Dynamic socio-economic disequilibrium catalyzed by the Internet of Things

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Shoumen Palit Austin Datta


The technology based conceptualization of the internet of things (IoT) and the industrial internet may have started circa 1988 with the work of Mark Weiser of Xerox Palo Alto Research Center who suggested that computers may “weave themselves into the fabric of everyday life” and influence the future of business, as a consequence (Scientific American, 1991). The knowledge base Weiser was referring to is the discussion by Herbert Simon in his 1987 paper “The Steam Engine and the Computer: What makes technology revolutionary” where Herbert Simon frames his thoughts about the computer, “you have to make friends with it, talk to it, let it talk to you.” (...)

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