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Everyone living in a major city is no stranger to the stress of parking. Depending on where you live, it can take as little as a few minutes or as much as an hour or more to find a proper parking spot. According to a recent study, drivers in the UK spend an average of 44 hours a year looking for parking spaces. Drivers in New York not surprisingly spend an average of 107 hours a year, which equals four and a half days, searching for that prime parking spot. 

Although the stress of parking is enough to drive anyone crazy, it also has negative economic effects. According to Cisco, 40% of drivers say they avoid driving into cities due to parking limitations. This decrease in a downtown population can cause businesses to suffer, and possibly even close, as seen in various areas throughout Britain. 

As cars began to gain popularty during the 1920s, you would expect that we would have found a solution to this problem by now. Perhaps, we finally have. Blockchain technology may be the next step in providing smarter parking solutions and by effect alleviating drivers’ stress.

Changing the Way We Park with Blockchain

Blockchain is much more than technology which brought forth bitcoin and other cryptocurrencies. It has found a variety of uses throughout industries. Banks, hospitals and multiple other sectors are beginning to use blockchain to revolutionize the way they do business. 

Blockchain is now being used to manage supply chains and logistics to streamline companies’ outdated paper-based systems. However, it is not only businesses that are benefitting from blockchain — soon drivers will be able to benefit as well. With its use of smart contracts and tokens, blockchain has the potential to automate many services which currently devour our time and hold us hostage behind a wheel. 

Besides its automated solutions, blockchain technology also has a variety of security perks attributed to its use of a decentralized digital ledger. There have been many developments regarding blockchain technology and smart parking, and multiple startups are working on new ways to reinvent the way we park.

Pairing the Internet of Things with Blockchain to Ease Our Stress

Three companies, NetObjex, Advantech, and PNI Sensor Corp. are currently working on a solution to improve the way we park with the Internet of Things (IoT) and blockchain. Each company offers services that when merged can provide parking automation like something out of a sci-fi movie.  

NetObjex blockchain services equip vehicles with crypto wallets to automate parking transactions. PNI Sensor Corp.’s PlacePod is an IoT-enabled smart sensor placed in parking spots to detect when they are taken. Advantech’s Parking Service System provides the hardware and cloud service for the entire program to operate. Merged together, these three services automate transactions, show vacant parking spots, and display directions for getting there. 

Reserve a Parking Space with PARKRES

Using a state-of-the-art sensory network which tracks and manages parking spots throughout a city PARKRES provides a parking reservation system aimed to reduce the time we spend in our cars. Customers of this system can pay for parking with cryptocurrencies or fiat through phone, auto payments, online, or through monthly subscriptions. 

With this service, the goal of the PARKRES team is to reduce carbon emissions and traffic congestion throughout cities around the globe. Ultimately, the service will utilize both IoT and blockchain in order to provide a real-time parking app to its users. This is just one of the many steps taken by companies to change the way we think about parking.

Cryptoparking Makes Parking a Breeze

Similar to PARKRES, Cryptoparking combines blockchain and IoT technologies to provide a solution to the global parking problem. Cryptoparking’s IoT-based smart parking management system utilizes cameras and sensors to find the closest and cheapest parking spot near the service users.

Revolutionizing Parking with Blockchain and IoT

Although relatively new, blockchain technology holds the key to providing solutions to many societal problems, making news around the world as a technology which could eventually change the way we live. No longer will drivers need to roam through streets searching for the optimal spot, no longer will they need to park blocks away from their intended destination. With blockchain and IoT technologies, the parking problems of today will eventually become a thing of the past. 

The only things holding this technology back is the lack of mass adoption as many are still hesitant to try it out. Yet as blockchain use cases continue to build, we can only hope that it will soon be adopted in order to finally rid drivers of the stress associated with parking in large cities. 

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IoT Gateways are becoming an essential part in various smart grids solutions, across Industrial, Residential, and Transmission & Distribution projects. Gateways help in addressing energy conservation at both the consumer and transmission level. Here, we will discuss some of the unique features of IoT gateways like clustering, interoperability, security, and others

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Over the next 25 years, the global energy consumption is estimated to soar by 40%, and unless we don’t stumble upon a vast coal mine, there is no way we can fulfil this requirement.

You may be thinking: “Renewable energy will do the job for us.”

Yes, renewable energy are paving the path for a more sustainable future, however, their mass adoption is still limited due to several barriers. They are highly dependent on natural occurrences, require a high capital investment, and are inflexible with traditional energy grids. It can’t be said with certainty when these limitless sources can be used to a full extent for our ever-growing electricity needs.

Till the time we overcome these barriers and adopt the renewables entirely, optimal and efficient utilization of non-energy resources is the only prominent option to stretch our days of existence with power supply.

Utilities are continually looking for a technological enabler that can help them optimize their processes and manage assets remotely. IoT is one such technology that is helping power generation companies to do so.

With its advanced telemetry and cognition capabilities, energy utilities can boost their energy transmission and distribution processes to facilitate the efficient flow of electricity and reduce energy wastage.

Let us see the ways with which IoT can help utilities for adequate electricity supply:

1)  Remote Asset Monitoring and Management:

This is primarily the most talked-about application of an IoT system. It allows energy companies to remotely manage their equipment; ranging from power generators to transmission lines. Sensors embedded on assets can measure parameters like temperature, vibration, pressure, wear, etc. that can be read by the utilities to identify the probable breakdown point.

This enable utilities to monitor the depreciation of their assets and govern the overall health of their power transmission and distribution architecture. By compiling the continuously stored data, insights and trends can also be generated to estimate the failure time. Subsequently, inspection and maintenance procedures can be scheduled to eliminate failures and reduce downtime.

Furthermore, by planning their repair and maintenance tasks as per IoT based real-time alert system, power generation companies can even reduce energy losses and enhance their operational efficiency. This helps them to optimize the consumption of their resources and facilitate the flow of electricity from power plants to consumers’ facilities in an efficient manner.

2)  Grid Balancing and Supply Rerouting/Restoring:

Smart Grids are a modern IoT variant of the existing power grids that include several energy measures and smart appliances like smart meters. Their implementation in the infrastructure of power distribution and transmission makes the flow of electricity from power plants to the end consumers more efficient and reliable.

However, there benefits far exceeds then simply supplying the electricity from one place to another. They allow utilities to lower operational costs and help customers to manage electricity consumption at home.

In terms of making the flow of electricity more efficient and promote optimum resource utilization, smart grids are the initial choice. As they work on a two-way interaction, they can effectively manage congestion on the power lines. They are even capable of ensuring the connection requirements of the generation stations such as frequency and voltage control to prevent instability.

Furthermore, the smart grids offer astounding electricity rerouting and restoring advantages. In case a transmission line breaks due to adverse weather conditions or voltage fluctuations, smart grids can find another route to transmit electricity to a locality. Other than facilitating a constant power supply, utilities can also use this feature of smart grids to identify causes that result in energy fluctuations. This empowers energy companies to reduce fluctuations that result in wire failure and hence boost their asset utilization efficiently.

Smart Grids also enable the indulgence of renewable energy resources. Let us see how:

3)  Renewable energy management:

As we discussed earlier, the IoT infuses two-way dialogue system in an existing electricity distribution channel. This means that instead of merely supplying power to the users and bill them once a month, the IoT system enables both the utilities and consumers to share information.

“In layman terms, even the end-users can now contribute to a smart grid.”

