'Internet of Things' holds promise, but sparks privacy concerns

Kitchens ordering food, washing machines turning on when energy demand on the grid is lowest, cars calling emergency services after an accident - all that could be part of an "Internet of Things."

The European Commission has recently initiated public consultation on the so-called Internet of Things. Scheduled to be completed this summer, the consultation is a step toward potential regulation.

And while some say the Internet of Things is just around the corner, others think it is already here. That's why concerns such as privacy, security and who has access to data collected by governments and companies should be at the top of the agenda, they say.

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