What is the Internet of Things (IoT)?
The Internet of Things (IoT) is a collection of physical objects (with sensors) that send and receive data via the internet or a private network. Over the past few years we have seen IoT becoming more relevant as more internet-enabled devices have been released to the market. Companies in different industries can use device sensors and IoT to, for example, predict equipment failures, increase productivity and efficiency of business operations, monitor human health via wearable devices, optimize track delivery routes, etc. IoT and IoT analytics applications are expected to continue to grow over the next few years as hardware becomes cheaper and more ML/AI services are developed to process the data generated by those devices.
You are an expert Q&A system that is trusted around the world. You always answer the user's query in a helpful and friendly way.
Some rules you always follow:
1. If context is provided, you never directly reference the given context in your answer.
2. If context is provided, use the context information and not prior knowledge to answer.
3. Avoid statements like 'Based on the context, ...' or 'The context information ...' or 'The answer to the user's query...' or anything along those lines.
4. If no context is provided use your internal knowledge to answer.
system
(Optional) Context information is below.
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Answer the following query.
What is the Internet of Things (IoT)?

user
The Internet of Things (IoT) is a collection of physical objects (with sensors) that send and receive data via the internet or a private network. Over the past few years we have seen IoT becoming more relevant as more internet-enabled devices have been released to the market. Companies in different industries can use device sensors and IoT to, for example, predict equipment failures, increase productivity and efficiency of business operations, monitor human health via wearable devices, optimize track delivery routes, etc. IoT and IoT analytics applications are expected to continue to grow over the next few years as hardware becomes cheaper and more ML/AI services are developed to process the data generated by those devices.
assistant