The most significant advantage of using smart grids is its ability to include renewable energy resources to an existing power grid. Thus, end consumers using solar panels to power their home appliances can discharge excess electricity into the power grid in exchange for money. Many countries like USA and India are providing subsidies to end consumers for creating a small-scale solar power station on their rooftops.

This is assisting in the mass adoption of renewable energy resources, which other than alleviating energy scarcity can also help in reducing the emission of greenhouse gases. Since smart grids act as a stable infrastructure to maintain voltage fluctuations, they can be used to manage the electricity flow from both renewable and conventional methods.

My Personal Opinion:

“As per marketsandmarkets, IoT in the energy market is expected to grow at a CAGR of 24.1% to reach a value of USD 22.34 billion by the end of 2020.”

This showcase the potential that IoT can offer to the vertical of electricity transmission and distribution. Its implementation has the power to facilitate our energy needs and reduce our consumption to a great extent. As per a study by environmental impact assessment (EIA), by effectively utilizing existing IoT technologies, the industries in the US have reduced their coal energy consumption for producing electricity by 14 to 22%.

Similarly, as smart consumers, we can also implement smart meters and IoT based energy monitoring solutions at our homes and facilities to monitor overall power consumption and manage needs accordingly.

This can be the initial step to enjoy limitless power. Let us contribute by joining the IoT revolution and make our homes & industries smart for a sustainable future.

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The real estate segment has been acknowledged as the most "behind in development" in multiple Forbes and TechCrunch reports. Mainly because of the fact that real estate investments, management and everything in between aren't very appealing to younger generations, a lot of companies and brokers still rely on a very traditional approach, made of direct marketing, face-to-face meetings and similar. With this in mind, though, there are several ones who refused to remain in an "old" era and embraced new pieces of technology. Let's analyse why IoT should be the pivotal one.

The Usage Of Data

Let's state the obvious: every real estate-related process is bulky and slow. From finance to paperwork, every small individual process could take ages to be finalised and this, for many, was the starting opening point for technology to proliferate within this sector. The usage of data, in the real estate sector, applies to IoT because it revolves around risk management for long term financial procedures: if someone is looking to invest £2 million in a property, for example, a long credit score check will be required, as well as cross-references to evaluate if the request isn't masked as what's known in the segment as a "ghost contractor". Big data, especially if coming from bank accounts and credit card companies, could speed up these processes massively, effectively connecting an extremely slow business segment to the IoT. The UK is very ahead in regards to this very matter, especially within the commercial property auctions segment, where companies are heavily relying on data to speed up the buying process.

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Architecture-Ready Applications

Has anyone of you ever used a dedicated software for any real estate task? From development to buying and investments, every piece of software has been designed and planned for professionals who know technical terms, therefore actually blocking "casual" users or junior professionals from approaching them. Having a data-driven, IoT-oriented architecture could heavily help in setting up budgeting for real estate management (having 12 properties and calculating individual fees isn't an easy job) or just to deal with clients, by letting it focus on the taxes/admin part whilst you do the "physical" management part.
Once again, the usage of big data and data points is quintessential for this very purpose, given the fact that it could simplify the way many different tasks are executed, effectively reducing their timescales.

To Conclude

Should the real estate sector approach IoT, data and data science? Definitely. Not only because of the above-mentioned reasons but also because of the fact that data-driven strategies are ahead of time: from 2020, in fact, we will definitely witness a massive growth of data and its applications in business (not just IoT).

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A network of physical objects interconnected through computing devices like machine appliances, digital devices, objects, vehicles and uses APIs (Application Programming Interfaces) and sensors to exchange data and connect with the internet is known as IoT or Internet of Things.

IoT platform connects the virtual and the real worlds. It helps the companies in managing IoT devices, connectivity, security, linking devices to back end system, collecting device data, building & running IoT apps as well as ensuring IoT interoperability.

According to a survey, approx. 75 billion devices will be IoT enabled by the end of the year 2025. 

Also, in the coming 5-6 years, the world will witness an investment of near $ 6 trillion on IoT out of which at least $ 3 trillion is expected to be invested in the health care industry for IoT.

And why not? The experts are also of the same viewpoint that by the end of the year 2020, approx. 90 % of the health care industry will adopt IoT. Generally speaking, IoT has already made its way to the homes of general people through Google, Amazon, Alexa, etc.

Almost all the IoT enabled devices to have:

  1. A device or a sensor;
  2. Data processing unit;
  3. A connecting unit;
  4. User interface.

Challenges Faced By The Health Care Industry

The health care industry faces constant challenges. No compromise is entertained when it comes to health. 

The number of deaths occurred due to delay in treatment or delay in the ambulance approaches, in the prevalence of road jam are recurring and very common.

However, these untimely deaths can be prevented by enabling IoT in house treatment in the health care industry. 

The devices that are capable of monitoring heart rate sleep cycle, energy expenditure can be helpful in the timely detection of the problems arising in the human body.

In other cases, the risk of infection post-surgery is a real threat to the life of the patient, and the result can be anything from a prolonged hospitalization to even death.

The other problems faced by the health care industry are health monitoring, timely detection of health problems, tiresome diagnostic techniques, inappropriate ambiance, inaccurate measurements, human error, etc.

Although health care is relatively slow as compared to financial or other industries in the incorporation of IoT devices, 40 % of health care is already using IoT. 

The slow growth is due to the following reason:

  1. The methods of health care go through rigorous tests.
  2. Security in health care is still a significant concern for the devices that are enabled with IoT.

Even the hurdle remains, yet the speed and connected health care are growing each day progressively.

Health care service providers need to innovate and plan for digital transformation and reach in those areas where there are not enough health care systems and professionals. 

The industry needs a reliable communication network partner to provide mobile and cloud connectivity. IoT App Development Company should take care of this issue.

Now the question arises as to how IoT Is Transforming the Health care Industry? Following are attributes and contribution in the health care industry:

In the coming years, IoT devices such as Coagulation testing and Activity trackers will adopt the world of connected things with a common platform from handheld devices to medical equipment as well as health records. The capability of IoT is inexhaustible for these devices. 

The potential to efficiently manage the health of the patient as well as monitor and track the problems is saving valuable seconds of the life of a patient, without having to visit the hospital.

With the help of IoT, the health experts can give a distant and remote diagnosis to the patient. Also, they can track medical assets that provide quality care instantly and manages health care efficiently. 

With the help of Wi-Fi and sensors, the ability to locate the correct section in a hospital has become easy for patients as well as health experts.

Almost all the health experts who have already adopted the IoT enabled services do believe in the crucial benefits of it. 

They think that the benefits will be to control and monitor sensors and medical devices from a patient’s heart monitor to his or her temperature gauges; the real-time data exist in health care. 

Further, patients and staff can securely manage IoT data by creating an effective as well as a safer environment through a standard application on mobile devices.

Perpetual Collaboration

Continuous collaboration amongst health experts and patients is imperative for health care organizations. By providing access to non-core data and applications to them whenever they need, will boost up the productivity level and will help in enhancing efficiency.

When it comes to diagnostic accuracy, WCE short for Wireless Capsule Endoscopy comes into the picture. 

The process involves the patient to swallow a small capsule camera that can record the patient’s internal organs. 

It has the potential to capture specific parts of the gastrointestinal tract that are not visible otherwise through diagnostic procedures. 

Also, it can detect bleeding in the gastrointestinal tract, which is not possible through traditional methods.

Maintenance of Cordial and Healthy Relationships

The health experts have to take special care to manage the risk by protecting the record of patients and other crucial data against external exploitations. 

