There are more than over 20 billion linked gadgets in the globe, out of which over 9 billion of these are “internet of things” (IoT) devices, according to IoT Analytics.
The Internet of Things is a collection of sensors, gadgets, and other technologies that aren’t designed to connect directly with users, such as phones or computers. Rather, IoT devices help link a world of physical devices to one other and the internet by providing information, control, and analytics. IoT devices are becoming more common as inexpensive sensors and low-cost connections become available.
The confluence of AI (Artificial Intelligence) with the Internet of Things (IoT) has the potential to reshape the way industries, businesses, and economies operate.
Combining these two streams help both ordinary people and experts. While IoT is concerned with devices communicating with each other via the internet, AI is concerned with devices learning from their data and experience.
Integrating AI to the Internet of Things
Artificial intelligence is becoming more prevalent in Internet of Things (IoT) applications and deployments. Over the last two years, both investments and acquisitions in companies that combine AI and IoT have increased.
The capacity of AI to rapidly extract insights from data is its usefulness in this setting. Machine learning is an AI technique that allows smart sensors and gadgets to automatically recognise patterns and detect abnormalities in data such as temperature, pressure, humidity, air quality, vibration, and sound. Machine learning methods can generate operational predictions up to 20 times faster and with better accuracy than conventional business intelligence tools, which typically watch for numeric thresholds to be passed.
Majority of companies started using AI and IoT into their operations and products. IoT and AI are the most widely used technologies today.
Benefits of AI-enabled IoT
- Development of Customer Relations
The benefits of combining AI and IoT aren’t limited to workers; with proper implementation, they may also assist consumers have better experiences. These new technologies are being used by businesses to collect huge data on their customers in real time. Businesses may create goods and services that best meets the requirements of their customers using the data and technology available today. Both AI and the Internet of Things play important roles in this process.
- Improved risk management
A range of IoT-AI applications are assisting businesses in better understanding and predicting a variety of hazards, as well as automating for fast reaction, allowing them to better manage worker safety, financial loss, and cyber threats.
Detecting fraudulent behaviour at bank ATMs, predicting auto driver insurance premiums based on driving patterns, identifying potentially hazardous stress conditions for factory workers, and monitoring law enforcement surveillance data to identify likely crime scenes ahead of time are just a few of the applications that have already been implemented.
- Improved operating efficiency
AI-enabled IoT may also aid in the improvement of operational efficiency. By processing continuous streams of data to discover patterns unseen to the human eye and not evident on basic gauges, machine learning can anticipate operational conditions and identify parameters that may be changed on the fly to maintain optimal results.
- Extremely safe and secure
The use of AI and IoT together may provide an additional layer of protection. Risks in the workplace are reduced as a result of the combination. Enterprises can anticipate future security threats and automate an instant reaction by combining machine learning with machine-to-machine communication.
Many applications that combine IoT with AI can assist companies in predicting and effectively managing a range of risks and hazards, including worker safety, cyber-attacks, financial losses, and so on.
- New and improved products and services are available
Using AI to improve IoT may also result in the creation of new goods and services. Natural language processing (NLP) is improving all the time, allowing humans to communicate with machines without the need for a human operator. Drones and robots controlled by artificial intelligence (AI), which can go where people can’t, open up whole new possibilities for monitoring and inspection that didn’t exist previously.
AI and IoT in Action Examples
- The best example of IoT and AI working together is Tesla’s self-driving automobiles. Self-driving automobiles use artificial intelligence to predict pedestrian and card behaviour in a variety of situations. They can, for example, identify road conditions, ideal speed, and weather, and they are becoming wiser with each journey.
- Nest’s smart thermostat is an excellent example of AI-enabled IoT. Based on the users’ work schedules and temperature preferences, the smartphone integration may check and regulate the temperature from anywhere.
- With its first commercially successful robot vacuum in 2002, iRobot established the industry standard. The firm, which was founded by an MIT roboticist, has created technology that allows its puck-shaped vacuum robots to map and “remember” a house layout, adjust to changing surfaces or new objects, clean a space with the most efficient movement pattern, and dock to recharge their batteries.
It may become harder to find an IoT solution that does not incorporate AI shortly. AI will assist “all successful” IoT efforts by the next two years, according to the International Data Corp., and data from installations would have “less value” without AI. If your business has plans to deploy IoT-based solutions, AI should most likely be included in those plans as well.