It’s an expression that you’re likely familiar with, and will only hear more about — the Internet of Things. The term, vague as it is, is meant to describe the online connectivity of devices, appliances and other physical products that traditionally have no Internet connectivity.

But with the advancement of wireless chip technology, the idea that a refrigerator, for example, can share data about its contents with a grocery store smartphone app is no longer such an out-of-this-world idea. The …