This refers to ensuring the service continuity and no disruption in the event of a breach of trust. Many experts are saying that you can combine IoT with Android & iOS apps as well.

It will help you to reach out to more and more people and also make use of this wonderful trending technology.

A Flourishing Transformation

Hence, IoT is indeed a boon not only for health care but almost every industry that is capable of enabling its services through IoT. 

Its current pace of growth in health care is hopefully best for this domain. IoT health care means an efficient and more accessible patient care experience. 

It allows staff to do their work in a better way, and this is the reason why 80 % of health care experts forecast that IoT is going to transform the industry in a better way. 

With global network connectivity and infrastructure, it is high time for other health care providers to adapt and offer IoT enabled services to the patients nationally as well as internationally.

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Blockchain is an essential technological advancement, conceptualized in the year 2008. It has brought significant positive impact among many industries, including Banking, Real Estate, Healthcare, Education, Legal sector, and more. Through this article, we’ll understand the importance of blockchain technology and how it plays a vital role in revolutionizing the legal industry.

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Importance of Blockchain Technology

It is a challenging task for law enforcement authorities to keep track of historical records and maintain all the legal documents manually. Blockchain technology has great potential to disrupt the legal industry. It helps lawyers to record and manage various types of legal matters. The secure and transparent nature of this technology serves a wide range of ledger-based activities, including court records, legal opinions, UCC filings, and more. 

Let’s read-on following use cases to understand the impact of blockchain technology.

Smart Contracts

The legal industry is known for maintaining paper-based documentation work. Traditional contract systems are written with physical signatures, which require a significant amount of time to accomplish legal agreements. Manually written contracts are more prone to human-errors. 

Smart contracts provide a secure and efficient platform for storing and accessing legal information. Blockchain technology can make the legal documentation process more accessible and transparent, thereby leaving no space for disputes. Moreover, Smart contracts enable blockchain to create a decentralized and automated ledger to record all the contractual transactions. 

Intellectual Property (IP) Laws

Intellectual Property is undoubtedly one of the challenging fields of law practice. Matters such as Patents, copyrights, licensing, trademark law, are included in IP law practices. For instance: Copyright owners hold exclusive rights, and the commercial use of any copyrighted work without the permission of the owner is considered as an infringement.

Now imagine a bulk of such intellectual property (IP) to undergo manual administrative tasks and multiple reviews, which results in a time consuming and lengthy approval process. It involves the hassle of registering new IP, transfer ownership, and update filings. 

Blockchain technology drives efficient operations and enhanced collaboration by reducing the time spent on administrative tasks and maintaining IP records accuracy. It also helps to streamline the anticipated process for searching the intellectual property.

Chain of Custody

In the legal industry, it is pervasive that the duration of many cases lasts for many years. And for this, the ability to validate evidence and proper documentation is very crucial. During the investigation process, the evidence which was found in the initial stage of a case may come out to be essential in later stages. So, if the chain of custody is documented accurately and regularly, it becomes easier for the legal authorities to locate vital information. Chain of custody contains paper-based documentation that involves human intervention and is vulnerable to human errors. Moreover, maintaining a large scale of literature can become a very cumbersome practice.

Blockchain technology provides a platform to transform the chain of custody procedures and helps legal authorities to make quick decisions. A crime evidence collector collects the pieces of evidence and uploads the related information to the blockchain network. This information gets distributed across every node, thereby removing the possibility of a single point of failure. Blockchain possesses immutable and auditable characteristics that protect historical records from the threat of modification from anyone. Hence, it helps law enforcement authorities to access real-time files of the information from anywhere, at any time.

Property Management

Property management includes buying, selling, and renting real estate properties. The process involves signing a legal document for the ownership of the property or legal rights. As this field regards deeds, it contains tons of paper-work, ledgers, and more, and it has a relatively low rate of technological adoption. But the rise of Blockchain technology addresses such challenges by developing a system that can store data much more efficient and is lesser prone to tampering. It also helps to keep track of all the deed transfers to simplify the process for conveyances and liens. Automatic alert notifications from the system can even notify the registered property owner with events related to their property.

Notary Services

Notary services are essential for businesses, mortgages, and other payment settlement purposes. It provides two primary functions – authenticating document and signature certification via witness. Blockchain technology offers a unique digital identifier of independent timestamps for authenticating documents. The private and public keys identify the valid owner of the report. 

Benefits Of Adopting Blockchain In The Legal Industry

  • More Accessible: Legal Authorities can leverage blockchain technology to simplify and streamline their transactions and immutably store all the legal documents. It reduces a significant amount of time spent in preparing and maintain law documents by using smart contracts and automated contract management systems.
  • Higher Transparency: Blockchain uses Distributed ledger technology (DLT), which records the transactions of assets digitally, making it accessible to all the parties. Hence, it makes the legal industry more transparent, leaving no space for misinterpretation. 
  • Cost-Effective: Blockchain technology offers an automated system that has replaced numerous manual tasks. It significantly reduces the time spent in drafting and amending legal documents. The introduction of smart contracts has reduced the cost of transactions between the parties. Moreover, the decrease in overall expenses increases the overall accessibility and demand for legal services.

As blockchain technology is maturing, legal professionals will continue to explore how more complex transactions can be moved to this technology. Adoption of Blockchain technology in the legal industry is the need of an hour. There are a lot of legal software options available with different features, and it is very imperative to choose the right software for legal document management based on your organizational needs.

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What if your everyday devices like washing machines, lights, speakers, TVs, and cameras could communicate with you, send information to you and work on your commands even from distant places? With technologies like IoT and Artificial Intelligence, it is possible to digitize homes and make everyday devices smarter. Read on to find out how.

 
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Data Validation: Important Things to Know

Whenever there is data involved, data validation can’t be too far away. That much everyone knows, at least the ones involved in the ecosystem. You may be just gathering data, analyzing it, or processing it to glean insights from the said data; you will need to deal with data validation. But what its data validation exactly? Well, it refers to the process of verifying two key things: the quality and reliability of data. It ensures that though it is indeed complete, consistent, and not duplicated, it is done right before you import data and process it. Now that we know what it is let’s see why we need data validation.

Even though it is often ignored, data validation is what allows companies to make sure that they achieve the ideal result. Consider this: If the data you intend to use isn’t without error right from the start, the result of whatever you plan to do with it won’t be error-free either.

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As you can see, data validation serves a purpose and a crucial one at that. So, why is it that people continue to look it over? It can be credited to a variety of challenges, including the pace of the process. Some files are convinced that data validation is a time-consuming job that will slow down other operations across the business. But given that now the market offers a plethora of solutions to accelerate that, this isn’t a problem anymore. Now let’s take a look at some of the other challenges in this regard.

  1. Distributed databases: As mentioned above, data validation, though crucial, is subject to myriad challenges. And perhaps the biggest one of them all comes to the fore when one is dealing with data distributed across several databases. Now, you need all your data in one place so you can start working with it, and with data residing in different databases can pose a problem to that plan. Furthermore, distributed data then runs the risk of being siloed and perhaps even obsolete.
  2. Data formats: There is no doubt about the fact that data validation can take much time, often to the frustration of myriad stakeholders involved in the process. The problem is further compounded when one is dealing with a particularly extensive database and you intend to undertake a manual validation process. But this particular challenge can be effectively dealt with by sampling data for validation. Doing this allows one to significantly cut down the time they will need to validate all the data at hand.

