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 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.
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 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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
Taxis have long been a part of the daily transportation system all over the globe. Also, they are so crucial that it is hard to imagine life without them even if your city offers a proficient and well-connected network of public transportation. Moreover, as the cost of private vehicle ownership continues to grow at a mind-boggling pace, it is easy to see why people are turning to taxis for completing their commutes to work or anywhere else they may need to go. However, is that all there is to the sudden increase in demand for taxis? Actually, no.
Today, customers live in a highly digital world that accommodates all their needs, demands, and requests. This expectation is also extended to taxi failing services. Thankfully, companies that provide such services have been quick to adapt to evolving customer expectations, thus marking yet another crucial reason behind the high demand for taxi dispatch systems. It has also given rise to intense competition as well as the need for robust solutions to establish an edge over rivals. Moreover, in this search for a tool, you will find that one name stands out from the crows: Artificial intelligence. So, without further ado, let’s take a look at how this technological novelty can help your taxi business.
- Personalization: There’s not a user on the face of the earth who doesn’t like personalized service. It holds for customers of taxi businesses as well. To that end, AI helps by providing access to users’ locations and their activity on your taxi app along with data about other apps, platforms, and the services they use frequently. This data is crucial for understanding a user’s preferences, which can then be used to push more relevant content and offers to them.
- Better decision making: Data is a truly versatile gift that technology has given us. Data gathered by the company can be processed to glean insights and identify trends, among other things. Such information can then inform strategic decisions executives have to make for the business. AI empowers businesses with comprehensive analytics about vital factors like customer behavior, service demand, and more. that can go a long way in making smarter decisions for the business’ future.
- Predict demand: Besides driving better and more intelligent business decisions, AI can also be used for predictive analytics to predict demand and that too with a high degree of precision. AI helps gather data, including historical data, and then utilizes predictive analytics to deliver appropriate predictions about the kind of demand your taxi business should expect and when it can wait to start showing.
The world already has and continues to benefit from the potential of artificial intelligence. Just take a look at e-commerce — giants like Amazon, Flipkart, and more have integrated AI so profoundly within their platforms and are reaping the benefits of that decision too. So that’s just one industry. Suffice it to say that taxi app development mixed with AI stands to offer so much to a taxi business: Better customer service, enhanced customer experiences, massive business growth, and more. We could go on and on, but you get the drift, don’t you?
For those who do not know this famous Goya´s painting: 'Saturn Devouring a Son', it belongs to the series of Black Paintings of the artist. It's the best comparison I can make after returning from the TechXLR8 --- IoT World Europe Summit in London.
In the painting we see the god Cronos, who immutable governs the course of time, devouring a son. The act of eating your child has been seen, from the point of view of psychoanalysis as a figuration of impotence.
Saturn is the Artificial Intelligence (aka AI) and his impotent son is the Internet of Things (IoT). There are other brothers waiting their turn to be devoured by this hungry father. Soon it will be the Augmented Reality / Virtual Reality (AR/VR), the Blockchain and Digital Twins. Not even the 5G will be spared.
If you are still waiting for the IoT boom, this event is confirmation that the IoT is badly wounded at least in Europe. The few IoT companies that exhibited their products and services at Excel London showed nothing that could overshadow the big winner, the ubiquitous father AI. Although the Augmented Reality / Virtual Reality (AR/VR) does present itself a great rival for the other brothers.
Every time I find it more difficult to justify coming to these events. Neither being a speaker or moderator has allowed me to win a project. I keep doing it to maintain my influence and keep informed my followers on social networks, but I already tell you that physical and economic effort is not justifiable.
The organization this year has sought speakers that mix vendors presentations with success stories of clients. But this year neither of them was able to raise this event.
The few large IT firms present such as Microsoft, SAP or Oracle are on the side of the father "AI" although they show demos IoT many times repeated.
The discussions of the first years of the IoT boom revolved around connectivity, security, IoT platforms, even business models. Now, nobody is interested in these matters anymore. I am sorry for my many friends and myself advising in these areas, but all the fish has sold in West Europe.
Nor have the great integrators been present here. Those who should have implemented IoT solutions for years but never risked investing and continue to squeeze clients with digitalization projects, cloud migration projects, products updates and customized developments. I believe most of them have done a disservice to the acceleration of the IoT.
There was no great IoT news during the event. Perhaps the most important announcement was given by Marc Overton who took advantage of his presentation to announce the recent collaboration agreement between Sierra Wireless and Microsoft to claim industry’s first full-stack IoT offerings. Something that happened far away from here.
As for my sessions, they mixed IoT and Blockchain, something that would have guaranteed success for attendees two years ago or last year but that did not arouse great enthusiasm this year. It is evident that they are becoming a commodity. Something that is not bad, since we would stop speculating about possible use cases and we could be using transparent in our lives and businesses.
Do not worry, the life of IoT events continues, and so this week there are three more:
- Living bits and Things https://www.livingbitsandthings.com/ in Bled (Eslovenia), during 17th and 18th June 2019.
- IoT Tech Expo Europe - https://www.iottechexpo.com/europe/ in Amsterdam (Netherland) during 19th and 20th June 2019
- IoT Week – in Aarhus (Denmark) during 17th-21th June 2019.
I believe that Organizers and exhibitors need to try to reinvent the IoT events to make more attractive to visitors and generate qualified leads. We need to see an IoT event where IoT is present in every corner of the floor, in every stage, in every service (cafeteria, rest rooms, transportation, etc). We need to breath IoT every minute.
Otherwise the IoT events will continue driving away visitors and exhibitors and 'Saturn (AI) Devouring a Son (IoT).'
Thanks you all for follow me and read my articles.
In 2016 in my article “ The future of “The Internet of Olympic Games”, I considered Rio as the first Internet of Things (IoT) Olympic games. In Rio we could see how athletes, coaches, judges, fans, stadiums and cities benefited from IoT technology and IoT solutions and somehow changed the way we see and experience sports. Next year we will have opportunity to verify if my predictions for Tokyo 2020 will become a reality and we will name Tokyo as the first Artificial Intelligent (AI) Olympic Games.
