Internet of Things in the development of future businesses in Albania
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Abstract
Internet of Things (IoT) refers to a technology that connects various devices and objects, leading to a digital revolution in different aspects of life. It has the potential to create highly efficient and rewarding smart environments for individuals. The IoT not only impacts our daily lives but also significantly influences how we work and conduct business. IoT, which links people, businesses, and intelligent objects, aims to profoundly alter how we live, work, and interact. It also has the potential to reinvent a wide range of business sectors. The goal of this conceptual paper is to establish a picture of how the IoT can change business models and the methods through which people and organizations produce value. The goal of this conceptual paper is to establish a picture of how the IoE can change business models and the methods through which people and organizations produce value. This article focuses on IoT technology and how it affects businesses, emphasizing how crucial it is for such organizations to be ready for and able to adapt to the changes it brings. It emphasizes the need for businesses and industries to incorporate this technology into their operations to enhance their business models, increase productivity, improve efficiency, and reduce costs. Let's see if SMEs (Small and Medium Enterprises) in Albania can benefit from the further advancement of IoT, what are the expectations, possibilities, and potential risks that may arise on this journey.
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