In today's fast-paced digital world, disruptive technologies like IoT and artificial intelligence (AI) are transforming every aspect of a business and society more profoundly. However, these technologies hold more potential in the areas where their capabilities get molded together. Dubbed as AIoT, this blend of AI and IoT is an amazing tool, both at the Edge or in the Cloud. This means with the proliferation of IoT tools, devices, and sensors, the AIoT platforms can bring improved business models, enhanced efficiency, meet growing demand, and instill better customer experiences. For instance, we know that data (telemetry data) amassed from IoT sensors is governed by cloud or edge architectures.

Artificial Intelligence technologies and capabilities are driving digital transformation, growth, and opportunity in nearly every sector. In fact, a report by AlphaBeta urges Australia to double its pace of artificial intelligence and robotics automation to reap a $2.2 trillion market opportunity by 2030. So, why is it that AI can have such a massive impact, and should your organisation jump on the bandwagon? The short answer is that the window of competitive advantage will be small, and if you don't jump through it, one of your competitors will. There's much to be gained by using AI to improve business outcomes.

Your business doesn't need to be a billion-dollar, multinational company like Walmart, to make use of Big Data, artificial intelligence, etc. In fact, learning how to use this technology could be a distinctive advantage for a small business too. They assume that Big Data and artificial intelligence is reserved exclusively for large companies. That couldn't be further from the truth. The majority of techniques used in Big Data and the Internet of Things (even some artificial intelligence) don't require a large budget or a huge staff.

HYDERABAD: Tucked away in a little corner at Koramangala, Bengaluru, is a medical technology startup, SigTuple, that has built a device to digitise images of blood captured by a microscope and aid analysis through its cloud-powered engine. This, the founders believe, will help automate diagnosis, as they work towards branching into chest x-ray and retinal scan analyses. After being adapted in technology companies, artificial intelligence and machine learning are now being used in diagnosis and pathology by startups which are trying to increase efficiency and reduce redundancy in the world of healthcare. And, they are gaining investor attention -- these include Kalaari Capitalbacked Advenio Technosys, Bengaluru-based Spectral Insights and Cardiac Design Labs, among others. Founded in June last year, SigTuple is backed by Flipkart founders Sachin and Binny Bansal, and Accel Partners.