The integration of AI and IoT enables smart devices and systems to assess data and make decisions, and act on that data without any interference of humans. This is where AIoT, an amalgamation of artificial intelligence and IoT, takes center stage, enabling data analytics to optimize a system and create higher performance and business insights.
AIoT assists companies to offer visibility from edge to cloud and adds intelligence to data management. According to reports, nearly 90 percent of enterprises using AI for IoT operations are undergoing a more significant and faster impact. AIoT is also helping data scientists and companies by giving them understanding and analyzing big data generated through IoT endpoints.
A recent survey conducted by SAS, Deloitte and Intel with help from IDC found that the most significant predictor in realizing value from IoT initiatives across an organization makes use of AI.
Currently, there are 7 billion internet of things devices across the world, as per the IDC report. And the global spend on this is predicted to worth from US$726 billion in 2019 to US$1.1 trillion in 2023. The research firm further predicted that the world will have nearly 40 billion IoT devices by 2025, which will raise significant concern over IoT connected systems vulnerable to cyberattacks.
AIoT Application Across Businesses
While integrating IoT and smart systems, it makes AIoT a powerful and vital tool for several applications. However, most AIoT applications are currently retail product-oriented and focused on the implementation of cognitive computing in consumer appliances. For instance, a camera system equipped with computer vision capabilities can leverage facial recognition to recognize customers when they walk through the door. The system amasses information about customers, such as their gender, product preferences, traffic flow and more.
It then evaluates the data to precisely detect consumer behavior in order to make decisions about store operations from marketing to product placement and other decisions. Additionally, smart home technology would also be considered a part of AIoT as smart appliances learn through human interaction and response.
The integration of AI and IoT (AIoT) can also be used in fleet management to assist monitor a fleet’s vehicles, lessen fuel costs, track vehicle maintenance, and spot perilous driver behavior. By making use of IoT devices like GPS and other sensors and an AI system, organizations can manage their fleet better thanks to AIoT.
The technology is also used with self-driving vehicles. In this regard, Tesla’s autopilot systems, for instance, which use radars, sonars, GPS, and cameras to glean data about driving conditions and then an AI system to make decisions about the data the internet of things devices are collecting.