Download the pdf below:"It all began with a coffeepot. A coffeepot that was connected to the Internet (before it was even called the Internet) and which provided information about its status (long before there was Twitter). In 1991, researchers at Cambridge University shared a single coffeepot among several floors. The researchers were frustrated by the fact that they would often climb several flights of stairs, only to find the coffeepot empty. They set up a videocamera that broadcast a still image to their desktops about three times per minute — enough to determine the level of coffee in the glass pot. Several years later, that coffeepot had become one of the first Internet web cam sensations, with millions of hits worldwide. That coffeepot was a proof of concept for today’s networked objects and the Internet of Things. Since then, the price of processing power has dropped significantly, and a number of projects are demonstrating the benefits of adding processors, sensors, and transmitters to a range of objects.“The question is no longer ‘is this possible,’ but rather ‘will this feature bring me enough new customers to offset the small marginal cost of the hardware?” said Mike Kuniavsky, a partner of ThingM, a ubiquitous computing device studio. The Internet of Things comprises a digital overlay of information over the physical world."By Constantine A. Valhouli, a principal with The Hammersmith Group, a strategy consulting firm. Hammersmith concentrates on real estate and technology (intelligent buildings, smart devices, and networked objects). Valhouli holds an MBA from Columbia Business School and an MA in interactive telecommunications from Georgetown’s Communications, Culture & Technology program.