Will IoT Require Artificial Intelligence To Succeed?
Even if you are from the non-technical world, these things make sense.
No, don’t get us wrong, everything is either in a way related to technology, but here, we are trying to convey something different with the help of this write-up.
Okay, put this aside; are you a fan of PUBG, PlayerUnknown’s Battleground game? How many times did you play it? Countless, we guess.
PUBG joined hands with Minkonet to implement a 3D replay feature which captured a lot of traction of players and it has been used more than nine million times each day, according to this TechCrunch post. Now, you may wonder why this? This is because Minkonet is working on leveraging Artificial Intelligence (AI) to automate the process of creating reels and building anti-cheating AI algorithm.
Artificial Intelligence is a way of demonstrating intelligence, not human’s intelligence but machine’s. It is sometimes called machine intelligence that can produce human-like intelligent agents to perform the tasks.
In 2018, the global AI market is expected to be worth approximately 7,35 billion US dollars, according to one Statista report.
Likewise, not to our surprise, IoT has also captured the attention of the people, again, technical and non-technical, too. It fascinates many people and makes them thinking towards the future concepts like IoT-driven households (in our language, smart homes), and many another industry-specific scenario.
There will be 30 billion IoT devices by 2020.
The global market value of IoT is estimated to reach $1.7 trillion by 2020.
That simply means the growth of both the technologies, IoT and Artificial Intelligence will impact the majority of the transactions, behaviors, and structures. So, why we are discussing AI and IoT?
Do you really need to know these tech concepts?
Yes, because these technologies will change the landscape of industry with an automated, intelligent, and efficient practices.
No, we are not going to discuss the advantages and disadvantages of each, stay calm, read further because it will definitely make you think towards the combination of AI and IoT, at least.
Let’s dive in:
What Can AI (Artificial Intelligence) Do?
- AI algorithms can learn themselves
- Understanding human speech
- Optical character recognition
- Intelligent routing in computer networks
- Drive cars
- Speech recognition, facial recognition, and object recognition
- Natural language processing
- Make machine works in an intelligent manner
Where Can AI Be Used?
- Military and defense
- Finance and economics
- Automotive industry
- Gaming industry
What Do We Know From The Term ‘Smart Homes’? Is It ‘Internet Of Things (IoT)?
You heard it right but there are more applications of IoT which can be leveraged to automate the entire industries, for instance, manufacturing, infrastructure, environmental monitoring, medical and healthcare, home automation, energy management, agriculture, and so on.
What Is IoT?
In the simplest terms, IoT is when you connect your appliances, vehicles, equipment, infrastructure, and machinery with software, sensors, electronic systems, and actuators to exchange data.
IoT forms a connected environment in order to collect or exchange data and then data will be converted into value using artificial intelligence, machine learning, or analytics. If we talk about the present situation, IoT is being used in wearables, transportations, commercial buildings, agriculture, smart cities, homes, and widely in manufacturing.
Vodafone has published the complete report on the Internet of Things (2017/18) and here is the glimpse of some exciting figures:
- 74% agree that digital transformation can’t be possible without IoT.
- 84% of businesses — large and small started adopting IoT and it is growing.
- 95% of adopters are achieving tangible benefits by deploying IoT in their organizations.
- 53% of adopters report a significant increase in ROI from IoT in 2017.
- 67% believe that IoT projects are mission-critical to their businesses.
82% of adopters agree that “IoT isn’t a standalone technology; it’s connected to analytics, AI (Artificial Intelligence), and other cognitive digital solutions.”
And that’s where the core of article hides: a combination of IoT and AI.
Before we go into details of this revolutionary combination of technologies, have a look at some AI-powered IoT startups.
Can AI-Enabled IoT Make Your Life Easier?
It can but there are real-world problems and limitations that can lessen the power of AI or IoT.
There are technical constraints, cultural obstacles, lack of proper implementation, unclear scopes of technologies, organizational barriers, the inability of machines to solve several problems, and other philosophical questions related to the model of these technologies.
There’s more to discuss on the problems, but despite having real-world challenges to be solved, the world is moving towards automation and artificial intelligence.
Why Only IoT Won’t Work?
About 1.7 megabytes of data will be generated every second for every person on this earth by 2020.
And surprising fact is 99.5 percent of that digital data is never evaluated.
Yes, now what? The data volume and complexity are growing day-by-day and this is where Artificial Intelligence needs to play an important role.
The major reason why AI is having the potential to boost IoT-driven initiatives is its ability to pick insights from the huge amount of data. And that does make sense in this data-driven world.
It provides recommendations, insights, predictions, and solution: AI can analyze huge chunks of data in minutes and generate meaningful results.
Real-time and rapid response: In order to decide future course-of-action, AI enables real-time processing and response when connected with IoT devices.
How Can Businesses Leverage The Combination Of AI And IoT?
Here are some points to consider:
- AI and IoT can create more adaptive learning and analytical systems that help business to collect insights
- It facilitates synchronization, communication, and integration in a better way
- It informs businesses about proactive actions needed to be taken in order to keep up with the changes
- The AI-enabled IoT systems are intelligent, self-learning, and capable of establishing highly cognitive enterprises
- Automates the processes across the organization and setup highly-collaborative atmosphere
- Boost the productivity, performance, and maintenance activities
Large-scale organizations across the world are already embracing this synergy to take their businesses a notch higher. Additionally, AI will have a profound impact on how people are hired at work and what skills they possess in order to yield a better result in this machine-driven automated work environment.
The AI becomes prerequisite for IoT as we can’t do anything only with machine-generated data. There should be a mechanism for analyzing, collecting, manipulating, and generating insights from an enormous amount of data at a high speed.
It is all about how our system works intelligently.
In order to activate a new set of capabilities and functions in your organization that can become secret of success, you must consider both these technologies equally.
We are here to provide necessary insights that really, really can take your business to the next level provided effective implementation of the digital ecosystem. If you are as much interested as us to make your business grow, we are happy to be of your assistance!
No, we don’t do just that. If you have any groundbreaking idea to leverage IoT and AI, you can tell us and leverage our expertise as a startup technology partner. There are many well-funded AI startups that use machine learning to automate data processing needs. Startups are leveraging this combination to redefine how individuals think about the process, execution, and its result. Share your idea with us on spec-india.com, get a quote and see how we can help right from the product conceptualization to the end-to-end deployment and support.
Enjoyed? Stay tuned for more.