A vast network of interrelated sensors,
actuators, physical objects, services, and other internet-powered devices
produce voluminous data every day. These connected ‘things’ are self-sufficient
to transfer this data on their own.
With such ever increasing connected devices, the Internet of Things (IoT) will keep producing treasure trove of Big Data that holds potential to provide insights for enterprises. The real challenge here lies not in collecting data, but in analysing the humongous amount of generated data that is of no use unless there is a way to understand it. This is where Artificial Intelligence (AI) comes to the rescue.
AI helps in bringing sense out of that
limitless and mountainous amount of data by acting as a catalyst for informed
decision-making. Both IoT and AI are changing business landscapes with
automated, intelligent and efficient practices; however, companies need to
combine both these technologies to realise the full potential of this
technological advancement cited as the fourth industrial revolution by industry
According to Gartner’s forecast, there would
be more than 20 billion connected things by 2020. Other reports estimate the
healthcare IoT alone to be worth $117b by 2020.  The data produced by IoT and processed through AI
can lead to a variety of benefits to both companies and consumers in the form
of personalised experiences, proactive intervention and intelligent automation.
instance, Pandora using predictive intelligence to determine what other songs
you may like based on your prior song list or Amazon suggesting you other
similar books and movies learning from your previous choices. Wearable device
market is already a burgeoning industry and soon these devices will be
connected to the internet, which will provide real-time updates to health
services so that doctors will be able to get real-time insights into information
from biochips and pacemakers. This will help create truly smart homes with
connected appliances and provide critical communication between self-driving
merger of IoT and AI enables business to find ways for connected devices to
work together and make these systems easier to use. This in turn would lead to
higher adoption rates, which inevitably demand improvised speed, accuracy and
data analysis by AI in order for IoT to function at its full potential. As
rapid expansion of IoT continues, the sheer volume of data created will hold
extremely valuable insights into business risks and opportunities by analysing
what is working and what is not with the help of associations and correlations
is clear that IoT is quite impressive though realisation of it depends on being
able to gain the insights hidden in the vast amount of growing seas of data.
Without a good AI system, this goal would be difficult to reach and hence both
IoT and AI need to reach the same level of development in order to function to
its fullest potential. Since current approaches do not scale to IoT volumes,
the future realisation of IoT’s promise is dependent on AI to find patterns,
correlations and anomalies that have the potential to improve business decision
making as well our lives.
integrating AI into IoT network is a prerequisite for success and businesses
must make use of it to allow machines point out where the opportunities are and
drive value from the integration.