AT&T executive says Internet of Things is a top priority

A man uses his phone outside the AT&T store in New York's Times Square, June 17, 2015. REUTERS/Brendan McDermid/Files

HANOVER, Germany: US telecoms provider AT&T is betting it can carve out a significant business in connecting objects with one another, the head of that unit told Reuters in an interview, as it seeks new revenue sources in an oversaturated wireless market. 

The so-called Internet of Things (IoT) is a fast-growing area where industrial and consumer firms and software providers are teaming up to offer smarter ways of doing things such as predicting mechanical problems before they arise, controlling machines at home remotely or integrating municipal services.