There is no denying that data validation is a demanding process — it requires time as well as many decisions to be made. And then there are challenges too. But with the right data validation platforms, especially the ones that seem to suit your business’ requirements, all these challenges can be tended to quickly and effectively. And if you find yourself needing assistance, say with the integration of data using Talend, you can always engage the services of a trusted service provider, who will also be able to help you with the rest of your data validation process.

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Kubernetes is increasingly becoming the de-facto standard with more software & applications workloads moving into containers. Kubernetes has capture the cloud market by storm through the implementation of strong infrastructure development. It makes deploying and managing the app easier and improve reliability and reduce the time you need to spend on DevOps.

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We must be prepared for the Internet of Things (IoT) Tsunami, but it will not be in 2020 as many of us believed. The good news is that it is approaching but now more quietly than a few years ago.

For the most pessimistic or unconvinced of the IoT, I must say that much of the hype around the Internet of Things is not really hype anymore. I will say one more time: “IoT’s here to stay”.

In Ten Trends of IoT in 2020, Ahmed Banafa considers that in the year 2020 we will hit all 4 components of IoT Model: Sensors, Networks (Communications), Analytics (Cloud), and Applications, with different degrees of impact. If we pay attention again to the predictions by 2020, the IoT is predicted to generate an additional $344B in revenues, as well as to drive $177B in cost reductions. In his article, Mr, Banafa explore the impact of many technologies on IoT and predict what is next for IoT.

No doubt that disruptive new trends will emerge over the next few years that will pave the way for a complete overhaul in the way we view and interact with our world and the Internet of Things will continue its brisk and steady rise as our planet and everything in it becomes connected.

Nevertheless, some shadows continue to appear for IoT like we can read in “IoT in 2020: awkward times ahead” . The pain points are the usual suspects:

  • Security – The divide between IT and OT is one of the central causes of the security problem
  • Lack of complete solutions - IT companies have been aggressive in partnering up with OT companies, and there’s a general recognition that most complete IoT solutions will involve products from multiple vendors.
  • No single vendor is able to offer a complete solution to a given IoT problem and, therefore, unable to solve the broader issues with IoT technology in a unitary way.
  • Edge networking- One of the major trends for 2020. The cloud can be a limiting factor in a lot of IoT deployments.

I was pleased say that I have included some of the Top 5 IoT trends released by Ecosystm in this free report “The Top 5 IoT Trends For 2020”. Here's what we think 2020 has in store for IoT:

  • 5G Providers Will Be Forced to Operate Outside their Comfort Zone
  • Satellite IoT Connectivity Solutions Will Start to Compete Against and Work with LPWANs
  • IoT Sensor Analytics Will Become the Fastest Growing AI Workload
  • Construction Will Become the Unsuspecting Influencers for IoT Adoption
  • The Edge Will No Longer Be at the Edge 

Following the tradition of previous years, I have been collecting links to other sources with IoT Predictions and Trends for 2020. You can read more predictions in these links:

Previous Predictions collected in my articles

2020 IoT Predictions  - https://www.linkedin.com/pulse/2020-iot-trends-predictions-prepared-tsunami-francisco-maroto  

2019 IoT Predictions  -  https://www.linkedin.com/pulse/yes-we-continue-making-iot-predictions-2019-francisco-maroto/

2018 IoT Predictions -   https://www.linkedin.com/pulse/have-we-already-bored-predicting-iot-francisco-maroto/

2017 IoT Predictions - https://www.linkedin.com/pulse/finally-2017-year-internet-things-i-do-think-so-francisco-maroto/

 

Key Takeaway                

This year there are fewer predictions about IoT. This is not bad. On the contrary, it is a symptom that the hype has disappeared and the IoT has evolved and has become more real.

For my part, every year I am lazier to read predictions and trends. Many articles are written by non-IoT experts, are repetitive and do not add great value.

Let´s keep the positive messages of 2020 IoT Predictions and Trends:

  1. IoT is developing at a fast pace
  2. The maturity phase of IoT has just begun, and it is soon to become a full-blown business in the coming years.

We, the IoT Pioneers, know that IoT development isn’t something that will happen overnight but we also know that IoT will star developing in 2020 at a fast pace.

Back in 2000, futurist Paul Saffo warned that in 2020, we’ll be “living in an age of technologically induced creative destruction.”

We're far from that. Expect a 2020 year of less IoT technology news and more business news.

No matter if you are running a small business, a medium or large company or a multinational, IoT is going to find its way into your business. So, be prepared for the IoT Tsunami that is coming!

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A few weeks ago we attended the AIPIA (Active & Intelligent Packaging Industry Association) World Congress in Amsterdam and one of the opening remarks made was: the technology for connected packaging has been available for some time now and it’s only more recently that brands have stopped watching from the sidelines and taking the plunge into enabling connected packaging for their products.

While there have been some early adopters in the space piloting some innovative projects in the past few years, the bulk of consumer brands and manufacturing companies have preferred a watch and wait approach with various concerns about initiating their own transitions from traditional packaging and systems to connected packaging and smart data driven systems. Many of which were valid concerns given IoT smart products and active / intelligent packaging is still fairly new as a key area of technology and rapidly evolving and changing every few weeks. During our conversations with various stakeholders of the industry there, two thoughts appeared unanimous:

  1. Connected packaging & digitalization of products / smart products is undoubtedly the way forward for all brands that are to compete in the current digitally connected world and is here to stay.
  2. The question is no longer if and when brands and manufacturers will invest in connected packaging but how to go about it in a smart way so as to address the concerns they may have and do it “the right way” so it can scale without hurdles and road blocks in future as the technologies themselves, continue to evolve.

As a technology enabler that has been working on both the technology side as well as understanding the business side and requirements of CPG brands and their product lifecycles, here are some of the top factors to consider (and concerns they address) while making the right choices and getting connected packaging technology right from the get-go:

Centralization Vs Decentralized Systems for Connected Packaging Applications

Consumer transparency, product information delivery, e-labeling, traceablity, product authentication and counterfeit prevention, consumer engagement, loyalty management, waste management, consumer feedback loops, augmented reality, re-ordering & supply chain optimization…these are just some of the many application areas of connected packaging. With multiple individual technology solutions available for each one of these, the concern for brands is “how many different vendors and solutions will we have to manage?”. While each application area has its own set of requirements and merits, managing having product data fragmented across different software systems has its own set of challenges. “How will we ensure data integrity across all these?” “How can we synchronize updates to product data simultaneously on all these different systems?”. From that perspective, centralization of the product / item data makes sense long term. The way we picture it is: when a physical product is manufactured and rolls off the production line, simultaneously a digital twin / digital record for that product should also be generated and tagged to the physical product. As the product rolls off the line and journeys through its lifecycle, through the supply chain, the consumer and beyond, that product is interacted with by multiple connected devices and data about the product is constantly being updated or read via the digital twin via connected devices and the various applications. This approach allows you to first connect the product, give it a digital life alongside its physical one and then build various applications and business processes on top of it rather than a decentralized approach.  

Being Immune from Technology Shifts to Activation Tags & Triggers on the Packaging.

Not very long ago, the humble UPC/EAN/GTIN 2D barcode was the only activation trigger on product packaging. You now have barcodes, datamatrix codes, QR codes, NFC tags, RFID labels, databar, invisible markers, nanoparticle markers, temperature sensors, spoilage sensors, package anti-tampering sensors and a range of different activations and triggers on the packaging. The larger concern is the rapid evolution of technologies and arrival of new ones hitting the market every few months. How do you know which one is going to stand the test of time? One of the smart moves in getting connected packaging right is to decouple the triggers or activation technologies from the product data or software system. Each of these activation tags usually have an identifier which can be used to tie it to the data. If the trigger changes in future, the flexibility to de-link it from the earlier tag and connect it to a new tag using the identifier is inherent. Whereas in a tightly bound system where the tag on the packaging and the software are linked, that flexibility to be immune to changes in tags and activation technology is lost.  

