Just about every business will become an internet of things (IoT) business. The convergence of the digital and physical worlds makes this inevitable. When the products companies sell are connected 24/7/365, dynamic and ever-improving value can be delivered to customers throughout the product’s life cycle. This will become the norm. Therefore, launching a successful IoT business requires a fundamental shift, a transition from product-centric to service-centric business models. Companies looking to capitalize on IoT will become IoT service businesses. Operations dependent on one-time product sales will become obsolete as business value moves from products to the experiences they enable. This transformation will fundamentally change how businesses operate, interact with customers and make money. Those who recognize that the internet of things isn’t about things but about service will be positioned to meet these new customer demands, unlock new sources of revenue and thrive in this connected world. Jahangir Mohammed, CEO of Jasper Technologies, Inc
