It's a buzzword with an vision that can have a positive but also a negative outcome for our society.
For example: The nest thermostat learns your behavior and selects your favorite temperature depending the day of time, the ambient light, ... it learns with you - and actually helps to save you energy. The opposite is a "smart meter" forced on you by new regulations that isn't smart at all and doesn't help you to save energy but sends your power usage data (your private life data) in regular intervals over the net to the usual data collectors.
Another example: All Ford automobiles that come with the Sync board computer (2008-2015, Windows CE based) can be optionally set to do the following in the event of a crash (at the time when the airbags go off): use your phone connected via Bluetooth, set a call to the international emergency hotline, speak via the Nuance Text-To-Speech software an emergency text including your current position (car have an inbuilt GPS antenna) and open the microphone so that you can talk with the emergency hotline or at least they can hear the audio if you are unable to speak. On the otherside, some lobbies try to propose in the US/EU a new law where every car has to share its location and some other "metadata" in a short interval (as soon as you turn on your motor) to a central data collector - so that in the event of an accident they know where you are, as they say.
Decide yourself which version of the "Internet of Things" vision you want to have in your everyday life.