Microcontroller (MCU) with built in WiFi, the IoT is subject about connecting devices to the internet so that they can send/receive data, accept commands remotely through web pages or cloud applications. For example, one can turn on Air conditioning units remotely using a smartphone app, or a doctor can receive bio health information for his patient on his smartphone.
In order to achieve that the following components are required
There are also Microchips that are Microcontrollers as well as WiFi adapters. Here are some examples.
CPU with integrated Wi-Fi for small footprint non-Linux platform.
CPU with integrated Wi-Fi for embedded Linux.
References
MCU with built in WiFi Wikipedia(Text) CC BY-SA