Introduction: Convergence of Internet of Things and Artificial Intelligence
If you are a technology enthusiast or have a vague idea of what’s going in the world of technology, then you must be familiar with the popularity of artificial intelligence (AI) and the internet of things (IoT). There is no doubt that these two are individually powerful entities that have not only shaken the industries with their capabilities but have been performing as technological boons ever since. But what happens when these two technologies are clubbed together and become an exciting collaboration named Artificial Intelligence of things (AIoT)?
Speaking of what AIoT is, it is a new generation process of converging the source of intelligence received from artificial intelligence and making inter-device connections with the help of the internet of things. It is paving its way to being one of the most popular technical solutions for data analytics and processing. It is in the nature of IoT to aggregate things, particularly devices, producing huge amounts of data. When AI comes into the mix, the data-hungry algorithms of AI churn the data and process it throughout, making the analysis and action parts of it highly efficient. Now that we have a basic idea of AIoT, it is time for us to know its benefits.
All the praise of AIoT would make no sense if you do not have a clear vision of its benefits. So, we have listed out the major benefits of AIoT:
Increase in Efficiency:
There is a saying, “Time is Money,” and these are the two factors that can drastically increase or decrease your efficiency. The employers of any company need to use their employee’s time as effectively and efficiently as possible. This will not only yield positive outcomes but also result in increased revenue. This is possible with the help of AIoT. Let us discuss some examples to prove this point. Preventive maintenance is a benefit of AIoT, which helps the maintenance team to recognize parts of any machinery that is not working correctly or even predict malfunction in advance. This saves the expenditure of replacing the entire machine and keeps the activities running smoothly, hence increasing efficiency.
Increase in Safety:
Safety is a very important factor while running any business, as any small mishap due to careless behaviour can lead to huge losses. AIoT helps to boost safety in several ways. One example of this could be employing computer vision to monitor personnel on a production floor or using virtual or augmented reality in dangerous circumstances. This application of artificial vision can be used to get real-time alerts of drivers while driving any vehicle. It provides alerts to prevent accidents in cases like the driver falling asleep behind the wheel.
Better Customer Experience:
It is very important for companies to look for ways to improve their customer service in any customer-centric business, and AIoT could be of great help in this area. For example, in any shopping mall or store, there are surveillance cameras used to understand their customers' shopping patterns and other information like which aisle is getting more sales and which is not getting any customer visits. This way, they can plan accordingly and make the shopping experience more personalized for their targeted customers.
Smart Business Decisions:
IoT devices collect huge amounts of data every day, making it difficult for personnel to differentiate between important and unimportant information. AI-based algorithms are used to remove trash data and utilize any business strategy in order to organize this unstructured data into a meaningful chunk of data. Chief technology officers (CTOs) and other decision-makers may now make sound business decisions based on the important insights gleaned from this data.
AIoT is used in many sectors in real life. Let us learn about a few of them.
Many companies are coming with smartwatches that monitor the users' heart health, activities, blood pressure, etc. These are created with the concept of AIoT. These have revolutionized the healthcare industry and made people more aware of their health. IoT facilitates the connection of many device kinds; on the other hand, AI turns the collected data into insights that can play an essential part in making users healthier.
Fleet vehicles are clusters of motor vehicles owned or leased by the Government or any private company. AIoT is used for the tracking, management, and maintenance of fleet vehicles. This set of use cases was created by combining GPS, additional sensors, and an AI system. An example of this is autonomous vehicles, which utilize sonars, radars, cameras, and GPS to collect data on driving conditions and then use AI to make choices based on IoT's data.
Use of Drones:
Drones are trendy devices used worldwide for many purposes. When used to monitor vast regions, drones may assist in monitoring traffic in real-time and make changes in the flow of traffic. AI may be used to evaluate data and then make choices on reducing traffic congestion by adjusting speed limits and traffic light timing - all without the need for human intervention. Drones are also used to deliver products to consumers, usually in the eCommerce and food delivery sectors. There are other fields that are ready for exploration for the use of drones as well.
It is no longer a fantasy to have houses that understand their owners and respond to their commands. With the help of AIoT, people are able to build smart homes with electronic devices that work with just one voice command. Infused with voice assistants and artificial intelligence that understands the user's behaviour and acts accordingly, like switching off lights after the user moves out of the room or automatically switching on electronic devices when required. Between 2020 and 2025, the AIoT-driven, smart home industry is expected to achieve a $246 billion valuation at a CAGR of more than 25%.
So, it is fitting to say that the combination of artificial intelligence and IoT has been revolutionizing many industries and has proven itself beneficial till now. Engineers and scientists are still working on AIoT to make improve it further and make it more convenient for the users. AIoT is a one-time investment that yields lifelong benefits.