Powerful Data Analytics - Combining IoT & AI
This era of technology has introduced us to many new concepts, and two of the most popular ones are AI and IoT.
According to a recent estimate by IDC, worldwide technology is expected to spend around $1.2 Trillion on the Internet of Things in 2022
So what are these concepts exactly?
Well, the Internet of Things (IoT) refers to interrelated digital machines that hold the ability to transfer data over networks without human-computer or human-human interaction. At the same time, Artificial Intelligence (AI) is the intelligence demonstrated by these machines. So what would happen if we merge these concepts? AI+IoT equalizes a whole new array of opportunities which would form the basis of our future technologies.
In this article, we discuss how AI-powered IoT can be beneficial for our futuristic technology.
Enhanced Risk Management:
For companies, the revolution of IoT may have come around with new risk exposures along with the new potential of these technologies. When harnessed with Artificial Intelligence, IoT works on risk management processes that are being optimized and set above the traditional ones. The combination of IoT and AI is helping in the development of several applications that can help organizations in predicting risks and automating rapid responses for such scenarios.
To begin with, companies can use AI-powered IoT to avoid unplanned downtime. It can be done by using analytics and predicting any equipment's failure ahead of time to be able to schedule appropriate maintenance procedures, which can help in mitigating the additional costs of unplanned downtimes.
Smart Home Appliances:
Solutions such as Smart Thermostat offers an exciting new comfort with its smartphone integration option. Users can control their home's temperature from anywhere, which is very simple to use. From the AI perspective, machines like these, learn regular temperature preferences of the user and adapt to their schedule to turn up or down for minimal energy consumption. Smart Thermostat is just one application, and we also have self-driving vehicles and automated vacuum cleaners, which all work for the same principle (i.e. Significantly lesser energy usage and cost reduction along with user comfort).
Greater Operational Efficiency:
The blend of AI and IoT brings out accurate predictions for the operational conditions of any organization. You can detect the parameters which require modification to ensure the best outcomes from your company's operational functions. The intelligent IoT offers efficiency and accuracy for all those time consuming, redundant processes through insights that help you in decision-making processes.
The Azure IoT Hub itself is a great example where the company offers bi-directional communication between intelligent devices and Azure.
...and this is just a sneak peek into the power of this combination. AI and IoT's blend is the magic formula that can accelerate technological revolution to a million times more. We, at AI of the Tiger, strive to build intelligent IoT-based on futuristic technology. The possibilities here are virtually endless, and we aim to make the best of these just for you!