The Transformative Effect of the Internet of Things on Business and Society

J. P. Shim, Michel Avital, Alan R. Dennis, Matti Rossi, Carsten Sørensen, Aaron M. French

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Abstract

This paper summarizes the discussion in a panel session on the Internet of things (IoT) at the 2017 International Conference on Information Systems (ICIS) in Seoul, Korea. The panel explored a research agenda on IoT technology and its interaction with business and society. IoT refers to the ever-growing number of numerous physical devices that feature software and location-based technologies that connect together in a network and exchange data with one another. IoT has garnered significant attention in information systems due to its rapidly expanding market and demand from a wide range of stakeholders such as consumers, businesses organizations, and government agencies. The IoT may be the next industrial revolution in which interconnected physical devices will automate skills and tasks. In today’s hyper-connected economy, IoT can radically transform businesses and society through increased transparency, optimized production processes, and decreased operating expenses. Overall, the panel identified a sixpronged IS research agenda for IoT that comprises the IoT’s impact on business and society, IoT monetization and end-user services, the IoT as a distributed platform, the convergence of the IoT and blockchain, security concerns and solutions, and the IoT and ethics. The paper concludes with a future direction for IoT.
Original languageEnglish
Article number5
JournalCommunications of the Association for Information Systems
Volume44
Issue number1
Pages (from-to)129–140
Number of pages12
ISSN1529-3181
DOIs
Publication statusPublished - Mar 2019

Keywords

  • Internet of things
  • IoT platforms
  • IoT standards
  • Monetization
  • End-user services
  • Business transformation
  • Security
  • Blockchain technology
  • Ethics

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