During my presentation in Dubai, I explained the audience the incredible way IoT and AI technologies are impacting sports. I dedicated some time explaining how IoT and AI are playing an increasingly significant role in boosting talent, managing health and improving coaching and training. Today these technologies are already enabling athletes to improve performance, coaches to better prepare games, judges to fail less, fans enjoyed with new excited experiences. I also remarked the importance that teams clubs and cities collaborate to make the stadiums more secure and more exciting for fans.
I emphasized how we are creating smart things, the importance of use AI and IoT to make every thousandth of a second count for athletes and coaches and how AI and IoT are used to predict the future of a race, a match or a bet.
I introduced different examples how all sports are using IoT and AI, and of course I share my vision in 10-15 years from now. Can you imagine integrated virtual and real world for sports? Can you imagine mixed teams of robots and humans or super-humans playing new games?
I did not forget to talk about the challenges involved in building machine learning models in sports and the challenges that IoT and AI still have.
I used my speech to raise awareness to the attendants that there is also a dark side in these technologies. We cannot forget that Sport is also a business and therefore enterprises, Governments and individuals can make a wrong use of these technologies.
In summary, it was a great session in which I shared my point of view about:
- How we want IoT and AI transform coaches, athletes, judges and fans.
- How we want IoT and AI continue attracting people to the stadiums
- How we want IoT and AI transform Sport Business.
- How AI is changing the future of sport betting?
How we want IoT and AI transform athletes, coaches, judges and fans?
While the true essence of sport still lies in the talent and perseverance of athletes, it is often no longer enough. Therefore athletes will continue demanding increasingly sophisticated technologies and more advanced training techniques to improve performance. For instance, biomechanical machine learning models of players will predict and prevent potential career-threatening physical and mental injuries or can even detect early signs of fatigue or stress-induced injuries. It can also be used to estimate players’ market values to make the right offers while acquiring new talent.
Coaches are using AI to identify patterns in opponents’ tactics, strengths and weaknesses while preparing for games. This helps coaches to devise detailed gamelans based on their assessment of the opposition and maximize the likelihood of victory. In many leading teams, AI systems are used to constantly analyze the stream of data collected by wearables to identify the signs that are indicative of players developing musculoskeletal or cardiovascular problems. This will enable sports teams to maintain their most valuable assets in prime condition through long competitive seasons.
We tend to think that technology helps make the sport more just when we are victims or witnessed of unjust decision. That´s why we approve inventions like Paul Hawkins - creator of Hawk-Eye, a technology that is now an integral part of the spectator experience when watching sport live or more recently VAR in soccer.
The use of technology allows watch in real time multiple cameras, with aggregated info from sensors (stadiums, things and athletes) to make their decisions more accurate and objective.
We as spectators or fans need more transparency about the exercise’s difficulty, degree of compliance and final score. And we have the technology to do it.
The IoT and AI technology doesn't claim to be infallible - just very, very reliable and Judges also need to be adapted to new technologies.
Without fans, sports would find it difficult to exist. It is understandable companies are also targeting fans with IoT and artificial intelligence to keep them engaged whether in the stadium or at home.
How we want IoT and AI continue attracting people to the stadiums?
Within the stadiums, sports clubs and many leagues across the globe are incorporating inside and outside the stadium technologies to boost fans unique experiences for fans and not only the 90 minutes.
The challenge is how to combine what the oldest and newest supporters are looking to attend to the stadiums?
How will the stadiums of the future be? I read numerous initiatives of big clubs and leagues, but I am exciting about the future stadium of Real Madrid. I wish the club would allow me to advise them how to create a smart intelligent Global environment to provide each fan with an individual experience, know who is in the crowd, learn fan behaviors to anticipate their needs
How we want IoT and AI transform Sport Business.
“As long as sports remain a fascination for the masses, businesses will always have the opportunity to profit from it. As long as there is profiting to be gained from the world of sports, the investment in and incorporation of technology for sports will continue.”
I read an article warning about the new entirely new world order that is being formed right now. The author explained how 9 companies are responsible for the future of AI. Three of the companies are Chinese (Baidu, Alibaba and Tencent, often collectively referred to as BAT), while the other six are American (Google, Amazon, IBM, Facebook, Apple and Microsoft, often referred as the G.Mafia). The reason is obvious, as far as AI is about optimization using the data that’s available, these 9 companies will manage more of the sport data generated in the world.
Collaboration is needed now to stop this danger and to address the democratization of AI in sports. It is urgent companies and governments around the globe to work together to create guiding principles for the development and use of AI and not only in Sports. This mean we need regulating it but in a different way. We do not want AI becomes in the hands of a group of lawmakers, who are very well read and very smart people but overwhelmingly lack degrees in AI and IoT.
Will AI change the future of sport betting?
The impact of technology on sports cannot be specifically measured, but some technological innovations do raise questions about fairness. Are we still comparing apples with apples? Is it right to compare the speed of an athlete wearing high-tech running shoes to one without?
Whether we like it or not, technology will continue to enhance athlete performance. And at some point we will have to put specific rules and regulations in place about which tech enhancements are allowed.
There is a downside to advanced technology being introduced to sports. Machine Learning models are now used routinely to predict the results of games. Sport betting is a competitive sport itself among fans, but AI can substantially tilt that playing field.
I analyzed many IoT and AI companies for Sports in order to prepare my session. I am scare about the game result predictions capabilities but more scare about the manipulation of competition using AI algorithms with the Terabytes of data collected daily from IoT devices and other sources like social media networks, without the permission of the users.
The sport business market is generating billions of US$ every year but without control and education we could find future generation of ludopaths and a small number of Sports Service Providers controlling the Sports.
One of the more significant elements of AI and IoT is the rise in automation technology, with the use of robots in particular having risen substantially between 2016 and 2017. According to Statista, the worldwide shipment of robots has risen from 294,000 to 387,000 - a huge number in a relatively small period of time.
