THE FINANCIAL ASPECT OF IOT PROCESS AUTOMATION IN CREATING NEW VALUE FOR THE ECONOMY
Abstract: In today’s world, devices with possibility to communicate, are emerging and growing daily. Th is advanced technology is bringing ideas of how to use these devices, in order to gain fi nancial benefi ts for enterprises, business and economy in general. Purpose of research in this scientifi c paper is to discover, what are the trends in connecting these devices, called internet of things (IoT), what are fi nancial aspects of implementing IoT solutions and how leaders in area of cloud computing and IoT, are implementing additional advanced technologies such as machine learning and artifi cial intelligence, to improve processes and gain increase in revenue, while bringing automation in place for the end users. Development of informational society is not only bringing innovation to everyday life, but is also providing eff ect on the economy. Th is eff ect refl ects on various business platforms, companies and organizations while increasing the quality of the end product or service that is being provided.
Keywords: internet of things, machine learning, predictive maintenance