Interesting read Kishore Swaminathan, Chief Scientist at Accenture, on the possibilities of the Internet of Things and the myths of the things that are stopping the thing called the Internet of things happening.
Myth 1: IoT is a Technology. IoT is a concept, not a technology you would buy. (See also: http://thebln.com/2013/04/the-internet-of-things-a-definition-according-to-cisco/).
Myth 2: IoT is the next wave of the Internet. The closest some devices will get to the Internet is using TCP/IP protocols.
Myth 3: Regulations on data privacy is a critical enabler of the IoT. Privacy concerns might give rise to more innovative business models, but that is no reason to hold off on understanding what the IoT means for businesses.
Myth 4: IoT needs device communication standards. Standards never hurt but most devices will be communicating for specialist and limited reasons.