This rise in industrial robotics has led to an increased interest in the use of robots in our everyday lives as well. While this technology is being designed to make our lives easier, how do people feel about the rise of robotics?
The capability of robots in the near future
From a long-term perspective, as technology develops there is a very high ceiling on the tasks that robots can realistically perform. At present, however, robotics are mostly used in an industrial setting, particularly for manufacturing.
As this technology continues to develop, in the near future, many experts believe that robotics will be more capable at assisting with everyday tasks domestically and at work - particularly household chores and other manual tasks.
This increased capability of robots has led to a dividing of opinion amongst the public, so how do people feel about robots, and what tasks are people most comfortable with a robot performing?
What the public thinks of robots around the home
In a study of people’s opinions towards the increase of robotics, there was a mixed attitude towards this technological development. While 34% of those surveyed believed that robots would make everyday life better, 32% disagreed, believing that robots would instead disrupt their lives.
A considerable element of this opinion seemed to be rooted in a fear of job loss, with 22% of those surveyed suggesting this concern. There was also a far greater percentage of those who claimed they would trust a human over a robot (54%) than vice versa (14%), suggesting there is a generalised mistrust of robotics amongst the general public.
The study also shows that the women surveyed were more concerned about robots than men, with 34% of female respondents worried about the influence of robots, compared to 29% of men. Additionally, only 32% of women believed that robots would benefit everyday life, compared to a far greater 46% of men.
There was also a higher level of acceptance and trust towards robotics amongst the younger respondents in the survey, compared to the older interviewees, who displayed a bigger fear of robots than their younger contemporaries.
Perhaps because of this divide in opinion, there were very few tasks that a large number of respondents claimed they’d be happy to let a robot perform. Only household chores received a large percentage in favour, with 40% of respondents saying they would be happy to use robots around the house.
These numbers suggest that while researchers and business innovators are confident that robots will have a big part to play in the future, the general public is yet to be convinced of their role in our everyday lives.
When I ask people what they think the Internet of Things (IoT) is all about, the vast majority will say “smart homes,” probably based on personal experience. If I say that it is also about industries making using of data from sensors, then most people’s immediate reaction is to think of manufacturing. Sensors have been used for a long time in manufacturing, and the concept of using data generated at the edge to monitor and run automated processes is well understood.
This perception, however, is underselling the IoT. In practice, it can be applied anywhere.
The use cases for industries with “things” to monitor are easy to identify.
Manufacturing is one of the most obvious. Connected sensors can be used to monitor and manage the health of manufacturing equipment, identify root causes of defects and improve quality.
Health care has equipment that generates digital information about how patients’ bodies are working (e.g., blood pressure) and what they look like (e.g., scans). There are numerous opportunities to monitor people’s health more closely and accurately and catch signs of disease early, or even avoid it altogether.
The insurance industry is using telematics to monitor driving behaviour and assess the risk posed by individual drivers. Telematics also helps with the claims process because information from before a crash can indicate who is at fault, and images of a damaged vehicle can be used to assess whether the car should be written off or repaired.
The IoT also, however, has potential in industries that, on the face of it, do not really have “things,” such as financial services. Banks and other financial providers are extremely interested in the IoT, focusing on “things” which do not belong to the banks themselves, but to customers: mobile phones and payment cards, for example. Banks can improve fraud detection by notifying customers each time their cards are used – in real time – and also checking that the customer is with the card at the time. That, clearly, is a huge service for customers: no more cloning and no more fraudulent transactions.
A change in business model
A fundamental shift in business model is being enabled by IoT analytics: a move from products to services. For example, Rolls-Royce is traditionally considered an engine manufacturer. The company made and sold engines, then sold services to maintain those engines. Now, however, rather than pay for maintenance, airlines can choose to pay an hourly rate for the time that the engine is propelling the aircraft. In other words, it can pay for what it actually wants: the plane in flight at particular times. Increasingly individuals, too, are choosing to pay for a service, rather than goods, such as access to a car-sharing service, rather than owning a car.
This shift, however, has challenges for the service providers. If you are providing a service that includes a physical asset, you do not want to have to spend time and resources inspecting that asset. Instead, you want it to run itself as much as possible. The IoT allows providers to remotely monitor and collect data on all the important aspects of each asset – how it is performing, how it is being used and environmental factors, for example – and therefore automate much of its management.
The data collected from the IoT is only really useful when you can derive useful intelligence from it, and preferably in an automated way. This automation, however, requires intelligence, and that means artificial intelligence (AI).
The importance of AI – and the problem
This is one of the biggest reasons why the IoT is really taking off now: AI algorithms are becoming more usable. There is, however, still a problem. Most AI algorithms need huge amounts of data and computing power. They therefore rely on powerful servers and central data storage.
In computing terms, we humans perform most of our computation and decision making at the edge (in our brain) and in the (pre-)moment, referring to other sources (internet, library, other people) where our own processing power and memory will not suffice. This is more or less the complete opposite of the current AI algorithms, which tend to perform most of their calculations far from the data source, in servers, drawing on stored data.
To enable timely decision making in the world of IoT, you need to be able to deploy some of the cleverness (predictive models and decisioning rules) at the edge, closer to the “things” that you are managing. Some businesses are already doing this, whilst many others are still trying to figure out how to organise and make sense of the deluge of data available to them. Those at the forefront of combining AI and IoT have a huge opportunity to steal a march on their competition.
In my personal view, this is the biggest change in business models since the dot-com boom. And, as in the 1990s, there will be some big winners, and there will also be those who don’t quite get it right, and fall by the wayside.
by Jennifer Major, Head of IoT, SAS
This blog originally appeared as a SAS "Higgen Insights" Blog
Until recently, we knew unicorns were mythical creatures which made an appearance only in Greek literature, the Bible, and Marco Polo’s travels. While not a single unicorn was ever discovered in the real world, these days, we seem to be dealing with a whole bunch of them, especially when it comes to business.
