Billions of new IoT devices, apps and services could transform our lives in ways we can only begin to imagine, thanks to the connectivity of the cloud, big data and mobile. While today’s most well recognized use cases are in home automation and security, there are significant advancements in areas such as industrial, smart cities, agriculture and retail as well. In my view, the real potential of the IoT requires a vision beyond an IoT app stitched around sensors and data.

Too many people are shortsighted and tend to think along the lines of traditional applications that solve specific problems. Instead, they should think of building ecosystems that drive incremental and recurring revenue by solving larger problems.

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