The Internet of Things (IoT), which allows for connected devices and data exchange through network connectivity, is emerging fast as an everyday reality for millions of consumers, businesses and policy makers. Indeed, the number of connected devices long ago surpassed that of people and is predicted to reach the astonishing figure of 25 billion by 20202. Billions of sensors and devices integrated within information and communications networks bring about a fundamental change in established patterns of work, leisure, consumption, and business. The IoT is at the epicenter of what is often referred to as the ‘fourth industrial revolution’, a deep transformation of manufacturing brought about by connectivity, data, and artificial intelligence.

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