Internet Economics: Models, Mechanisms and Management

Internet Economics: Models, Mechanisms and Management

The internet represents a rapidly evolving set of technologies which is central to the development of a modern economy. Internet Economics: Models, Mechanisms and Management integrates knowledge ...
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The Internet of Things and the Industrial Internet

Pp. 125-143 (19)

Hans W. Gottinger

Abstract

The Internet in the form of expansion of things, or everything, the Internet of Things (IoT) shows how Internet could lead to a radical dimensional and combinatorial type expansion. The Internet of Things (IoT) embraces connectivity up to a scale of aggregate capacity and complexity. It could evolve into a network where not only each node would be a computational device but by itself, it would also be an intelligent computing device that could replace human supervision and control through Artificial Intelligence (AI). The Internet of Things (IoT) as being embedded in the ‘Industrial Internet’ is a new paradigm shift that comprehensively affects computers and networking technology. This is also recently referred to the buzzword ‘Industry 4.0’. This technology is going to increase the utilization followed by Bandwidth of the Internet. More and more (intelligent) devices in this network are connected to the Internet through various combinations of sensor networks and interactive machine learning.

Keywords:

Artificial Intelligence (AI), Bandwidth of the Internet, CEBIT, Complexity, Hannover Industrial Fair, Industry 4.0, Industrial Internet, International Telecommunication Union (ITU), M2M Communication, Quality of Service (QoS), Radio Frequency Identification (RFID), Security of Things, Semantic Web, Supply Chain, Web 2.0, Web of Things (WoT), Wireless Sensor Network (WSN).

Affiliation:

STRATEC Munich, Germany.