The Internet of Things (IoT) is a technology assisting us in reimagining daily living, but artificial intelligence (AI) is the real motivation behind the IoT’s complete potential.
Be its basic app for tracking our fitness levels to its wide-reaching potential across industries and urban planning. When two technologies meet, AI and IoT mean that a smarter future could happen earlier than we imagine.
AI + IoT = Global Force of Innovation
The Internet is used by IoT devices to interact, collect and exchange information about our online activities. Daily, they create 1 billion GB of data.
By 2025, there are predicted to be 42 billion IoT-connected devices globally. It’s only expected that as these device numbers increase, the swaths of data will too. That’s where AI comes into the picture—lending its learning capabilities to IoT’s connectivity.
Three vital emerging technologies empower the IoT:
Artificial Intelligence (AI): Programmable functions and systems allow devices to read, design, and method information like humans.
5G Networks: High-speed fifth-generation mobile networks, the near-zero interval for real-time data processing.
Big Data: With numerous internet-connected sources, data is processed in huge volumes.
Collectively, these interconnected devices change how we communicate with our devices at home and work, building the AIoT (“Artificial Intelligence of Things”) in the method.
The Major AIoT Parts
So, where are AI and the IoT managed together?
There are four major parts in which the AIoT is making an influence: wearables, smart parking, smart city, and smart industry:
Wearable devices such as smartwatches continuously monitor and track user preferences and habits. This led to impactful applications in the health-tech domain; it also goes great for sports and fitness. As per Gartner’s recent research, the global wearable device market is predicted to see more than $87 billion in revenue by 2023.
As more and more people gather from farms to residential areas, cities develop into reliable, more comfortable places to live. Smart city innovations keep speed, with investments enhancing public security, carrier, and energy productivity. Already the practical applications of AI in traffic control are becoming apparent. In many cities, an Intelligent Transport Management System is used in the home to some of the world’s most traffic-congested roads to get ‘real-time dynamic decisions on traffic issues.
Homes that counter to your every question are no longer limited to science fiction. Smart homes can grasp devices, lighting, electronic devices, and more, learning a homeowner’s rules and improving electronic “support.”
This seamless way also produces additional perks of enhanced energy efficiency. Consequently, the smart home market could see a combined yearly growth rate (CAGR) of 25% between 2020-2025, to reach $246 billion.
Last but not least, digital transformation is used by industries ranging from manufacturing to mining to improve efficiency and reduce human error.
Smart devices help avoid costly mistakes in the industry, from real-time data processing to supply-chain sensors. Gartner predicts that by 2022, over 80% of enterprise IoT projects will implement AI.