With a wave of investment, a raft of new products, and a rising tide of enterprise deployments, artificial intelligence is making a splash in the Internet of Things (IoT). Companies crafting an IoT strategy, evaluating a potential new IoT project, or seeking to get more value from an existing IoT deployment may want to explore a role for AI. Artificial intelligence is playing a growing role in IoT applications and deployments,12 a shift apparent in the behavior of companies operating in this area. Venture capital investments in IoT start-ups that are using AI are up sharply. Companies have acquired dozens of firms working at the intersection of AI and IoT in the last two years.
This story was produced by the WIRED Brand Lab for Deloitte. Click here for the expanded article, including footnotes, on Deloitte.com. The Internet of Things is getting smarter. Companies are incorporating artificial intelligence--in particular, machine learning--into their IoT applications. With a wave of investment, a raft of new products, and a rising tide of enterprise deployments, artificial intelligence is making a splash in the Internet of Things (IoT).
The Internet of Things (IoT) is getting smarter: companies are incorporating Artificial Intelligence (AI) -- in particular, machine learning -- into their IoT applications and seeing capabilities grow, including improving operational efficiency and helping avoid unplanned downtime. Companies are finding that machine learning can have significant advantages over traditional business intelligence tools for analyzing IoT data. With the above capabilities enabled by AI, its powerful combination with IoT technology is helping companies avoid unplanned downtime, increase operating efficiency, enable new products and services, and enhance risk management. In a number of sectors, unplanned downtime resulting from equipment breakdown can cause heavy losses. And "predictive maintenance" can greatly help mitigate or reduce such losses.
With the trend of advancement, a range of new products and competitive enterprise deployments, artificial intelligence is creating a storm in the Internet of Things (IoT). Companies are willing to top in the race by drafting strategies for IoT, reviewing more projects on IoT and receiving more values from the current IoT deployment using AI. With the basic understanding of flow diagrams along with trends and predictions, the AI and IoT help get the clear idea for the further research. Sometimes AI and IoT are interpreted as the wide concepts and so we provide brief definitions for the same. Embedded technology of the physical objects that are networked for communication within their internal or external workspace.
IoT is hugely helpful in predicting accidents and crimes. It finds massive application in healthcare where doctors can get valuable insights into information from pacemakers or biochips. The vision of a smart home filled with connected appliances is possible only through IoT. There is a play of huge amount of data in this regard. It is highly implausible for us to achieve these using traditional data processing methods.