The goal of the Internet of Things began primarily to connect every object that is internet enabled and now it has steered the big interest amongst people and businesses globally. Because of it, the use of IoT devices has grown exponentially high at an incredible speed. The number of IoT connected devices is expected to be leveraged at 75.44 billion by 2025 according to the Statista Analysis report while at the same time IDC suggests that the actual market value for IoT is approximately $1.7 trillion presently in the 2020 year.
In addition, the global AI market is set to expand its presence and then grow up to $190.61 billion in 2025 according to Markets and Markets. These two powerful technologies are on better synchrony towards simplifying our lives and then increment the growth and rewards in our industries. The evolution of IoT technology has resulted to integrating smart features within our homes that might eventually make way for the development of smart cities in near future.
The multiple options for businesses to take advantage of either of the technologies do not certainly indulge any Mobile App Developers to treat them a union rather two distinct entities. However, the only way to deduce the full-fledged benefits of AI and IoT technologies is through making them intuitive partners. Hence, we have done the research on both the technologies and have the following suggestions that might transform your IoT Application Development Companies to operate efficiently.
IoT Data Acquisition outrage
We presently have a multitude of mobile devices that can be utilized in this data-driven world for connecting to the Internet and exchanging data faster. This has stimulated an outraged scenario of data generation with approximately around 1.7 megabytes of data being generated every second globally. However, only a meager quantity of data gets really evaluated by people accessing digital gadgets around the globe.
The latest of IoT Technology is essentially a powerful data generation machine that can innately connect devices and then accumulate a vast amount of data connected devices to transform the way you do business. IDC has predicted that in 2025 there will be nearly 80 billion connected IoT devices contributing together to account for 175 zettabytes of data generations. With this impressive growth in IoT data, a lot of businesses are opting for this IoT infrastructure when it comes to data generation and assigning new opportunities.
In dismal, there are only a few businesses that have office-centric processes collating IoT data and storing them for gaining the maximum potential in a business environment. Moreover, the IoT data is complex and growing on a routine basis which makes things really difficult for proper utilization of data against the vast accumulated IoT data. The use of Artificial Intelligence can greatly help businesses in identifying the significant IoT data and ensure to work productivity. It also infers that business may have to leave out the traditional methods and adapt to the latest AI Technology for finding the optimal value of IoT Data and thus improvise on performance metrics.
Finally, all that a business requires from IoT data is merely not to have connected devices but the reliable connectivity to unleash the potential of the business and go to the next level of operations. It becomes rather mandatory for IoT businesses to establish a partnership with AI Technology and then enhance the magnitude of connected devices for upgrading the network intelligence within business processes.
Convergence of AI and IoT
The primary functions of IoT are to have connected devices that generates IoT data and merging Artificial Intelligence would result in simulating intelligent behavior for a business to form the IoT Architecture and progress towards building a brand new world. In the results of this, IoT business should comply with having a reliable connected environment for to exchange data and register devices corresponding to their respective values utilizing machine learning and AI. Likewise, the convergence of AI and IoT should greatly impact some businesses.
The use of AI will help organizations gain the most practical insights from the loads of big data IoT. It will allow business to clearly analyse the best understandable IoT data and put them into practise in spite, of every decisions being made right or wrong the businesses can run swiftly through automated actions. The Machine Learning techniques of AI will allow predictions to be made within IoT devices at a high level of accuracy and further guide businesses with forecast decisions to avert risk. Definitely all the IoT Application Development Companies may have to strongly learn the deep relationships of AI and IoT technology in order to upgrade their work efficiency and instruct some of the most futuristic decisions.
The Industrial IoT business is fast including the power of ML predictions to learn about every problem that usually occurs during the manufacturing of products. The real reason for it is companies can now develop the predictive maintenance in all their industrial processes and thus save on time and money while increasing the safety measures. AI offers business the real-time processing capability with IoT connected devices and speeds up on industrial production stages absolutely without any maintenance cost or downtime.
The trends of people preferring to make their investments on AI-enabled IoT devices is growing every day along with the existence of connected devices getting more automated, there is only the last chance for businesses to mandate for human interventions. This kind of operation can be found transparent in a fitness tracker app that gathers IoT data and processes them automatically with the aid of artificial intelligence, totally eliminating the rigorous process of getting humans involved. It should also prevent every form of delays suffered in the process of receiving medical solutions especially at the bearing of fitness app user convenience.
The convergence of AI and IoT technologies is certainly bound to cause the industrial revolution and building a brand new world of IoT to complement your business performance and success equivalently. The use of software and hardware in your business will be having mutual importance for too closely partnering AI with IoT technology and increase the level of business automation. There will be a lot of progress in the way your business is done with an upscaling of memory, processors, sensors, IoT devices, etc.
Vigneshwaran works for a Digital Transformation Company named W2S Solutions where his job nature is Digital Marketing Officer. He ensures that all the marketing activities beginning from creation, communication to the deliverance of product offerings are carried out with brand values for all the clients and business partners globally.