Benefits of IoT in Business

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Questions and Answers

How does IoT help businesses in identifying and addressing potential risks?

By enabling real-time risk mitigation.

What transformation does IoT facilitate in business models?

Shift from product-based to service-based models.

How does IoT promote ecosystem collaboration?

By creating new partnerships and collaborations within the IoT ecosystem.

What regulatory aspect is crucial for businesses due to increased data collection?

<p>Data privacy compliance.</p> Signup and view all the answers

What are some of the opportunities offered by the integration of IoT technologies for businesses?

<p>Increased efficiency, innovation, and competitiveness in the digital landscape.</p> Signup and view all the answers

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