AIoT: Is Convergence Of Artificial Intelligence And IoT The Next Big Thing?
Artificial Intelligence (AI) and the Internet of Things (IoT) are already taking the present-day world by storm, as they simplify our lives and let people live a quality life. These technologies are already moving into the mainstream, as the Gartner report stated that more than 80% of IoT projects would possess the AI component by 2022.
But, what is AIoT, and how are businesses leveraging its power? Read on to find more about this trending tech-term.
AIoT: The Insightful Concept
AIoT means the ‘artificial intelligence of the devices’. In this trending technology, the devices connect with the internet to gather the relative data, and artificial intelligence analyzes these data patterns to act accordingly. So, the smart devices, using the intelligence patterns, learn from the usage and automatically carry out the expected decisions and work.
Moreover, AIoT does everything without any human interference. Although the amalgamation of both these technologies is not yet used in every industry, many industrial sectors like gaming, healthcare, retail, manufacturing, supply chain, etc., are using IoT and AI technologies. Like, by using these technologies, you can enjoy playing online slots at any of the reputed casinos. The new-age slot games come with VR and AI-enabled features that can even be used via smart devices. It shows that AI and IoT convergence is going to drive the AIoT to its fullest potential.
How Does AIoT Work?
IoT consists of a bunch of sensors that sends and receives data over the internet. Receiving and sending the data will not add value to any business until the data patterns are analyzed and brought into force. This is where AI proves helpful and enhances the productivity and efficiency of every business. So, here is how the AIoT works:
- The data is communicated over the internet through networks
- The data is created with the help of the sensors
- Data received is aggregated at a central place.
- Further, data is analyzed for getting meaningful insights
- The firms and industries can take the decisions or create action plans based on these data insights.
AIoT is connected through an end-to-end ecosystem that starts from data gathering to taking suitable actions. The data collected through AIoT will help us with:
- Identifying and reducing the possible failure points
- It will help in predicting the risk and mitigating the risk at the earliest
- The industries will get hands-on real-time data, and it can be processed to receive meaningful metrics.
- The organization’s process gets streamlined, and by applying AIoT, the operational efficiency can be increased manifold.
- The businesses can offer new products/services that can cater to customer needs and increase industrial revenue.
AIoT’s Practical Application
The Global Logistics Company DHL is all set to build 10,000 IoT-based truck vehicles by 2028. The Company stated that the use of IoT and AI or AIoT had helped them reduce 50% of their transit time, and 90% of real-time tracking reliability is being shown. The Company’s Smart Trucking Operation uses the agile business model where the fatigue is reduced among the drivers, helps them spend less time on the road, and can get a better work-life balance. Moreover, the popular retail chain Walmart, London City Airport, etc., have also stepped into the AIoT sector.
These figures, working, and benefits of the AIoT show that this is the future technology. It will stay for many years to come, as it will make the work culture seamless and efficient by presenting the data in real-time. Yes, yes, AIoT is the next big thing we can see to increase the industries’ accuracy and effectiveness.
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