The exciting union of Artificial Intelligence-Driven Internet of Thing(AI-IoT) is already on its mark. Incorporating AI into the business will help the business process to overall enhance the performance and gain a competitive edge.
In this heavily connected world, though AI and IoT are important independently, the combination has a wide possibility of helping the businesses reap greater insights from the large volumes of data generated by many IoT applications, sensors, and devices. We are only at our baby steps towards this union and realizing the potential extent of its impact.
AI and IoT are natural complements to each other. According to the prediction made by Gartner, by 2022 AI components will be incorporated into more than 80% of IoT projects which is a huge rise from the mere 10% of today’s’. In the wake of this pandemic, we can see many compelling use cases of AIoT. From the manufacturing sector to retail to the health care sector a wide variety of industries and businesses are transforming the way they leverage the wealth of data they have on hand. When we incorporate AI into IoT, it simply means that there is no need for human involvement to analyze the data and for decision makings. They become smart in every aspect.
However, just like a coin has two sides, in this case despite the infinite advantages there are many complexities associated with this union, such as security, implementation, and infrastructure challenges, which need to be addressed at the very first to harness AI-IoT’s full potential.
The true value of IoT can only be experienced when it is combined with AI and Analytics. According to a recent report, nearly 3 in 4 respondents said the combined value of AI and IoT capabilities exceeded their expectations.
Some of the steps which need to be ensured as we continue to explore the potential of AIoT are choosing the right technology, Ensuring fast and reliable network connectivity, integrating data for optimal efficiency, managing security threats, taking a holistic approach. However, despite the wide range of success AI-IoT brings into action, it also heavily depends on the right expertise and skills. This means an organization needs to train the employee with specialized knowledge to effectively manage the whole network to run the AI algorithms. AI-IoT does possess a high risk if a sufficient amount of a fully equipped team is not there to back up.
