LOOKING FORWARD
on agreeing the rules of the game, both relating to the basic technical specifications that underpin IoT, and in the ethical and security standards that companies should follow, the better and faster the industry will progress – and the greater the consumer benefit. Fans of the free market will be quick to point out that
the invisible hand will play a big role in making all of this happen. However, as I’ve noted above, many of the current applications of IoT are at best superfluous and at worst laughable. It will take time before full potential and value of IoT is realised. It is therefore essential to maintain consumer trust, faith and patience in the interim. 25