IoT: Is it the Future?

For quite a while now, i've been thinking about the future of technology, and the internet. It seems like each day the internet is growing at an ever expanding rate. More and more devices are being connected to the internet, and more and more people are gaining access to these devices.

I feel like IoT (the internet of things) is the next big step for technology, and for internet connected devices. The internet of things is the idea that every single device, including ordinary objects, can become internet-connected devices. Beyond that, I believe the internet of things improves upon already existing devices. There is a great analogy that I use (I didn't come up with it XD):

The vending machine automatically notifies the company that there are no drinks left.

See the internet of things also includes the fact that these internet connected devices become connected to other devices. I believe that this could improve our forms of communication, but it could also allow for devices to become completely autonomous.

I'm just curious to see your opinion about IoT. Feel free to talk about security, privacy, etc.