David Cameron, the British Prime Minister, has committed more funding towards to the Internet of things, which is a concept that involves having sensors which connect to the Internet in almost everything.

Cameron announced earlier today (March 10) that he would be committing £45 million, or over $62 million USD, to the Internet of things research. There is also a £1 million European grant towards any start up business in that area as well.

“I see the Internet of things as a huge transformative development — a way of boosting productivity, of keeping us healthier, making transport more efficient, reducing energy needs, tackling climate change. … [It] has enormous potential to change our lives,” Cameron is supposed to say in Hannover, Germany, during CeBIT 2014, according to his office.

It isn’t just governments who are getting involved with the Internet of things idea. Companies like Microsoft, Intel, Salesforce.com, AT&T and Cisco are also investing in this area as well.

[via Venture Beat]