Pay attention to the possible consequences instead of always focusing on the positive.
IoT is great when it is ONLY YOUR data and devices being monitored and can usher in a new era of detailed information. See John Deere and CSX.
However, for every plus, you have to deal with the minuses. For example:
" Consider establishing frameworks for different types of connected devices. For example, common terms-of-use for any devices tied to smart grids that track electricity and water usage might be used to reward individuals for conservation and assist in determining utility pricing."
Tthis sounds great until you realize that it can also be used to PUNISH anyone who doesn't comply with some arbitrary measurement of "conservation" or even worse, a government definition (see "healthy" as defined by the US Govt - a 5'10" male should be 145lbs. That is just sickly!)
Ironically, most of the purported benefits of IoT go away when you anonymize the info for privacy purposes.
We should always strive to innovate and find better ways of doing things - but not when the solution causes or creates more issues than the original problem.