Flexible Architecture That Can Keep Up with the Pace of Change

Change is inevitable and nowhere does it hold more true than the consumer products industry. Requirements within the industries, regulations, compliance rules, data systems, standards for technology all change and get updated faster than ever before. Very often, before a company finally rolls out updates to the their system, the next change has come along sending them back to square one. The software systems used for connected packaging need to factor into their architecture this constant need for updates and changes. The flexibility to update the data model, extend attributes, maintain different versions, control the flow of data, accessibility of data and address changes in business systems, regulation or the real world are essential to deploying a connected packaging solution that can keep up with change and endure.

Ease of Integration & the API Ecosystem

Often decision makers seek out a one-stop solution provider for a specific application or solution to a challenge. For example, counterfeit prevention. This may work well as an approach for a small business but a mid-sized or large organization has highly complex systems with multiple stakeholders, systems and moving parts that need to come together when it comes to product related data systems. Manufacturing IDs and data related to products may reside in SAP or an ERP system. Ingredient information about the product in a PIM software, labeling information in another location, marketing related images and content elsewhere and so on. As a result, ease of integration with other systems both internal for gathering item related data required for connected packaging applications as well as external applications is important to factor in. Any system you select should offer API connectivity to other systems to bring in data or serve data to other systems in order to integrate seamlessly with existing systems and be compatible with the API ecosystem which is really the backbone of digitization and data today.

Phasing Connected Packaging Projects & Scalability

Connected pakaging is not a single project or end goal with a limited time line. It’s an enabler for several applications, use cases and smarter more intelligent business systems as the organization moves ahead. Getting the foundations for the system in place first along with infrastructure and processes in place first allows you to phase different applications, pilot projects individually and then scale rapidly. For example, a brand can start with enabling their packaging to deliver e-labels and instructions on how to use the product to start with. As a second phase, use the packaging  to enable digital warranty activation and later push out engagement via contests as a third phase. With initiatives such as the GS1 Digital Link, a single trigger on the packaging or a single QR code would soon be able to trigger multiple interactions with the product depending on who is scanning it, where they scan it from and other contexts. This would eliminate the need to print different triggers on the packaging every time a new interaction is introduced. The right connected packaging technology selection should enable an organization to deploy different interactions and applications connected to the product in a phased manner and also offer the infrastructure and ability to smart small, test and then scale across thousands of products, millions or billions of serial items as and when required.

All considered, in order to get connected packaging right and make the right decisions from the start, looking at connected packaging from a wide, holistic perspective complete with all the possibilities that will emerge in enabling it in a flexible way, will help invest time, money and effort the right way.

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Industrial Internet of Things (IIoT) is the next big thing in the manufacturing industry that allows manufacturers to digitize their overall business. The majority of large scale manufacturers are aware of this revolutionizing technology of IIoT but do not know where to focus their efforts and what decisions to make to get started.

The end goal of introducing IIoT in manufacturing is to reduce the downtime of factories, save energy with smart power saving, and increase overall revenue. The Internet of Things can transform the manufacturing ecosystem by expanding the value chain, moving towards the agile production process, and improving customer service.

What is the Industrial Internet of Things?

Internet of Things (IoT) has extended beyond being just a buzzword. IoT capabilities implemented in the Industrial and Manufacturing space make way for the modern revolution Industrial IoT. With an amalgamation of different technologies like machine learning, big data, sensor data, M2M communication, and automation, IIoT is all set to transform the manufacturing processes. IIoT makes way for connected enterprise improving visibility, boosting operational efficiency, increases productivity as well as reducing the complexity of the process in the industry. Industrial IoT is a strategy aimed at enhancing the quality, safety, productivity in a trade.

IIoT: Optimizing Operations in Manufacturing

Let’s know the adoption plan for manufacturers to move towards smart factories. IIoT is utilized to employ the industry-best practices of device connectivity and management, synchronization of processes, and advanced analytics to get the best productivity. The following are essential dimensions that require the attention of manufacturers to prepare for the fourth industrial revolution.

Empowering Equipment to Become Smart and Intelligent

 The traditional working pattern of factories is mismanaged, for which the following factors are held responsible:

  • Range of equipment working independently of each other
  • Machinery that is fixed only in cases of break down
  • No consideration of load balance for scheduling of maintenance checks 

Smart factories are built with intelligent equipment that self-manage work and collaborate with the entire manufacturing ecosystem for the synchronized workflow of processes.

Installing Sensors for Safety

Using sensors helps in increasing visibility into the functioning of equipment and get details on possible threshold violations. Manufacturers can identify problems through remote monitoring of computer where sensors are connected to other large networks for in-depth analysis.

IoT is not just about saving money and time; it is about keeping workers safe. Sensors can be used to manage and monitor workers’ locations in case of an emergency or evacuation.

Creating a Blended Workforce

 Workers operating on a pre-defined schedule and regardless of production plans result in wastage of resources, money, and efforts. The best way to making optimum use of the workforce is to align their work along with machines so that they can work collaboratively to deliver outputs as per manufacturing requirements. 

Such result-orients efforts of a blended workforce allow in improving the efficiency of manufacturing processes. Train the workforce to use the emerging technologies of wearables and mobile helps in implementing the concept of enterprise mobility. This eventually results in enhanced accessibility and flexibility to undertake tasks. 

Essential data such as checking of work status, work allocation details, and instructions can be accessed as well as updated in real-time by the entire workforce. Integration of human and machine, i.e. blended workforce resolves the problem of underutilized and unutilized assets, crossing of deadlines, and management of people as per the urgency of the delivery.

The Power of Prediction

IIoT can exponentially improve operating efficiencies and increase the power of prediction in the manufacturing process. Just consider if a machine stops functioning in an optimum manner, the connected sensors can identify the reason behind malfunction and generate a service request. 

Predictive maintenance is the next big thing that will help a manufacturer predict when a machine might breakdown or enter a precarious operating condition even before it happens.

The process of condition monitoring is a fairly time-intensive process to analyze sound frequencies, vibrations, and temperature of a given machine to assess its reasonable condition. With the effective use of sensors, it is easy to collect and quickly analyze data points prediction becomes powerful and more comfortable.

The overall equipment effectiveness (OEE) improved with IIOT and sensors. The increased OEE reduces waste for the organization by predicting when machines would require maintenance and need to be taken out of service. By decreasing machine downtime, manufacturing companies can take better advantage of the factory’s capacity.

 Business Process

Manufacturers are defying the conventional tactics and improving business processes by abandoning manual management involving tracking people, materials, tasks, and products. Now is the era of integrated and synced systems that are intricately planned and executed in real-time, providing real-time visibility of materials and products throughout lifecycles, optimize workflow to encourage preventive actions for defective products, and optimize plant operations for effective use of resources and assets. The factories of the future will be agile, adjusting swiftly and effectively to change according to customer demand while controlling costs and quality.

Conclusion

IIoT has been identified as one of the most promising technologies with the power of creating economic change. There are several possibilities that have added up to the “Next Big Thing”. However not every evolving technology has the potential to break through the business and social landscape.

