A recent Accenture survey asked C-level executives -- about half of which were CEOs -- what the main benefits of the Internet of Things, or IoT, will be for their companies. While there were plenty of responses, three key ideas rose to the top: employee productivity, asset optimization, and cost cutting.
That falls in line with IoT cost savings predictions General Electric (NYSE:GE) has made, as well as internal Internet of Things benefits Verizon Communications (NYSE:VZ) and Intel (NASDAQ:INTC) have already created.
Microsoft has already proven that companies large and small can use the Internet of Things to boost their businesses. The company's IoT solutions helped a Jeep factory and small stone-cutting business increase productivity.
But there are plenty of companies that don't yet realize the the full potential IoT could have on their businesses, and time is running out.
Chris Neiger has no position in any stocks mentioned. He likes boiling down the sometimes complex Internet of Things topic into digestible charts and articles. Unfortunately, all this talk about boiling and digesting is making him a bit hungry. The Motley Fool recommends Accenture, Apple, Cisco Systems, Intel, and Verizon Communications. The Motley Fool owns shares of Apple and General Electric Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.