Mar 24 2015
S. Res. 110 Offers Strategy to Expand U.S. Global Competitiveness in the Digital Age
Washington, D.C. – This evening, the United States Senate unanimously approved a bipartisan resolution calling for the Internet of Things to promote economic growth and greater consumer empowerment. The resolution, introduced by U.S. Senators Deb Fischer (R-Neb.), Cory A. Booker (D-N.J.), Kelly Ayotte (R-N.H.), and Brian Schatz (D-Hawaii) generated from a Senate Commerce Committee hearing earlier this year titled “The Connected World: Examining the Internet of Things.”
Senator Fischer released the following statement regarding the resolution:
“The United States is well positioned to lead the world in innovation policy. Our bipartisan resolution commits our nation to a strategy for the Internet of Things. It incentivizes the use of new technologies and seeks to maximize consumer opportunity and economic growth. This forward-thinking initiative is an important first step in ushering new ideas and innovations for years to come.”
Senator Booker released the following statement regarding the resolution:
“The Internet of Things has unbounded potential to impact our economy, society, and individual well-being. Passing this resolution underscores our strong commitment to fostering innovation, protecting consumers, and finding solutions to our toughest problems through technology-driven solutions. I look forward to working with my colleagues on both sides of the aisle, as well as public and private sector stakeholders, as we continue working together to build on this shared vision to ensure that America leads the world in cutting-edge technologies.”
Senator Ayotte released the following statement regarding the resolution:
“From New Hampshire to Nebraska and across the United States, the economic potential for the Internet of Things is truly remarkable because we have the most creative, capable and talented people in the world. Innovation and free-market principles must drive our hands-off regulatory approach, not overregulation. The Internet of Things resolution would encourage new opportunities to harness the power of the Internet and develop innovative solutions for people and businesses.”
Senator Schatz released the following statement regarding the resolution:
“The Internet of Things holds enormous potential. And with more and more devices connecting to the Internet every day, the United States has a unique opportunity to continue leading this technological revolution. As we work to advance the Internet of Things, we must remain committed to empowering consumers, developing technological safeguards while enabling innovation, and improving the quality of life for future generations.”
Over the past several months, Senators Fischer, Ayotte, Booker, and Schatz have worked on a bipartisan basis to explore new connected technologies and related public policy issues. Earlier this year, the Federal Trade Commission released a report on the Internet of Things following their 2013 workshop on the same topic.
A recent report by International Data Corporation estimates that the Internet of Things will generate nearly $8.9 trillion in global revenues with over 200 billion connected objects by 2020. In 2013, nine of the top 10 most innovative companies in the world were based in the United States. One recent study indicated that 90 percent of all data in the world had been generated in the previous two years.
The senators’ resolution puts the United States Senate on record supporting a strategy to maintain U.S. global competitiveness in the digital age. It also calls for a modern framework around innovation, recognizing the importance of consensus-based best practices and the need for innovators to drive the future development of the Internet of Things. The rapidly developing market of health wearables, connected homes, and other novel solutions represents an expanding industry of consumer products.