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Digital Subscriptions > Cities Today > Issue 21 > IoT is crucial for circular economy development, reveals new report

IoT is crucial for circular economy development, reveals new report

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A new report, Intelligent Assets: Unlocking the circular economy potential, launched by the Ellen MacArthur Foundation, World Economic Forum, and McKinsey & Company asserts that pairing circular economy principles with emerging Internet of Things (IoT) technologies could be vital for driving innovation and moving towards a prosperous economy in the future. With up to 50 billion devices predicted to be connected to the internet by 2020, a digital transformation is reshaping the economy. The report establishes that the interplay between the value drivers of a circular economy, which aims to keep products and materials at their highest value at all times, and those generated by a network of intelligent assets, presents significant opportunities for almost every part of society.

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