The Fourth Industrial Revolution by Klaus Schwab 2.1.2 Digital One of the main bridges between the physical and digital applications enabled by the fourth industrial revolution is the internet of things (IoT) – sometimes called the “internet of all things”. In its simplest form, it can be described as a relationship between things (products, services, places, etc.) and people that is made possible by connected technologies and various platforms. Sensors and numerous other means of connecting things in the physical world to virtual networks are proliferating at an astounding pace. Smaller, cheaper and smarter sensors are being installed in homes, clothes and accessories, cities, transport and energy networks, as well as manufacturing processes. Today, there are billions of devices around the world such as smart phones, tablets and computers that are connected to the internet. Their numbers are expected to increase dramatically over the next few years, with estimates ranging from severa...