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The Internet of Things has revolutionalized the way we acquire data and store it. Storing and processing data from the physical things and even the human body has never been so easy as it has been made through the innovations in the IoT. Physical objects are connected to a database that stores the smart data captured through different sensors on the IoT-based smart devices.

Though the years, we can see the shift of IoT from information-based technology to an operational-based technology. IoT combines sensors, smart devices and a smart grid of interfaces to provide smart solutions.

 

What is Cloud Computing?

The evolution of different computing paradigms like parallel computing, grid computing, and disseminated computing into a singular advanced computing framework gave way for cloud computing to rise. Cloud computing provides three basic models for users:

IaaS- Infrastructure as a Service-
for network architect who needs infrastructure capabilities. 

PaaS-Platform as Service-
for developers who need platforms to develop their applications.

SaaS-Software as a Service-
for end-users who need to use the software for their daily activities.

Cloud computing has been pioneering the data processing over a serverless service provided through a cloud server. Data is stored, managed and processed over cloud network through intelligent machines using Artificial Intelligence and machine learning.

 

What is Cloud-MANET?

Cloud-MANET framework is a smart communication between smart devices without any centralized infrastructure. This framework suits best for the M2M network or machine to machine network as there are several devices nearby. Users can use smart devices to exchange videos, images, text, and audio with the cloud servers and minimizing the information.

MANET-Mobile ad hoc networks are a very popular network from which users can get connected anywhere and anytime. The amalgamation of Cloud and MANET provides access to the cloud in the MANET network for smart devices. In real-life scenarios, we can see users that want to use the MANET network gathering at a single place to access the network. For this group to access the cloud server, one of the users must be connected to the internet.

 

Step By Step Usage of Cloud-MANET Framework:

Step 01: Form a mobile ad hoc network.

Step 02: Access the ad hoc network in the range.

Step 03: Register your smart devices in MANET.

Step 04: Register the MANET devices in the cloud.

Step 05: Implement the IoT-based Cloud-MANET model to all the smart devices and start communicating.

 

Cloud-MANET in IoT :

The existing cellular networks do not allow all smart devices to connect without a centralized infrastructure. This approach is quite useful in increasing the capabilities of smart devices. The ad hoc network can connect all the smart devices in a decentralized framework. 


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Image Source: Middleware implementation in Cloud-MANET integration model

 

The smart devices are in a three dimensional plane on the X-axis, Y-axis, and Z-axis. The whole area is spread over the wireless network divided into several cells. They are around each cell and are fixed and the smart devices in each cell can move within this range.

The smart devices discover another smart device nearby in binary digits within the same cell area. If there is a two-dimensional plane the smart device’s detection is carried out through the Hidden Markov Model(HMM). This model is connected in the working area and the devices move inside the area and this model will help find the devices nearby.

A transition matrix is formed in the area of the wireless network, where all the smart devices are found and placed into the transition matrix.

Placing the smart devices in the range of MANET:

The smart devices are placed into the MANET networks to consider connection and coverage. At the beginning of the process, MANET is in a dynamic state or say inactive state as soon as the device starts to make a communication effort with another smart device, MANET gets activated. Any steady-state device can communicate and change the dynamic state of MANET.

Implementation of MANET:

The smart device users will use cloud service to discover the smart devices, minimize useful information like images, videos or messages in big data and can process them. A new framework as this can be used by enterprises to enhance the capability of MANET and cloud computing on the internet of smart devices.

3751310298?profile=RESIZE_710xImage Source: Routing in Mobile Adhoc Networks

 

MANET framework can be useful to leverage the 5G heterogeneous network. To make the most of this framework, enterprises can hire node.js developers that can use the prowess of the Javascript environment to form specific APIs for this framework. The smart device will be considered as service nodes. The communication between these nodes is secure and free from vulnerabilities and reliable by using of cloud-MANET framework.

The smart devices based on IoT technologies are electronic and connected to other devices or networks through network protocols such as smartphones, tablets, smartwatch, etc. The cloud computing helps in sharing resources, storage, and services using mobile applications for a large amount of smart data. 

This framework is solely focused on secure communication among smart devices in the area of Cloud-MANET. This smart algorithm is run as a mobile application and tested in the cloud-MANET of smart devices for several protocols. The results can be implemented in the framework of the internet of things in 5G heterogeneous networks over the cloud service.

 

Salient features of the framework:

  1. It uses a decentralized infrastructure for smart device communication.
  2. Easily integrated into the wireless network area.
  3. Compatible with the heterogeneous network 5G.
  4. Cloud-MANET framework provides secure and reliable communication
  5. The smart devices are considered as nodes.
  6. Smart device detection and communication can be carried out in 3D and 2D planes.
  7. MANET networks work in a dynamic state for communications.

 

Conclusion:

As the 5G networks are getting popular among the users and 2020 could be the year for 5G.  While the establishment of communication between the smart devices in a heterogeneous structure of the 5G network can be challenging, the Cloud-MANET framework presents the solution that developers have been looking upon.

A decentralized infrastructure with cloud capabilities can certainly change the IoT paradigm for better communication and data exchange among smart devices.

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Artificial Intelligence is a popular term currently evolving around software industries. Many app development companies were developing their requirement process to recommend AI-bases workers and also many institutes were trained to learn the concept of AI. It clearly says that in the future, most of the tasks will drive through AI. Hence it is good to know how AI will help the professions to run their routine work effectively. It’s not only about learning the skill but also depends upon the interest you have to learn. AI does not only deals with a particular requirement.

It also deals with sectors like data analytics, machine learning, data mining, etc. By combining these factors will help to maintain the AI to train the job for the long term. Hence make sure to know the areas that follow to build the profession in profit. This blog will help you to know the information for the profession that helps to operate effectively.

Software Development

Software development is one of the topmost demanding jobs in every country. By getting into the job as a software developer will help to promote the career faster than the other industries. In the future, AI will help the programmers to think less as machine learning will take place to eliminate the code and introduce the algorithm to build the application. By allowing the Ai to adopt the section to work will help to play the complete function in an easy mode. IT reduces the effort of using the coding and also helps to build the apps easier and effectively. For example, software testing is one of the important roles in development, by placing AI to automate the testing will help to replace the employee and reduce the effort of them.

Machine Industry

The machine industry is a vital part to run society. Workers were working for the long term and creating a great effort to complete the work. AI will help to respond to the function to operate smarter and effectively. By utilizing the data analytics, the result to maintain the chain process will become easier and more effective. Hence complete machine industry will get a hike to improve their quality. By focusing on furthermore internets of things get communicated with the sources from industry and get huge control. Hence by using these technologies will bury the effort of workers and also increase the quality of time from the manufacturing side. It improves the quality and helps to maintain the product to get qualified.

Education System

Education is the right of every citizen of the country but most of the time students get frustrated due to the load that is given by the system. Hence it collapses the mind easily. Thus to prevent it Ai can implement it. It helps the system to decrease the load of education and improves understanding. It allows the student to get interact easier and helps to improve the concept to understand.

For example, if a student wants to learn the practical session, its easy to make it live virtually. It helps them to improve their creativity and also increase their interest to observe. Hence by implementing AI will tend to improve the whole concept of education.

Healthcare

The healthcare industry is always an important part to get noticed. Every person was looking for improving their health but most of the time they were lazy to build the habit to take care. Thus by using Ai, the cost of spending bucks for health will reduce and the improvement of the human cycle will get increases. Already Ai apps were built to support the human by analyzing their symptom. Hence in the future, apps get increased and also the technology will get improved. By acknowledging the human about their problem with the symptom will help to improve their health without any support and also help to save their money. Even data analytics will help the patient’s improvement of humans in terms of analyzing the error. Thus by using data science as it is a part of Ai will help to maintain the record of patient safer and also reliable to the human.

