Students are required to write an academic report as per the format outlined in chapter 5 of the textbook. The report must follow the APA referencing style. Please note that the prescribed textbook uses APA referencing guidelines. See also the Referencing Style subsection below.The report is to be based on the following case study scenario about the Internet of Things.The Internet of Things (IoT) is a term that was invented by Kevin Ashton in 1999 to describe a system where the Internet is connected to the physical world via sensors. In the last decade the concept of IoT has expanded to refer to situations where physical devices, vehicles, buildings and machines are embedded with electronics, sensors and software that support network connectivity which allow these objects to collect and exchange data. The IoT has been made possible by the use of cloud computing and networks of data-collecting sensors. Examples of the IoT include the recent trend of smartphones and wearable data collection devices being connected to each other and to the Internet. People wear devices which track physical activity and sleep patterns. Using Bluetooth this data is then synced to an application on a smartphone. The application on the smartphone then sends the data to a central database stored in the Cloud. This database could contain data collected from thousands of individuals.The IoT has the potential to revolutionise how we live. Smart refrigerators could sense when you run out of groceries such as milk and cheese and create a shopping list for you. Sensors in the home could detect changes in the temperature and then turn on or turn off heaters and or air-conditioners to maintain a constant temperature. People with chronic illnesses could have sensors implanted that send data to a doctor who could then send back data to change the dose of medication being administered automatically by a medical device. There are also applications in business, in particular, manufacturing and production industries where sensors could detect low stock levels and reorder supplies or indicate when machines need to be repaired.However, IoT could also bring significant risks. The IoT relies of the sharing of data which means that it is essential to ensure the security of that data both when it is being sent between devices and when it is being stored in the Cloud. A computer hacker could potentially intercept sensitive data and use that against an individual or an organisation. Alternatively the data could be corrupted when it is sent between devices or from the device to the Cloud which could lead to harm to an individual or an organisation. You are the ICT manager of a small research and development company based in Melbourne. Your organisation is very interested in the potential applications of the IoT and the Chief Executive Officer (CEO) has asked you to research potential IoT applications that could be developed by your organisation. He is interested in finding at least two new IoT applications that your organisation could develop in the next five years. It is essential for the organisation’s survival that these new IoT applications have commercial potential both locally and globally. The CEO is also concerned about any possible negative impacts on your organisation. Hence your report should discuss data security and privacy issues for each potential IoT application. You are to write a report to be presented at the next executive meeting. The report should address the following tasks:1. What are IoTs and how are they currently being used? You should explore a range of applications of IoT, for example, in areas such as healthcare, manufacturing and production. 2. Discuss at least two potential IoT applications that could be developed by your organisation in the next five years. You should explore ways that those two IoT applications could be used to provide opportunities to expand your business both locally and globally. Analyse potential options that could lead to recommendations at the end of your report.3. Assess the advantages and disadvantages of IoTs. Consider the current IoT applications and the two potential IoT applications to be developed by your organisation (see tasks 1 and 2 above). Explore the ethical, social and legal considerations, and the potential positive and negative impacts your organisation should consider. These should lead to some recommendations at the end of your report. Your report should conclude with a list of recommendations for your organisation with respect to the two potential IoT applications and the current and future use of IoT applications. Make sure that the specific recommendations at the end of your report have been evaluated as a part of your report discussion.