11/20/2014 09:53 am ET Updated Dec 06, 2017

Everything You Need to Know About the Internet of Things

A few months ago I wrote a post called, "A Simple Explanation Of The Internet Of Things" where I tried to provide some clarity around what this new connected world means for all of us. In the article I mentioned some of the driving forces behind this.

"Broadband Internet is become more widely available, the cost of connecting is decreasing, more devices are being created with wifi capabilities and sensors built into them, technology costs are going down, and smart phone penetration is sky-rocketing. All of these things are creating a "perfect storm" for the IoT."

Today we live in a world where some of our devices are connected to each other and to us, for example wearable fitness devices that connect to our scales or smartphones that connect to our lights.

However, imagine this amplified 100 fold where tens of billions of devices are connected to each other, everything from cars and phones to wearable devices, appliances, or even jet engines!

Clearly this poses a unique set of challenges and opportunities for businesses and consumers alike. To expand on that I wanted to share a visual created by the FOW Community which highlights ten important things that everyone needs to know about the internet of things.