Technology has played a crucial role in small and medium businesses, made startups fashionable. Today we have many unicorns trotting about the business landscape.
The unicorns are celebrated for their successes and business acumen. Essentially, a unicorn is a start-up that is valued over $1 billion. When you think of them, think about, AirBnB, Uber, Xiaomi or even Flipkart. These are the new set of businesses that have disrupted the market in their respected sphere. But companies rise and fall all the time, so one may be tempted to ask what is so magical about these creatures?
The term Unicorn was coined in a TechCrunch article by Aileen Lee of Cowboy Ventures.
Part of the charm lies in reinventing the business model. They find a better way to do business. It may be a new idea or an improvement over the existing one. They offer a vision; a glimpse of what the future may hold and have an intense desire to grow.
Fuelling these dreams through constant innovation and the ability to adapt quickly. Precisely where some of the giant falter. Large businesses are bogged by internal processes and complexities resulting in delayed decision-making, allowing a start-up to swoop in.
According to a study by CB Insights, there are around 175 unicorn companies globally.
The Unicorns and the Internet of Things
Many entrepreneurs have realized that IoT/IIOT technologies can level the playing field if they intend to dislodge industry giants. IoT Start-ups are looking to attract consumers or SMBs or large enterprises by increasingly relying on innovation on cloud and edge computing, IoT platforms, Artificial intelligence, IoT networks, IoT security or IoT devices. Advanced technology is a key differentiator but not the only one- A new business model to attract customers could also become the initiator of a new unicorn.
After five years of exploring the fragmented but rich universe of IoT startups, no new unicorn has yet appeared. The most promising startups have seen their light turned off behind the Tech and Industry Giants check books. Those who are still pursuing their dreams of being unicorns see that the market does not accompany and no longer rely on analysts' predictions.
With all this, we may not see any unicorn of IoT. However, if I had to bet on some startups then these are my suggestions.
The IoT Application Unicorn
My vote for the startup to become a unicorn in IoT Application category goes to: Uptake
Founded in 2014 by the CEO, Brad Keywell, that was also Co-Founder of Groupon, the company counts with a good number of investors. The company is stealing execs away from GE. (Uptake hiring several General Electric top digital executives) and have raised around $260 million since launching in 2014. Uptake was last valued at more than $2 billion, in fact, this startup is probably the first IoT unicorn. Uptake's revenue run-rate exceeds more than $100 million a year and future rounds of financing are expected.
LinkedIn profile: “Uptake helps industrial companies digitally transform with open, purpose-built software that delivers outcomes that matter. Built on a foundation of data science and machine learning, our vision is to create a world that always works — one where the machines and equipment we depend on daily don’t break, and industrial companies are once again the creators of economic growth and opportunity.”
WHY MY VOTE: Predictive analytics software is hot. The company sells to the mining, rail, energy, aviation, retail and construction industries and hopes to leverage data to improve safety, efficiency and productivity for their clients' operations. In spite his CEO has not accepted my LinkedIn invitation, no surprise to be honest, only 54% approve of CEO in glassdoor, the aggressive campaign against GE could launch the company this year. I like that his employees are sent directly to the field to observe fast hand the needs of its client base so they can really build software that solve real business problems.
ALSO FOLLOWING: FogHorn Systems a developer of “edge intelligence” software for industrial and commercial IoT applications..
The Hardware and Sensor Data platform Unicorn
My vote for the startup to become a unicorn in IoT hardware category goes to: Samsara
Samsara sells hardware and end-to-end solutions for fleet and industrial applications.
Samsara was founded in 2015 by CEO Sanjit Biswas and CTO John Bicket, who previously founded and led Meraki – a successful cloud networking company that was acquired by Cisco in 2012 for $1.2 billion. Samsara is based in San Francisco and was funded by Andreessen Horowitz (Raising $25M in funding). In May 2017, the startup announced that it had secured $40 million in a Series C funding round.
Sanjit Biswas, recognized that “They were definitely not the first to notice the technology trend behind the Internet of Things movement, but they realized no one was building products the way we did at Meraki, by combining hardware, software and cloud into an easy-to-use system”.
LinkedIn profile: “Samsara’s mission is to bring the benefits of sensor data to the organizations that drive our economy—from transportation and logistics to construction, food production, energy, and manufacturing—and to improve the safety, efficiency, and quality of their operations.”
WHY MY VOTE: Although not on this occasion his CEO accepted my invitation to LinkedIn, I like that Samsara disrupts the traditional sensor model with an integrated, software-centric solution. The products combine plug-and-play sensors, wireless connectivity, and rich cloud-hosted software, all tightly-integrated for simple deployment. Samsara is used by customers in a wide variety of industries, from transportation and logistics to energy and manufacturing. The company offers various solutions including fleet, ELD compliance, trailer, industrial, temperature, and power.
By focusing Samsara system for ease of use and streamlining deployments in the field, the teams were able to make several design choices that help them deliver a 10 times overall improvement over traditional solution. Samsara was in the list of “The 20 Fastest Growing IoT Companies” and is demonstrating is able to capture customers in the fleet management and logistics industry against Verizon. The challenge is growth globally not only in US.
ALSO FOLLOWING: Geotab
The IoT Connectivity Unicorn
My vote for the startup to become unicorn in IoT connectivity category goes to: SigFox
LinkedIn profile: Founded in 2010 by Ludovic Le Moan and Christophe Fourtet, the company is headquartered in Labège near Toulouse, France’s “IoT Valley”. Sigfox provides connectivity for the Internet of Things (IoT). The company has built a global network to connect billions of devices to the Internet while consuming as little energy as possible, as simply as possible.
WHY MY VOTE: There are drastic limitations in the Sigfox global network. I could say that this will be the network of the stupid devices, but if they improve the network, ensure scalability, quality and security and allow interoperability with their competitors that will connect the most intelligent devices, then this startup will continue empowering companies to create new innovations on the IoT.
