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The Internet of Things is an ever-growing economic domain that leverages the latest advances of cloud computing, Artificial Intelligence, and Big Data analytics to implement better and smarter ways of living for all consumers. This article explores the range of IoT solutions in use, the benefits of IoT applications for businesses, and the ways to build an IoT strategy you can monetize successfully. With the proliferation of smart city initiatives across the globe and the popularity of smart home appliances, the future of IoT is happening right now!