The “Internet of Things” has been a buzzword in the tech industry over the past few years. But at this year’s Consumer Electronics Showcase in Las Vegas, Jeremy Rifkin, the president of the association of economic trends, believes the Internet of Things is about more than connected cars and lights that turn on when you walk through the door.
According to Rifkin, the Internet of Things will transform every aspect of our lives, from health to the economy.
Rifkin says the tech industry is entering a new shift from “consumer” to “prosumer” products. In other words, the Internet of Things will allow consumers to contribute to society and the economy rather than just consuming.
Sensors embedded in everyday appliances will let homeowners and businesses produce electricity making them more sustainable, Rifkin said on stage at the opening CES keynote. Rifkin describes the near future when more connected devices enter the market as a more “economical and sustainable society.”
Rifkin describes a world in which our homes, businesses, and everyday health are all ruled by connected devices.
It’s unclear exactly how we’ll see this play out, but Rifkin’s words suggest that the Internet of Things could be more than just a gimmick and a buzzword.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.