Sources announced that Sigfox is in peril as Senior Execs exit. The company has reacted but the pressure to growth in revenues and network deployment is high. Compete with the Telco Incumbents and the mighty powerful GSMA is a Hercules' own task. Some help from the French government and the EU will be appreciated, so the company can not be acquired. The Board and investors should guarantee the money the company need to comply with the high expectations of the market. In my opinion the window of opportunity is 2020. They have 2 years to demonstrate they can become the IoT-Connectivity unicorn.
The IoT -AI Platform Unicorn
My vote for the startup to become a unicorn in IoT/AI platform category goes to: C3IoT
I have written a lot about IoT platforms and I think that most startups will disappear in 3-5 years or they will never become a digi-unicorn. But there is a special case that can reach the end of the road. Mainly for who is behind, my old CEO Thomas Siebel.
LinkedIn profile: C3 IoT is an AI and IoT software platform provider for digital transformation. C3 IoT delivers a comprehensive and proven platform as a service (PaaS) for rapidly developing, deploying, and operating large-scale AI, predictive analytics, and IoT applications at scale for any enterprise value chain in any industry. At the core of the C3 IoT offering is the revolutionary C3 Type System—an extensible, model-driven AI architecture that dramatically enhances data scientist and application developer productivity. C3 IoT also offers configurable, high-value SaaS products for predictive maintenance, fraud detection, sensor network health, supply chain optimization, energy management, and customer engagement.
WHY MY VOTE: In January 17, 2018, the company announced a new round ($100 Million) of financing by existing investors TPG Growth, Breyer Capital, Sutter Hill, Pat House, and Thomas M. Siebel.
After the sale to Oracle of its CRM business, Tom, could with this new adventure, return to be relevant in the industry and I think he will not allow his new baby to be acquired. Not at least until he makes C3 IOT a unicorn.
ALSO FOLLOWING: The competition in the AI-powered industrial IoT sector is brutal, but the opportunity is big enough that the 10 startups highlighted here still have room to maneuver and time to scale up. I also keep an eye on them because one or more could well be the next unicorn in this hot market.
Not being a IoT unicorn is not a tragedy. Many companies that started in the M2M business or that have been born in the heat of the IoT are doing well. Their employees are happy and satisfied customers guarantee a long life.
In my post “Is it possible to democratize the Internet of Things? How to avoid that a handful of companies can dominate the IoT”, I pointed out the opinion of Ryan Lester (Director of IoT Strategy, Xively by LogMeIn company acquired by Google). Ryan alerted that IoT feels only achievable to those companies with unlimited resources to make it happen. Looks like, the facts have given him the reason.
Yes, I admit, I would like to see unicorns in IoT. I would also like startups not to be obsessed with this issue and not throw in the towel too soon. If they are acquired, their legacy is very likely to be lost soon and in exchange for money they will have lost the opportunity to contribute to changing the world with their unique innovation in IoT.
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The dream of making money with IoT, AI and Blockchain
Have you ever think about how could you make money with the Internet of Things (IoT) or Artificial Intelligence (AI) and of course with Blockchain? What would happen if you could use the three of them in a new business model?. Apparently, Success, Success and Success.
In the next sections I provide information of some business models implemented with these three technologies.
IoT Business Models
As IoT moves past its infancy, certain trends and economic realities are becoming clear. Perhaps the most significant of those is the realisation that traditional hardware business models just don’t work in IoT. Take a look at “The top 5 most successful IoT business models” that have emerged as particularly effective applications for IoT.
If any of you is building an IoT product, this article ” IoT Business Models For Monetizing Your IoT Product” show how to make money with IoT.
Zack Supalla, the founder and CEO of Particle, an Internet of Things (IoT) startup, suggest “6 ways to make money in IoT”.
Finally, in “How IoT is Spawning Better Business Models” we can read three ways companies like Rolls Royce, Peloton, MTailor or STYR Lab was rethinking their business model and have created revolution in the marketplace.
Blockchain Business Models
It sounds repetitive, but yes "Blockchain technology may disrupt the existing business models”. The authors´ s findings concerning the implications of blockchain technology for business models are summarised in the following picture.
Do you think that blockchain will likely to cut into big-players’ revenues? Then, this article: “New Blockchain-Based Business Models Set to Disrupt Facebook and Others”, is for you.
If you are ambitious and you are planning to build a viable business on blockchain, then read “Building an International Business Model on Blockchain”.
I am also an advocate of the coming era of decentralization (at least in my most optimistic version) and Blockchain is a step more to create value when the End of All Corporate Business Models will arrive.
AI Business Models
Companies from all industries, of all shapes and sizes are thus faced with an important set of questions: Which AI business models and applications can I use ? And what technologies and infrastructures are required?.
It seems that we all are convinced that artificial intelligence is now the most important general-purpose technology in the world that can drive changes at existing business models. Not surprised then, that AI is Revolutionizing Business Models. The “data trap” strategy, that in venture capitalist Matt Turck’s words consists of offering (often for free) products that can initialize a data network effect. In addition, the user experience and the design are becoming tangibly relevant for AI, and this creates friction in early stage companies with limited resources to be allocated between engineers, business, and design.
New Business models with the intersection of IoT, AI and Blockchain
With IoT we are connecting the Digital to the Physical world. Connected objects offers a host of new opportunities for companies, especially in terms of creating new services. The amount of data generated by the billions of connected objects will be the perfect complementary feed to many AI applications. Finally, blockchain technology could be used to secure the ‘internet of things’ and create smart contracts in a decentralized infrastructure that boost the democratization of technology and creation of sustainable communities.
You must remember that new business models that include IoT, AI and blockchain need among other characteristics: Volume and Scalability. Volume of devices, Volume of data, Volume of customers, volume of developers and powerful ecosystems to escalate.
Good luck in your search and implementation of your new business model.
Thanks for your Likes, Comments and Shares
As mobile devices become smaller and smarter, artificial intelligence (AI) is steadily gaining significant popularity among users and developers alike. Every now and then mobile developers around the world are working assiduously to develop and employ the emerging technology in mobile app development which is aimed at improving the way users interact with apps. Already, there are several signs, indications, and signals revealing that the AI will dominate the future of mobile apps.
