How the internet of things influences competitive advantages of a company

The article describes the concept of the Internet of Things (IoT). Which allows multiple devices to interact automatically using a remote-control algorithm based on the transmission of certain data. The internet of things has a limited potential, but almost all spheres of public life, including business, internet with the IoT-technologies. The impact of such technology on the activities of a company is examined in this article. The author identifies both positive and negative impacts of the Internet of Things on a company's competitive advantages. The advantages of the technology are identified as automation, cost reduction, efficient operational and strategic management, and the creation of an attractive company image. Risks associated with implementing the technology are also highlighted, including expenses for technology architecture, data security, dependence on power sources, electricity costs, and the challenge of recruiting skilled employees. Based on the listed advantages and disadvantages, company management should develop an action plan for implementing the technology and include justification for its implementation.