Supply Chain

The supply chain is one of the toughest parts of the profession as it requires used by many companies to service for them. By using the data analyst, the usage level of getting information will be much good rather than depending on humans. It helps the business person to prevent the time shortage and also increases the quality of response. By ensuring the time is important to supply chain business as it matters a lot to the supply chain profession. Hence applying Ai to the supply chain will be prettier and help the process to work properly and reliability for the system.

Wearable Gadgets

Technology is much reliable to society to help the human and increase the concentration on their work. Wearable devices are one of the popular devices that have been getting merge with human routines. Especially devices are used for health reasons. Hence by using the gadgets will allow the user to acknowledge the ratings of health. By using the gadgets, the usage will be finer to track. Also, the apps related to wearable devices were much high and also demand is also getting a hike. Many top app companies were working for wearable apps. Hence the usage of these kind apps will bring great attention to the software industry. It is related to IOT. Thus automatically Ai will get into the game to manage the data.

Business Models

Maintaining the business as per the requirement of the client is the major responsibility of every person. The important part is the data that has to be analyzed well. It should not get criticized. Hence analyzing the data with the help of AI models will improve the business requirement and also the client requirement. Thus in the future, many companies will seek data analytics to improve their business.

Final Words

Artificial intelligence is one of the topmost sectors in today’s world. And driving the field via these techniques will help to improve the complete session.

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That app development is popular and widely sought after endeavor is not news. However, what is news is the fact that now there’s a modern tangent to it, thanks to the many incredible resources and tools the evolution of technology has given, i.e. the Internet of Things. The fact that now one can transfer data between not only computers but also any machine or object connected to a network offers immense potential in the context of app development. Why? Because of all the value it brings — IoT in the app world has not only consumers but also resulted in a world of benefits for businesses that use and offer such apps.

3742090215?profile=RESIZE_710xSo, this much is clear — IoT apps are a widespread phenomenon now, which means a sizeable number of companies across the globe are pursuing it. However, before they can get started with it, they must choose a framework that is capable enough to deliver high-quality apps with integrated IoT. Now, this may simple enough, but when you look at the options at hand, the challenge grows exponentially. Thankfully, there’s one framework that has consistently ranked among the top choices for building IoT apps — ASP.NET 3.0. The open-source framework’s ability to facilitate the development of apps across a variety of platforms demonstrates what makes it so popular among developers. But to help you make a more sound decision, allow us to walk you through some solid reasons for why you should pick ASP.NET 3.0.

  1. Off the rack solutions: One of the most potent benefits of this framework is that fit offers a large variety of distinctive ready-made solutions, thus saving companies and developers much effort that is typically associated with building custom solutions. And then there’s also the fact that it is highly conducive for the reuse of code.
  2. Unassailable cloud support: Cloud support is critical for app development in the modern-day world. For that, you have Microsoft Azure IoT platform and accelerators, whose compact size and secure nature mean that developers can swiftly deploy their apps in the cloud and that too without a fuss. Oh, and there’s also the periodic updates, which translates into the ability to introduce handy features and functionalities easily
  3. Windows 10 IoT Core compatibility: ASP.NET 3.0 is entirely compatible with Microsoft Windows 10 IoT Core edition, which, by the way, is often cited as one of the top reasons for why developers choose the framework. Not only is t loaded with a plethora of productivity tools, but also enables integration with a variety of platforms, such as Azure Cloud-based platform, Universal Windows Platform, Visual Studio, and others.

The factors cited above, though not the frameworks only benefits are ample demonstration of what makes it such a terrific tool for IoT projects. With .NET application development, any company can quickly put together top-notch apps that are 100 percent scalable, efficacious, and secure.

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In today’s digital era, people, objects and devices are connected via the internet. Consequently, a humongous amount of data is generated daily, which when processed and analyzed can provide valuable insights, which in turn can be leveraged for informed decision making. Today, ground-breaking technologies like IoT (Internet of things) has completely transformed the way people think, behave and work. IoT, which is simply an ecosystem of interconnected devices that communicate with each other while operating independently helps in performing various operations such as identifying, analysis and control mechanisms. In fact, real-time insights gained through IoT can prove to be beneficial for businesses in several ways.   

Since customer satisfaction is a prominent factor that influences the growth of an evolving business, businesses are trying to make the most of this innovative technology by integrating their CRM platforms with it. While IoT helps in driving meaningful insights across various departments including marketing, sales and customer service, the combined power of IoT and CRM can augment efficiency and visibility, which in turn will help the business respond to customer needs in real-time. 

To provide customers with improved customer service, businesses are leveraging the IoT Cloud platform for providing businesses with a complete and integrated view of customer behavior by helping connect a large number of sensors, applications, devices, etc. with billions of events. This is where you might need the support of a Salesforce consultant.  

How does the Salesforce IOT cloud Work?  

The Salesforce IoT cloud platform, which is powered by Thunder is designed to provide personalized CRM experiences to customers. This immensely scalable platform binds data from sales, service and marketing clouds and processes it to provide businesses with insights regarding customer behavior so that they can engage with them in a more relevant way. In other words, businesses can now provide their customers with the services and features they have been looking for.  

Let’s take a quick look as to how the integration of Salesforce IoT cloud with your company’s CRM can take your business to new heights:  

Informed Sales & Marketing Efforts:The two departments which benefit most by the integration of IoT and CRM are the sales and marketing department. While salespeople can cultivate a better rapport with their prospects by gaining insights from data gathered by IoT devices, marketing professionals will have the necessary information regarding customer preferences and needs to create ground-breaking strategies for brand promotion.  

Enhanced Customer Services: The amalgamation of IoT with CRM paves way for businesses to provide superior customer service, which leaves your customers happy and satisfied. By pre-determining the real-time issues of their customers, businesses can create efficient plans to prevent their customers from suffering any type of hassles, their reputation, as well as public relations.  

Updated Pricing Models: By integrating IoT with a CRM system, businesses can position their brand in the market with a competitive pricing model.This becomes possible due to insights gained from live data streaming.  

To Sum Up:  

With Customer expectations constantly evolving, it becomes mandatory to take steps that can provide your business an edge over your competitors. By integrating IoT with your business CRM, you will be able to gain significant insights regarding customer needs and preferences, which in turn can be leveraged to satisfy your customers and maneuver you from the competition. To make the most of your CRM, it makes sense to integrate your CRM with the IoT system for which you may get in touch with a reputed Salesforce consulting company.   

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Artificial intelligence plays a significant role in the growth of the IoT sector. Artificial intelligence emulates the task more profoundly, Those performances were earlier limited to the human workforce, but now the Artificial intelligence development company has made a lot more noise in almost every sector by actually revolutionize everyone's lives.

The Internet of Things has been introduced in recent years with the objective to transfer data to other devices through the internet. IoT relies heavily on the internet connection that handles large volumes of data. IoT and artificial intelligence from the last two years are going hand in hand as these data helps in generating a lot more data that can be taken as actionable results.

Artificial intelligence helps IoT to handle the data on the basis of algorithms where they can convert data with the help of machine learning-based analytics. These AI Developers help the company to monitor operations that can give great insight from the data with greater accuracy.

 

Gartner predicts that by 2022, more than 80 % of enterprise IoT projects will include an AI component, up from only 10 % today.

