The Internet of Things (IoT) is an interconnected network of digital devices, which includes physical objects, embedded with sensors, connected to the internet and to each other. With this connection and the ability to access data from multiple sources, IoT provides businesses with greater efficiency and convenience. The potential of IoT is truly revolutionary. With the help of connected devices and cloud computing, businesses can access real-time data and enable automated functions which quickly improve the efficiency of their operations. From retail operations to smart warehouses, the potential of IoT can be used to gain insights and make decisions to create more cost savings, smarter use of resources, and improved customer service. At the same time, IoT is transforming how we interact with the devices around us. Convenience is no longer limited to smart phones and tablets, but is extended to everyday objects. Smart home appliances, for example, can be programmed to take actions based on user preferences and sensor data. IoT can also be used in the public sphere, as it has the capability to enable connected cities. Through the use of integrated sensors, infrastructure, and software, cities can become connected and use data to improve city services and make cities smarter, more efficient, and safer for its citizens. Despite these opportunities, there remain some security risks which cannot be overlooked. With data being constantly collected and transmitted over the internet, it's important to ensure the security of these networks. Data breaches can be dangerous, not just in terms of financial losses, but in terms of loss of personal information. Encryption and authentication systems need to be employed to ensure risk mitigation and secure transfer of data. The Internet of Things has already changed the way things work and is only poised to become more pervasive in the coming years. We have only scratched the surface of its potential, and its sure to bring immense convenience and efficiency to businesses, governments, and individuals around the world.