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The Economy of Things: When Machines Become Economic Actors
The Internet of Things is evolving beyond connectivity into a world where machines can make commercial decisions, negotiate transactions and exchange value with limited human intervention.
This paper explores the emergence of the Economy of Things and introduces the concept of the Economically Autonomous Object (EAO) — an intelligent, connected asset capable of acting within defined commercial boundaries. Examining applications across insurance, consumer goods, transportation and the circular economy, it considers how the convergence of AI, digital identity, IoT and automated financial services could fundamentally reshape commerce, ownership, risk and the way businesses operate.
The Economy of Things: When Machines Become Economic Actors
The Internet of Things is evolving beyond connectivity into a world where machines can make commercial decisions, negotiate transactions and exchange value with limited human intervention.
This paper explores the emergence of the Economy of Things and introduces the concept of the Economically Autonomous Object (EAO) — an intelligent, connected asset capable of acting within defined commercial boundaries. Examining applications across insurance, consumer goods, transportation and the circular economy, it considers how the convergence of AI, digital identity, IoT and automated financial services could fundamentally reshape commerce, ownership, risk and the way businesses operate.