In the video titled “IoT Solution V2”, Mobiloitte introduces the functions of IoT and its benefits to users. The benefits of IoT for businesses includes lowering operating costs, increasing productivity, expanding markets, developing smart products/services, and customer insight and analytics. The benefits of IoT for governments includes increasing productivity, decreasing costs, improving citizens’ quality of life, security and data governance, and mass connectivity. The benefits of IoT for consumers include convenience and efficiency, enhanced experience, safety and security, decision making support, and remote control. IoT serves a multitude of industries including telecom, utility, transportation, and retail. IoT creates many solutions like connected systems, asset management, workforce management, and data analytics. IoT is driven by sensors and embedded data that can be implemented into workforces, homes, and transportation at low costs and provide maintenance updates to individuals to save time and money.