WASHINGTON, DC - The Subcommittee on Commerce, Manufacturing, and Trade, chaired by Rep. Michael C. Burgess, M.D. (R-TX), today explored the next technology frontier: the Internet of Things (IoT). Members of the subcommittee kicked off the day at the Internet of Things Showcase where they saw firsthand the latest in innovation and technology from their very own districts. Companies highlighted how their Internet-connected products are working to grow local economies and create jobs while improving consumers’ lives. The showcase provided members and attendees the opportunity to interact with some of the latest advancements in automobiles, home security, glass, health care, energy efficiency, and much more.
Members of the Subcommittee on Commerce, Manufacturing, and Trade at the Internet of Things Showcase.
Immediately following the showcase, the subcommittee convened a hearing to hear from a panel of experts about the IoT. Witnesses discussed the many benefits and great potential of the IoT as well as some of the challenges facing this new segment of the economy.
“As our country looks for new economic engines and more jobs, The Internet of Things marks a crucial juncture for the U.S. economy and American consumers. It promises a world in which digital and physical elements communicate in real-time to predict circumstances, prevent problems, and create opportunities," said Burgess.
Members of the Subcommittee listen as panel explains the endless possibilities of the Internet of Things.
Brian Van Harlingen, Chief Technology Officer at Belkin International, explained how the IoT is accelerating at a phenomenal speed and transforming the world around us. “The Internet of Things will reinvent the way people live around the world as more everyday physical objects connect to the Internet and become intelligent," said Harlingen.
Rose Schooler, Vice President at Intel Corporation, emphasized the staggering economic opportunities IoT presents the U.S. “McKinsey projects that IoT will have an incredible $2.7 trillion to $6.2 trillion global economic impact by 2025," said Schooler. “And what should most excite U.S. policymakers is that the U.S. and other developed economies are expected to capture a remarkable 70 percent of this economic impact, if we develop a leadership position."
Daniel Castro, Vice President at the Information and Innovation Foundation, urged Congress to avoid heavy-handed regulations that could stifle innovation and to take action to ensure the IoT’s success. “Just as the success of the Internet today can be credited in part to policymakers actively taking a role to ensure its growth, a similar approach should to be applied to building the Internet of Things," said Castro. “The Internet of Things has the potential to positively impact virtually every industry from agriculture to health care, and the federal government should be an active partner in its development." See Also
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