In the tech world, AI is believed to hold immense potential and Indian app developers are gradually embracing and integrating this relatively new technology into their mobile app development seeing that it presents the best bet for the future. Already, the current mobile app market is consequently being flooded with new mobile applications and models leading to the creation of new and improved mobile app development services.
Even if you don’t notice it, AI is already around you and it has come to stay. In the past, this technology was only regarded as a futuristic concept for movies but today it has become a reality. And there is no better time to get involved with the trend than now. Interestingly, many Indian app developers are beginning to discover that mobile development and AI share common features and can make a perfect match. Obviously, there are lots of possibilities that can be accrued from the advancement of AI.
Combining artificial intelligence (AI) with mobile development will result in the creation of intelligent apps. Basically, this is concerned with the design and development of mobile apps that have the ability to learn, think logically, and solve problems. In a bid to effectively engage users, transform customer experience, and ultimately retain them, many app developers and top app development companies in India alike are already working to integrate the technology into their mobile applications.
The impact of AI on mobile development
Many tech and industry experts are suggesting that AI will be a major trend in various sectors, particularly in the mobile application development. To this end, everyone in the industry including, startups, growing businesses, and top app development companies are investing in artificial intelligence (AI) with the aim of providing efficient customer services and bring about a positive change. While some are incorporating the technology in the form of chatbots, others are looking to embed it into the infrastructure of their mobile app development as assistants to create smart apps.
Already, some tech giants like Uber, Amazon, eBay and the rest are making use of AI and judging from the look of things, it is a meaningful realization. With this new technology, Indian app developers are helping businesses support their customers with relevant, seamless, and personalized services. With time AI in mobile apps will understand customer behavior, thanks to its ability to effectively gather massive amounts of data from previous customer interactions and learn them. Apart from helping to bring customers closer to the business, AI-enabled apps are also helping to enhance customer interaction thereby boosting customer retention rate.
Basically, Indian app developers are finding ways to make use of the data that businesses are getting via mobile devices, online traffic, and point-of-sale machines to impact both business and consumer experience with AI’s influence. As more artificial and machine learning-driven apps make their way into app stores, things will change in the way and manner people communicate and interact. In a bid to create more insightful, context-rich experiences, the algorithms will be able to sift through the obtained data, find correlations and trends and get the apps adjusted to suit the personal needs of the user.
Obviously, there is much to achieve with these artificial intelligence algorithms in mobile app development. There is a wide range of AI-based mobile app development projects undertaken by Indian app developers. With the development of personal assistants, chatbots, and other artificial intelligence features, many big companies are already reinventing their user experience (UX) strategies. And in order to remain ahead of the competition, other businesses are following suit.
The future of AI-driven apps
Now that the entire ecosystem has been enhanced with regular and active access of data management and delivery, many Indian app developers will be employing AI which will become an essential necessity for robust mobile app development in the near future. Basically, there is every need for systems featuring data governance, data security, and metadata management to be fast and robust in indexing and cataloging.
Here are other ways through which AI development will impact the industry
It’s no longer news that businesses are adopting cloud computing technology to improve their services. It may interest you to know that Indian app developers will not only be adopting this technology to enhance development but will also be using it to troubleshoot errors in AI-driven apps.
As already mentioned, many businesses are already seeking to enhance customer interaction by investing mobile app development. However, integrating AI will help to boost convenience for customers and also help businesses reach a wider target audience. Businesses will not only be using AI-driven apps to observe internal communications, but these will help to simplify business activities in several ways.
Today, people are using location-based apps to search and find virtually anything they need in any location. AI-enabled apps will be synchronizing users’ interest, as well as their frequent searches to create results. Basically, these apps will be using obtained data to provide more desirable suggestions. Already, Google users can easily search for promotion offers, nearby restaurants and department stores with their smartphone via Google Assistant or Siri.
Internet of Things (IoT)
In recent times, there has been an increase in a range of new technologies due to the desire to further increase the mobility of users. IoT is one of such recent developments making waves in the industry. No doubt, AI will be enhancing the development of IoT helping smartphone users manage real-life events in the near future.
AR and VR
Together with AI, Augmented Reality (AR) and Virtual Reality (VR) is taking both the gaming and entertainment industry by storm. The release of Oculus Rift, Google Cardboard, Samsung Gear VR and other numerous models of VR devices are already influencing the industry.
Artificial intelligence is one field of science and technology that is wildly becoming popular. Artificial intelligence involves the introduction of human level precision and accuracy to bots. Artificial intelligence has found application by top app development companies in every field of life; from medicine to tourism, from engineering to production. Artificial intelligence has helped to automate our work and has made life easier. Below are 10 most popular artificial intelligence apps for iPhone/iOS;
- Google Allo:
Google Allo is one of the best artificial intelligence apps for messaging available for iOS users which can be used in iPhone app development. It allows users to take action on their smartphones using their voice; such as voice to text input. The app comes with emojis and stickers that allows users to easily express their emotions and feelings. It also has a smart reply feature. The app also provides an incognito mode option that allows users to hide their search history from their smartphone.
- ESLA Speak:
Perhaps you want to learn how to speak and write English and don't have an English teacher close by. No need to worry, ELSA Speak is one of the best and most popular iOS apps for iPhone app development that helps users to learn English Language in less than 4 weeks. With this app, English speaking users can also improve their pronunciation of English words and phrases. The app comes with English test designed by experts, which allows users to test and estimate their progress. The app also comes with day by day full progress report.
Perhaps what you need is a personal assistant that can help to arrange and keep track of your documents, images and act as reminder for your scheduled event, then Cortana is one of the your best iOS artificial intelligence app that is of importance in iPhone app development that can perform this function. This artificial intelligence app can easily sync between your mobile phone and laptop, so regardless where your files are kept or where your schedule is listed, Cortana can perform its function perfectly well. Cortana can provide its users with their favorite TV shows, series, sports, artists etc.
