Samsung CEO asks the tech industry to come together for the sake of the Internet of Things.

Do you believe in the potential of the Internet of Things? Well, Samsung’s President and CEO BK Yoon does, and he has appealed to all the tech companies in the world for greater openness and collaboration across the industries to unlock the infinite possibilities of the IoT.

“The Internet of Things has the potential to transform our society, economy and how we live our lives. It is our job to pull together — as an industry, and across different sectors — to make true on the promise of the Internet of Things,” says Yoon. Yoon further emphasizes that the IoT must center on people and fit into their lifestyles as the IoT isn’t about ‘things’, it’s about people.

As part of Samsung’s commitment to realizing the IoT era, Yoon has announced that all Samsung products will be IoT-ready within the next 5 years, spurring the expansion of IoT devices available on the market. Further stressing the importance of IoT, Samsung has announced that it will invest more than USD 100 million in its developer community in 2015.

Samsung fully believes that the IoT will have far-reaching impact, surpassing the consumer electronics industry , as it will touch every aspect of people’s lives and revolutionize every industry. For IoT to succeed, Yoon states that companies across all industries will have to collaborate to build the necessary infrastructure and develop the many tailored IoT services that can meet the needs of consumers.

“I know in my heart that neither one single company nor one industry alone can deliver the benefits of the Internet of Things,” says Yoon. “To create this IoT universe, we have to see the potential of the Internet of Things across all kinds of industries. Only if we work together can we improve people’s lives.”