The internet of things (IoT) and related technologies continue to transform people’s lives, with use cases growing in such areas as healthcare, education, living and workspace, and more. The COVID-19 pandemic that spread around the world in early 2020 and continues to affect it today has underscored the important roles IoT and other technologies have in confronting the world’s myriad challenges. For example, as governments put social distancing measures in place to curb the spread of the pandemic, businesses are using IoT tools to maintain continuity by digitizing processes and monitoring output.
Understanding the opportunities and potential risks of IoT and related technologies is critical to ensuring the maximization of their benefits, while recognizing and minimizing the risk associated with their use. This has many implications, particularly regarding questions about the ethical use of the technology, security and privacy, and equal access to the technology. To strengthen global governance and the innovation of IoT technologies for the benefit of society, the World Economic Forum Council on the Connected World, a global group of diverse executive leaders and subject- matter experts, was formed in 2019. It published the first edition of this report in 2020, the result of its effort to better understand how IoT is viewed worldwide and to establish clear priorities for action.
This edition builds on that work. It aims to help understand and prioritize key governance gaps in the development and expansion of IoT technologies. Through a survey and interviews of experts around the globe, we set out to capture the trends of governance gap perceptions since the last edition, revitalize stakeholder support and commitment to address the gaps, and reprioritize the actions and resources to address them.