Robin is an iOS artificial intelligence app that combines the function of a personal assistant and a voice-to-text app. Users can use this app to write text without having to touch their mobile phone, only by the use of voice. It allows users to set reminders for important events or work that needs to be done. It also allows users to get GPS navigation, hence locating places more easily.
Math is one of the biggest challenges for students all around the world. Finding a quality math tutor to help out with homework is equally as difficult as the math problems given. But Socratic is here to help. Socratic is one of the most popular and smartest math homework helper available on iOS that is very important in iPhone app development. Socratic will help users with their math homework in good time and with expert technique. It artificial intelligence feature is one of the smartest. All that is needed is for users to take a picture of their homework using the camera app and instantly the AI provides you with concepts that can assist in solving the problem.
- Edison Assistant:
Also known as easilyDo Smart assistant app, Edison Assistant is an artificial intelligence app that works as a personal assistant and informs users about traffic conditions between where they are and their destination. It informs on better, shorter routes devoid of traffic that users can take to get their destination or when the best time is to leave their present location to their destination. As a personal assistant, it helps to delete multiple contacts from users smartphone and also help to book ticket to hotels, events, movies, restaurant and so on.
- Siftr Magic:
Siftr Magic is a very effective artificial intelligence iOS app that is of importance in iPhone app development, which helps users free up space on their smartphone by helping to clean up junk photos and videos. Photos typically taken by smartphone tend to be large in size and they easily fill up space. Finding the images to delete to free up space may be quite difficult. Siftr Magic uses artificial intelligence to sift through thousands of images in seconds and identify duplicate images or images that are not relevant and needs to be deleted. The app does not delete images on its own, it only makes recommendation based on the content of the images and the number of times it has been viewed.
It also helps to identify and remove battery draining apps or problems, so as to improve battery life.
- SwiftKey Keyboard:
This is the most popular artificial intelligence iOS keyboard app that helps to automatically correct wrong words or sentences. Aside from its auto-correct feature, the app comes with the ability to change font style, color, size, theme, and design. It comes with emojis that can help users express feelings.
Replika is one of the most advanced iOS artificial intelligence app that is of importance in iPhone app development. It is known as the good friend app as users can have an endless conversation with the app. The app is so advanced that having a conversation with it appears like having a conversation with a real friend. What's more, Replika has the ability to, over time, learn the preferences of the user, therefore its conversation changes from being generic to become more specific and personalized. Replika is your best friend on mobile, and it is available anytime you need it 24/7.
The app also comes with a notepad, allowing users to save notes and memories, which will be easily available at any time.
- Seeing AI:
Seeing AI is one of the most effective and advance artificial intelligence iOS app that is built for visually impaired users. This app is giving hope to visually impaired individuals, allowing them to interact better with their surroundings. Using the phone camera, Seeing AI has the ability to read signs, letters, identify people and relay it back to users. Visually impaired people can understand text, recognize setting, and even know what the weather looks like. One of the most impressive features of the app is its ability to recognize people's emotions, therefore users can know how people around him/her feels.
Those who follow my articles know that I like to make comparisons between the IoT and TV shows and movies. For this article, I have selected the famous show "The Walking Dead" (TWD).
When preparing this article, I read this piece “The Real Walking Dead: Surviving the Software-Defined Zombie Apocalypse” by Scott Noteboom and I thought, well, I am not alone. As Scott, I see a lot of similarities between IoT technology and biology.
Many companies are thinking about their survival after the apocalypse that will be produced by the mix of IoT, AI and Blockchain. CEOs, must make decisions that prevent their companies from disappearing or worse becoming walking dead. And one of the most important will be choose their travel companions well, in order to build a strong ecosystem capable of resist the most adverse scenarios one might think.
IoT solutions that companies need to implement to survive the apocalypse are composed of many apparently simple blocks (devices, protocols, edge computing, fog computing, communication networks, platforms, cloud, analytics, AI, Machine Learning, blockchain, security, applications). But the selection of the vendors and the integration of all of them in the business processes, systems and organizations of companies is complex and there are few companies who can boast of having achieved it.
You probably are tired of hearing that the IoT is very complicated and the ecosystem is very fragmented. You feel that many will become walking dead. But, no one has the crystal ball to know who will be the IoT companies are going to continue within 10 years, not even within 1, 2 or 3 years. Some of them are perhaps in the phase of becoming, when just a couple of years ago they were in good health and of they enjoyed the sympathy of the analysts.
If you have been living in a sanctuary, isolated, it will not last for a long time. You will receive soon the visit of survivors and walking dead. You have to decide to accept or fight the survivors and you must protect your community against the zombies.
The good news is that you are not alone. During the last 5 years I have lived 24x7 by and for the IoT. I have been monitoring and analyzing the IoT landscape. I have seen many IoT start-ups appear and some disappear. We have seen large companies make absurd purchases, or sell IoT businesses when they have not been able to obtain the expected return.
That´s why I am able to provide wise advice and recommendation to avoid from being trapped by partnerships with potentials Walking Dead of the IoT and help you build robust and scalable IoT solutions.
Do not walk blind alone among The Walking Dead of IoT
The past decade witnessed the emergence of two of the most significant technologies- virtual reality and Internet of Things.
Virtual reality refers to the use of technology to counterfeit an environment where the digital world seems real. It aims to place the user inside an experience, consequently enabling them to interact with the 3D worlds. On the other hand, Internet of Things is all about making real-world objects connect and manipulate in the digital world.
While both these technologies work to bring augmented ease to our lives, it's the convergence of the two that offer the most promising opportunities. Becoming quickly enmeshed in the prevailing times, the two disruptive technologies have largely revolutionized the industrial platform.
The meeting point of the two technologies boasts of immense potential. Let’s understand this with some examples.
The encroachment of telepresence depicts the colossal potential of the confluence of IoT and VR. If we talk about a typical video conference, the system includes a monitor screen, sound system, and codec. You can add additional speakers or a projector screen to improve the video conference experience. However, with telepresence, it is not the same.
