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This article explores the contemporary realm of the Internet of Things (IoT) and its influence on society and the economy. The primary emphasis lies in examining the principal patterns within the realm of IoT, encompassing the escalation of connected device quantities and the utilisation of 5G networks. The article encompasses various facets, including an overview of the evolution and possibilities of IoT, encompassing the advancement of intelligent urban areas and the influence of 5G networks. The analysis of threats and vulnerabilities related to this technology focuses on detecting common flaws, including weak passwords, unsecured network services, and inadequate privacy measures. Furthermore, the essay presents concrete hazards in diverse sectors that employ IoT technology. Particular emphasis is given to potential cybersecurity vulnerabilities in healthcare, manufacturing, agriculture, retail, transport and logistics, energy, and smart cities. These businesses have distinct challenges and hazards due to incorporating IoT technologies. The authors also analyse the substantial financial commitment to IoT and its profound influence on the worldwide economy, including data on the expansion of the IoT market and investments in IoT technologies and smart cities. The findings emphasise that the Internet of Things (IoT) substantially influences society and the economy. However, it necessitates meticulous consideration of cybersecurity and privacy concerns. The authors underscore the significance of creating efficacious cyber security policies to safeguard against the possible hazards presented by IoT technology.
Vlasenko et al. (Thu,) studied this question.