IoT and Digital Transformation

Digital transformation has been a key phrase in recent years across all corners of the economy. This chapter focuses on the role of Internet of Things (IoT) toward digital transformation in modern industries, businesses, and personal lives. There are many different types of opportunities that are wholly or partially attributed to IoT such as quality of existing service, increased efficiency, secondary by‐products of data, and added security. The chapter reviews some of the risks facing any digital transformation program, they are poor human‐machine integration, over‐enthusiasm for ROI, too little or too much technology, and reduced security. In the industrial IoT realm, things are similar in nature but slightly different in form. It is expected that the solutions will be more sophisticated and may even need training. An important theme in the business cases is the integration or collaboration between IT and OT organizations when it comes to digital transformation.