How AI can unleash the Power of IoT?
We can say, IoT is a digital nervous system and AI is the brain of a system. They both work in sync to bring opportunities that humans can’t think and work for. Both these technologies combine together to monitor and perform functions that didn’t exist before.
Artificial Intelligence unleashes the power of the Internet of Things so that the devices can analyze the data and act on the data without any human efforts. Through the intelligence of AIoT, we can tweak the system in a better way to generate better performance & results.
But why we need AIoT (AI and IoT)?
The simple answer would be, the IoT systems can react to any action but AIoT can react and predict the risk and failure of the system with the help of Artificial intelligence (AI).
Benefits of including AIoT in your business:
It offers reduced risk management.
Improving operational efficiency.
True automation of manual tasks.
Reduced Cost of system breakdown.
With the smart systems, drone traffic monitoring, fleet management, and Autonomous vehicles, AIoT is playing smart roles to increase operational efficiency, spawn new products and services, and enhance risk management in the various industries.
Top 3 areas where AI and IoT make Unstoppable Growth
Internet of things and Artificial intelligence has been the powerful technologies in the technology revolution. But, the fusion of these two technologies has a lot to offer. Below are some of the sectors where these technologies together (AI with IoT) have fueled the ease in life and overall profitability.
Smart Home: The lights, fans, and cleaning appliances that work on your command are not restricted to science fiction books. They exist in your home now. There are AIoT devices that can detect the person and adjust the lights and temperature accordingly. From 2020 to 2025, if AI and IoT go hand in hand for more smart home devices, then this could lead to the compound annual growth rate (CAGR) of 25% and the smart home market could reach $246 billion.
Smart City: Public safety, transport, and energy efficiency, these things are getting smarter with the help of AIoT devices. For example, the system made of AIoT can efficiently determine real-time dynamic decisions on traffic flows for smooth transport. The AIoT systems can detect accidents, illegal parking, and can change traffic lights. Basically, they are helping to build smart cities where living is safe and convenient in the coming years.
Smart Industry: AIoT playing a crucial role to improve human efficiency and cost in every industry such as retail, manufacturing, healthcare, and logistics, etc. For example, in the retail industry, AIoT (AI with IoT) systems are used in which cameras and sensors detect the details about customer preference behavior and nature. Using AI, based on this information, many retail stores can analyse the data to make wise decisions about marketing strategies and the placement of the products.
In smart industries, many organisations are also working to make smart workspaces. There are smart workplaces where the cameras are connected with the database. Through facial recognition technology, the system compares the real-time image captured by the camera with the database for attendance management.
Future Scope of AIoT:
The fusion of AI and IoT is pushing the boundaries to improve the human experience and business growth. AIoT will redefine the future of industrial automation. The combination of these technologies will help to save millions of dollars with its predictive maintenance. According to the studies, we are going to witness IoT systems that are empowered by AI with 5G data networks. These systems will accelerate the growth of every industry. Below are the 3 highlights of upcoming AIoT improvements.
Voice AI: Currently, we are experiencing smart speakers such as Alexa and Google Assistant. With the combined technology, we are awaiting E-Payment voice authentication.
Vision AI: In video AI, presently we have massive object detection with 4k resolution but with AIoT, we would experience video analytics and super 8k resolution.
Edge Computing: For now, we have a smart appliance and thermostats, with the evolution of AIoT, we are expecting home robots and autonomous vehicles.
AIoT is the technology that can redefine the way every industry function. We have seen a few examples of this technology adopted by some of the industries but the future has a lot to offer.
So, if you want to reinvent your business with AIoT technology then you can contact us. You can mail us your details and our team will get back to you with suitable solutions. Our experts will bring the AIoT systems for you that can change the way you work.
You can write to us at vasanth@fibonalabs.com