03/25/2015 03:13 pm ET Updated May 24, 2015

TheFuturein5 Episode 24: Why The Internet of Things is Going to Change Everything

In this episode of the Future in 5, I talk about the internet of things. I've touched on wearable devices and things related to technology in the past, but I wanted to focus specifically on how the internet of things is going to change our lives. We're all familiar with people connecting to the web -- we can go online on our phones, computers, etc. But, what happens when devices start to go online? For example, I have a Fitbit Surge, a smart watch that goes online and connects to my scale, my computer and mobile phone. Conservative reports estimate around 26 billion devices will be connected by 2020 with some estimates as high as 100 billion to 200 billion devices. What sort of devices are we talking about? Literally, anything -- phones, lights, fitness trackers, toasters, toothbrushes, small devices or big devices. We are moving towards a world where literally everything you can imagine is connected. In this episode I explore what this could mean for us. While it opens the door to many opportunities for the consumer and businesses, it also comes with its own risks and challenges. Regardless, I believe this is going to be a very exciting time. It is going to change everything -- impacting everyone and every business around the world within the next few years. Of course, nobody exactly knows what is going to happen when we get to a world where absolutely everything is connected because we are not there yet. But, what do you think? I'm curious to hear your opinion, so tune in!

Jacob Morgan is a futurist, best-selling author and keynote speaker, learn more by visiting The Future or check out his latest book,"The Future of Work: Attract New Talent, Build Better Leaders and Create a Competitive Organization," on Amazon.