IoT and the Transformation of Business Models and Society

A regular weekday morning. Before the clock strikes 8:30 AM, my car windows are preheated via an app, my home lighting is automatically adjusted at the right time, and I’ve already received personalized news updates on my phone. This is not a futuristic vision—it’s reality. A connected lifestyle is not only changing our daily routines but also reshaping how businesses create and deliver value.

IoT as a Catalyst for New Business Models

The Internet of Things (IoT) is not just a hype—it’s a fundamental shift transforming industries. Companies are moving from product-driven models to service- and platform-based approaches that continuously add value. Think of car manufacturers evolving into mobility service providers with pay-per-use concepts or manufacturers leveraging predictive maintenance to minimize downtime and maximize efficiency.

Yet, technology is merely a tool, not the ultimate goal. The real power lies in the right application and collaboration. Organizations with successful IoT strategies understand they cannot develop everything on their own. They build ecosystems, form strategic partnerships, and leverage each other’s expertise.

Impact on Society: More Efficient, Sustainable, and Personalized

A connected lifestyle is not just about convenience—it contributes to a more efficient and sustainable society. Smart thermostats reduce unnecessary energy consumption, connected health devices help detect potential health risks early, and smart cities optimize traffic flow and lighting.

However, this interconnected world also raises important questions. Who has access to our data? How do we safeguard privacy and ethics? The challenge is not just technological progress but also ensuring transparency and trust.

The Future: Embracing Rather Than Resisting

IoT is no longer something of the future—it’s here and now. Organizations that embrace IoT and establish the right collaborations are building sustainable, customer-centric, and efficient business models. And for consumers? They experience increasing convenience, personalization, and control over their own world.

As Kevin Ashton, the founder of IoT, once said: “The Internet of Things is not a concept; it is a network, the true technology-enabled extension of ourselves.”

Or as tech investor Benedict Evans puts it: “Everything that can be connected, will be connected.”

And futurist Gerd Leonhard cautions: “Technology is not what we seek, but how we seek.”

The question is not if we embrace this connected world, but how we do so in a responsible and strategic way.