Lakhasly

4G lI. 8:02 .The Transformative Effect of the Int...X Volume 44 Paper 5 pp 129-140 January 2019 Communications of the Association for Information Systems 130 1 Introduction The Internet of things (loT) refers to things connected to the Internet that can communicate with one another and that one can access through ubiquitous technologies (Atzori, lera, Morabito, & Niti, 2012) The loT has garnered significant attention in information systems (IS) because it affords ubiquitous services with increased connectivity and integration into business and society that offer myriadi opportunities. A recent report from McKinsey & Company has projected companies connectivity expenditures to increase 15 percent annually through 2022 (Baroudy, Kishore, Nair, & Patel, 2018) Further, reports from Gartner, Deloitte, McKinsey, and the Info-Tech Research Group (Raynor & Cotteler 2015; Info-Tech Research Group, 2015; Zhang, 2016) have emphasized the prevalence of loT and projected the loT industry to be a multi-trillion-dollar opportunity with 50 billion devices connected by 2020. n today's hyper-connected economy and environment, loT has the potential to radically transform businesses and society through increased transparency, increased output and uniformity, and decreased operating costs. Numerous physical devices and objects referred to as "smart devices (e.g., appliances trashcans, water meters, vending machines) now feature software and location-based technologies that connect to networks that exchange data with each other ubiquitously.. This instrumented, "interconnected", and intelligent connectivity between devices positions loT as a technology with the potential to make a significant impact on the human enterprise and its organization. The loT is also one of the technologies setting the path for the fourth industrial revolution in which interconnected physical devices will automate skills and tasks, which will have a direct impact on the way consumers, businesses, and govemments interact with the world. The loT has resulted in numerous new technologies referred to as "smart technologies. The current principal growth areas for loT products have been in consumer goods, which range from connected cars to voice-activated assistants in smartphones, wearable devices, and appliances with sensors. loT consumer products have affected consumers daily lives through service automation, allowing, for example, to open locks (e.g. with a remote control), to shop and pay for goods (e.g., using a smartphone to shop online with an electric wallet), and to track fleet trucks on the highway and in freight yards. The use of sensors on animals, such as sharks, allows researchers to study their migration and activities (Ritz & Knaack. 2017). Many loT applications have the potential to increase efficiency. improve quality of life. and enable better management. The loT can also allow governments to create and integrate intelligent technical solutions that smart cities require, such as smart transportation systems, smart parking, smart buildings, and smart bridges While loT offers many bright benefits, it also has a dark side. Some have also expressed concems about the negative consequences that loT may have on the nature of work and data security. The introduction of loT and automated systems has already fueled industry cost savings as the manufacturing industry has replaced many employees with wirelessly controlled robots. This trend will likely eliminate thousands of more manufacturing jobs in the future. The debate about whether manufacturing firms should outsource their jobs or not (and, thus, lead to onshore employee losses) will no longer represent a primary concern as manufacturing turns from human resources to loT-enabled production. In this paper, we provide IS scholars with an loT-related research agenda. Various obstacles remain in the loT arena, such as connection efficiency, platform and standards, security, data analytics, monetization of end-user services, the convergence of the loT and Blockchain, privacy, and compliance. The panel addressed the following questions to the audience: What connectivity issues does the loT experience? How efficient are loT devices from a technical perspective? What is the status of loT platforms and standards? What role does cybersecurity play in the loT and why is loT security so important? What are characteristics, challenges, and trends of loT data analytics? What are the challenges in sensor-based service management? What strategies are most appropriate for loT data monetization? What role does the convergence of loT and blockchain technology play? What benefits, privacy concems, compliances, and ethical issues can we expect with the loT? Volume 44 10.17705/1CAIS.04405 Paper 5