With an aim to extend near lifelike audio and video quality, telepresence leverages compound multi-codec, multi-monitor, and multi-speakers. It has successfully transformed the way we can communicate with others over long distances. It offers the ability to look and move freely within a real-world environment, giving the illusion of actually being present there.
Telepresence has efficaciously eliminated the time and financial constraints related to travel. Offering all the benefits of a face-to-face interaction, it has made long-distance meetings exceedingly convenient.
2) Virtual Smart Cities
An increasing number of cities around the world are looking to become “smart” in order to improve comfort, reduce costs and consumption of resources and augment the quality of life of its citizens. Consequently, for the concept to materialize, it is significant that Internet of Things along with its accessibility to public grows. This will enable adequate accurate data to be amassed in cities for analysis and forecasting.
Moving ahead, these cities need to be integrated into a well-controlled virtual environment. This will allow an accurate analysis of the prevailing city conditions as well as help in making predictions of the impending future scenario. Thus, any kind of risk or disaster can be effectively monitored to simulate its effects.
The union of VR and IoT technologies has greatly assisted the healthcare field by bringing improved ease to patients as well as doctors. A competent example of this is robotic-assisted surgery, which has been in use for quite some time now. Also known as da Vinci Surgical System, it allows the surgeons to perform a least invasive surgery. A camera along with a few tools is inserted into the body through a relatively small opening that allows the surgeon to get a full view of the operating area without exposing the patient to the ordeal of a large incision.
The system includes a 3D HD vision system and small wristed devices that revolve and bend much better than the human hand, thus enabling improved vision, control, and accuracy.
But, this is just the beginning. It is anticipated that VR surgeries will soon control real da Vinci systems, permitting surgeons to operate on patients while sitting in their offices.
Considering the potential of the two technologies, more and more companies are investing into the development of new applications of both virtual reality and internet of things and because of that, in past several years so many IoT App development companies has been evolved in the market. In the following year, it is predicted to see a growing number of integration of smart objects within virtual simulations, for purposes such as leisure, training, or damage prevention.
Believe it or not, but the possibilities that the Internet of Things, IoT brings to the table are countless. The internet of things, IoT continues to be the next big thing in technology, and now the new phase of the internet of things is pushing everyone hard to ask questions about the data collected by sensors and devices of IoT.
Undoubtedly, the internet of things, IoT will generate a tsunami of data, with the swift expansion of sensors and devices connected to the IoT. The sheer volume of data being produced by the internet of things will rise exponentially in the upcoming years. This generated data can provide extremely valuable insight to figure out what’s working well and what’s not. Moreover, the internet of things, IoT, will point out the issues that often arise and provide meaningful and actionable insight into new business opportunities and potential risks as correlations and associations are made.
Examples of IoT Data:
- Data that improves productivity of industries through predictive maintenance of equipment and machinery
- Data that assists smart cities in predicting crime rates and accidents
- Data that creates truly smart living homes with connected devices
- Data that provides doctors real-time insight into information from biochips to pacemakers
- Data that gives critical communication between self-driven automobiles
That’s great news, but it’s not possible for humans to monitor, analyze and understand all of this data using traditional methods. Even if they reduce the sample size, it will simply consume too much of their time. Undoubtedly, finding actionable insights in terabytes of machine data is not a cakewalk, just ask a data scientist. The biggest challenge is to find ways to analyze the deluge of performance data and information that the internet of things, IoT devices creates. The only possible way to keep up with the terabytes of data generated by IoT devices and sensors and gain the hidden insights that it holds is using Artificial Intelligence, commonly known as AI.
Artificial Intelligence (AI) and IoT
Artificial intelligence, also known as machine intelligence (MI) is the intelligence that is exhibited by machines or software. John McCarthy, the person who coined this terminology back in 1955, describes it as "the science and engineering of making intelligent machines". In a nutshell, AI is a branch of computer science that emphasizes the creation of an intelligent machine that thinks intelligently, the way intelligent humans think and works and reacts like humans.
In an IoT environment, Artificial Intelligence (AI) can aid business enterprises take the billions of data points they have and prune them down to what’s really helpful and actionable. The general principle is akin to that in retail applications i.e. review and analyze the data you have collected from different sources to find out similarities or patterns, so that better business decisions can be made.
To be able to figure out the potential risks or problems, the collected data has to be analyzed in terms of what’s normal and what’s not. Abnormalities, correlations, and similarities need to be identified based on the real-time streams of data generated. The collected data combined with Artificial Intelligence makes life easier with predictive analytics, intelligent automation, and proactive intervention.
Artificial Intelligence in IoT Applications
- New sensors will enable computers and smart devices to “hear,” gather sonic information about the user’s ambience
- Visual big data will allow computers and smart devices to gain a deeper insight of images on the screen, with the new AI app that understands the context of images
These are some of the promising applications of Artificial Intelligence in the internet of things, IoT ecosystem. The potential for highly personalized services are countless and will dramatically change the way people live. For example, Amazon.com can suggest what other books and movies you may like, helping Saavn and Gaana to determine what other songs you may love listening, and your family doctor would receive notification if you’re not feeling comfortable.
Here Are Some Challenges Facing AI in IoT
- Artificial Stupidity
- Ethical and legal Issues
Gartner has predicted that by the end of next year, 6 billion connected devices will be requesting support, which means that processes, technologies, and strategies will have to be in place to respond to them. It is important to think of connected devices less as ‘things’, but more as customers or consumers of services in themselves. The need for Artificial intelligence, AI will become more prominent at the stage when the number of connected devices and sensors increase manifold.
Hope you find this post helpful. If you did, share it with your friends and colleagues. For AI and IoT Courses Online, you can do some research on Google to find the best institute that suits your needs and budget.
For any query related to this post, you can comment down below. Thanks for your time.
Only then we will be able to know that AI is helping us like Iron Man's Jarvis or planning to eradicate us like Terminator!!
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