It’s unimaginable to think machines mimic user behavior and make intelligent decisions faster than human beings. Thanks to Internet of Things (IoT) technology, which can sense and collect data quickly, and Artificial Intelligence (AI) technology, which can analyze data in less than a second. Incredible technologies are changing the world with innovative use cases.
The blend of these two technologies, AIoT (Artificial Intelligence of Things), revolutionizes every industry vertical with unique benefits. Turning Sci-fi into reality, AIoT applications and extensive benefits take connected world concepts beyond imagination, which we will discuss in detail in the blog. Let’s dive in!
What is AIoT?
AIoT unites two advanced technologies, AI and IoT, enabling systems to collect data and drive insights at scale. Leveraging machine learning, deep learning, and neural networks, AIoT manages and interprets data to identify patterns, anomalies, and new trends that are impossible for the human brain in a matter of seconds. Hence, connecting with one of the top AI companies enables AIoT systems to be made more responsive and efficient.
AIoT works with AI integration in infrastructure that is connected with IoT networks. It works in two modes- cloud-based AIoT and edge-based AIoT. Cloud-based AIoT manages and processes data collected from IoT devices through cloud platforms. On the contrary, edge-based AIoT involves data collected from IoT devices moving into processing at the edge, which reduces excessive data movement.
Either way, AIoT is deployed, the immense potential of AIoT increased its market size to $9.53 billion in 2023 and is projected to grow to $46.39 billion by 2030 at a CAGR of 9.53%—the continuous advancements bring abundant business opportunities to the table.
What are the benefits of AIoT?
The blend of transformative forces is delivering an array of advantages spanning across various industry verticals. The benefits that businesses will reap with AIoT use cases are as follow.
Improve operational efficiency
IoT devices generate massive operational data that ML tools analyze using computational prowess. The real-time analysis optimizes resource allocation with operational insights and issues identification and enables task automation of repetitive jobs.
This way, businesses can provide better services as AIoT handle repetitive jobs. Also, vision-based quality control of automated tasks ensures operations are optimized according to government norms, thereby guaranteeing operational efficiency.
Minimize expenses and maximize savings
AIoT acts like a crystal ball for machines with its predictive maintenance. Continuous monitoring ensures the machines or equipment get required maintenance ahead of breakdown, which reduces downtime. Also, no human involvement and remote monitoring help avoid costly repairs, which translate into huge savings.
Additionally, AIoT ensures efficient utilization of resources that eliminates unnecessary expenses. Smart buildings with light and temperature auto-control based on occupancy help save resources and increase savings.
Foster informed decision-making
As AIoT collects data using IoT and analyzes it using AI technology, it uncovers valuable insights hidden in plain sight. Thereby, businesses can make data-driven decisions that further enhance competitiveness. For example, the healthcare industry uses AIoT systems to analyze patient’s health histories before prescribing treatment plans.
Another example in the retail sector is that inventory data collection by AIoT systems determines which products are selling fast and which aisles need to be restocked immediately. The data-backed decisions eliminate out-of-stock inventory that delivers the best customer experience.
Hyper-personalization to achieve perfection
As personalized experience has become a need of the hour for every B2C or B2B business, AIoT implementation is gaining traction. AIoT devices help offer tailored experiences with intelligent, customized recommendations. Consider personalized suggestions for movies, TV shows, and others by leading streaming services such as Netflix, Disney+ Hotstar, and others. The content recommendations allow customers to get suggestions according to their preferences.
Smart homes intelligently analyze users’ preferences for temperature, and after collecting climate data, light and temperature are adjusted accordingly.
Safety is rest assured
AIoT-powered systems are performing great in surveillance or threat detection, thereby contributing to the security of the home and city. In smart homes, AIoT technology can identify actual threats and false alarms with its great sensing power. Smart buildings use technology for video surveillance that recognizes images in real-time and detects unexpected scenes.
For example, Walmart has installed AIoT-powered video surveillance cameras that utilize image recognition technology at checkouts to find out about thefts. Weapon detection or intrusion event detection is also possible with AIoT integration.
Real-world AIoT applications transforming various industry verticals
The real-life examples of AIoT help you know how businesses tap the potential of the technology and cherished grandeur success. They are:
- Amazon Go concept is made possible with AIoT systems wherein IoT devices scan the items that are added to the cart and purchased by the users. Later, they auto-deduct the amount from their digital wallet as the users move out of the store.
- Alibaba Cloud built an AIoT-driven ET city brain system to maximize China’s metropolitan public resources. The system collects and processes data streams to report accidents rapidly, auto-adjust traffic signal time, and reduce ambulance arrival time.
- Tesla autonomous cars have ultrasonic sensors, external cameras, and onboard computers, which are followed by deep neural networks to analyze data. The self-driving capabilities of the vehicles will bring hands-free driving in the near future.
- London City Airport integrated AIoT everywhere, which allows monitoring every aspect of the facility, including cabin crew checking passengers’ location, gate information updates, and other activities. Also, passengers can instantly check flight status and other information accurately.
What does the future hold for the fusion of two technologies in AIoT?
AIoT is one of the latest AI trends that is reshaping the world with IoT potential. From oil and gas to manufacturing and retail, the sectors are transforming with innovative use cases of AIoT technology. The latest developments and epic success driven by AIoT are making businesses adopt AIoT and stay ahead of the game.
Stand at the convergence of IoT and AI technology to leap forward and make your business future-proof. Also, dipping your toes in AIoT app development with expert AI developers is a good way to get started. Partner with a reliable AI development company right away to experience a paradigm shift with AIoT.