consumers into prosumers.
He gives quite a few examples of where all those sensors can be found and what can be done with it. The lateral neural network required for so many sensors will be based on three operating engines: the communication Internet, the energy Internet, and the logistics Internet. The Internet of Things will impact many aspects of our lives, including capitalism and our economic systems.
Watch Prof. Rifkin talk at