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How AI and IoT are Contribution to Growth

AI at work can access your IoT databases and know about your choices on the basis of last preferences, these personalized suggestions can easily make someone's life much easier. Here are some vital factors where Artificial intelligence affects the internet of things. 

  • Greater Revenue

IoT and AI are proving to be beneficial for most industries. These effects are enhanced by greater revenues and returns along with smart services-based solutions. With the extraordinary combination are transforming the workflows and other productivity of the businesses. 

  • Reduced Costs

AI and IoT ensure to reduce the operational cost by properly monitoring the smart sensors, meters, other fitted appliances. AI solution providers are providing impressive features that minimize the operational costs of households and business enterprises.

  • Predictive Analysis

AI uses the power of analysis to forecast and minimize unpredictable incidents at the most basic level. It allows businesses to manage real-time data in determining the condition of machinery and equipment which are likely to break down in some time.  Proper action can be taken prior to avoid any kind of damages or loss with an associated cost. 

  • Enhance Risk Management

A number of applications that integrate IoT with AI help companies to better understand and foresee a range of risks with the fast response, allowing them to better manage the safety of the workers, loss or any other cybersecurity attacks. This law enforcement identifies all the possible loss and tries to eliminate the threat before access.

 

How IoT impacts Industrial Sector

#1 Manufacturing

The manufacturing industries are integrating smart sensors with the help of IoT in order to perform enhance the efficiencies. These smart sensors help in detaching the threats be it aircraft, automobiles, household. By implementing Artificial intelligence solutions and smart sensors can help in diminishing the errors and also reduces the overall cost with the help of prognostic analysis.

#2 Smart Homes

IoT introduced the concept of a smart home where all devices are connected through a shared network. Through integrating this with AI, all of these apps will be able to understand the commands of their users and make smart decisions accordingly.

It can also help to reduce the cost of electricity by switching off devices when things are not used just by switching off the lights.

#3 Airlines

After the evolution of the latest IoT technology, all kinds of machines are run through sensors. We do not need to physically touch the devices to perform. These sensors are needed to identify the maintenance issue if any flight delays or cancellations, sensors automatically send messages to its passengers about schedule time or delays. Artificial intelligence solutions automatically transmit the issue, be it flight delays, cancellation or any other essential information. 

Conclusion

AI and IoT cumulative impact would fundamentally restructure our personal and professional lives. Therefore, wise companies opt for a strategic and innovative strategy to control this incoming phenomenon and transform it into a huge opportunity for their company to escalate. These dependencies and AI and IoT are aiming to gather important issues that process and store data with the visionary approach that can easily escalate businesses. The IoT development company is reshaping the whole scenario by simply combining the AI and IoT functionalities.

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The advent of Industry has marked the rise of IoT - the Internet of Things as one of the most significant shifts in the global devices market. It refers to the use of internet connectivity among the electric devices and systems to execute a joint function autonomously. 

 

We can find an uncanny resemblance to this concept in the movie Home Alone 4 (2002), where the idea of a smart home fad was beautifully narrated with its pros and cons that will turn into a reality soon. Two decades down the line, we are on the brink of the IoT revolution, which will result in increasing the living standards globally. Dive in deeper to explore the current happenings and future horizons.

 

Current Market Scenario and the Probable Stakeholders

The potential of IoT applications is widely recognized by both enterprises, retail consumers, and government agencies as it will integrate the cyber-physical systems with internet connectivity in order to interact with the surrounding through sensors and manipulating devices. Business Insider estimates the value of this tech innovation to be $1.7 trillion in the year 2019. The use of the Internet of Things will reduce the need for human effort in various tasks and provide controlled environments for achieving the desired results. 

 

The investment done by the tech giants is illustrated in the below figure:

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 (source: Forbes)

 

Some Famous User Cases Which are Expected to Take off Exponentially

Manufacturing Sector

The companies like ABB, Airbus, Shell, and the long-term IoT pioneer Caterpillar have been proactively pushing for such innovations in building safer workplaces that require fewer human interactions in hazardous work, which is also beneficial to the profitability of the business. It will also find great reception in predictive maintenance scheduling and inventory management. 

 

Asset Management

The businesses are looking forward to replacing the GPS in order to increase the efficiency of tracking company-owned devices through internet connectivity. This will also reduce the lags in logistics and provide accurate details for the consumables, as in the case of printers. Another example would be integrating the payroll software with the employee vehicles to reimburse traveling claims.

 

Agriculture 

The use of IoT to develop smart greenhouse farms with autonomous controlled environments will prove to be a boon for the agriculture industry as it will help in boosting crop production. Smart irrigation will control the soil quality, moisture content, atmospheric gas contents, and monitor plant health without any human intervention. The farm equipment will also be controlled in greenhouse farms with minimal need for human support.

 

Smart Homes

They are one of the largest areas where the revolution is expected to unravel the disruption in the electronic devices market. Google Nest, Ecobee, and Netatmo being the big fishes in the business. Everything including from your regular home appliances like fridge, television, ambiance and temperature control system, music system, and utilities are connected over the internet and controlled by remote servers. The user can interact with them using their smartphones. The house security is also connected with the central system. 

 

The effect on Living Standards

When we look at the current scenario, many of these tasks, when automated, the people currently dealing with hazards related to their respective fields such as heavy machinery or agriculture can work in a much more safer environment. Smart homes will increase the quality of life and help households in saving money since energy consumption is streamlined while providing a luxurious experience. Businesses will experience higher profitability and increased morale of the employees owing to the techno-savvy environment. 

 

The Development of Newer Devices through Prototyping 

Before the application is made, it is essential to test the reliability of all the devices since they will be used under different conditions and other manufacturer’s devices too. Also, the addition of newer devices shall also be considered. The use of prototypes in test conditions will prove to be an economical alternative to full-fledged testing. This will include the use of sensors and motion actuation systems with minimal cosmetic additions and cladding.  

The following considerations will affect the development of future-ready electronic gadgets compatible with IoT applications:

  • Safety against web-based third-party cyber attacks.
  • Modularized designs with programmable memories.
  • Standardization of source code libraries to facilitate interoperability.
  • Confirmation of regional government regulations.
  • Operational conditions.

The modern tech innovations such as AI, Cloud Computing, Blockchain, and the dawn of 5G connectivity will push the IoT movement along with the use of advanced sensors. Increased computing capacities will also contribute to data processing functionalities. However, the stakeholders in the industry ranging from vendors to maintenance personnel will have to cope with the advances in the technological aspects. The Internet of Things is also expected to be backed by academic institutions by covering it in the syllabi for creating a skilled workforce.

The author would also like to discuss the threats associated, which would pose a danger for the users. If the security provided isn’t adequate, ransomware attacks, stealing user information, altering device settings to provoke hazardous conditions are some of the worst-case scenarios. Hence, the vendors shall be conscientious about the security aspects along with the legal repercussions. 

 

Your Piece of the Pie 

A lot of new facilities and value additions to the existing devices and tools will boost the quality of human life, curb the problems caused due to the dangerous working conditions along with the health problems caused by them. It will find a broad spectrum of business domains, including smart cars to intelligent healthcare that will radically redefine our homes and workplaces alike.

The real potential is yet to be explored since the number of gadgets and tools is increasing day by day in each aspect of life. Be it economic or social backdrops, we will experience cost-optimization going hands in hands with unparalleled convenience, which is a rare phenomenon so far. We can also expect the Internet of Things crossing paths with other advanced technologies such as Artificial Intelligence, Big Data Analytics, and Edge Computing that will add value to their purpose in an exponential manner. 

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