The value of data is increasing, and that value is stimulating the Internet of Things (IoT) Advanced Analytics Market, with the emergence of accessible out-of-the-box and off-the-shelf machine learning (ML) and artificial intelligence (AI) solutions. Vendors are now easing access to ML and AI toolsets by expanding availability through deployment options that include the edge, on-premises, cloud, Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS). Global tech market advisory firm, ABI Research, finds that the IoT ML and AI market will reach US$1.09 billion in 2020 and grow to US$10.6 billion in 2026. Edge ML/AI is more prevalent in manufacturing and industrial segments, where there is an immediate need to assess, transform and augment data as it is being generated through functions of quick pattern recognition, labeling, and protocol optimization. "The IoT Edge Advanced Analytics Market is essentially operationalized ML and AI products and services targeted at Operational Technology (OT) teams to understand and extract insights," explains Kateryna Dubrova, Research Analyst at ABI Research.

When some people think of machine learning and artificial intelligence, their thoughts go immediately to Skynet or devices taking over humankind.

The Internet of Things is slowly permeating every aspect of our lives. If you don't already own an IoT device, you've surely heard of them. From smart thermostats to smart coffee makers, IoT devices are slowly but surely garnering mainstream adoption. In addition, virtual assistants (such as Siri, Cortana, and Alexa) are only making this technology easier to adopt. But, these devices are far from perfect.

Oracle is taking the Internet of Things to a new level with the announcement that its IoT cloud service will now incorporate artificial intelligence and machine learning to provide clients with better business data insights than ever. Oracle's upgrade will include digital twin and digital thread capability, providing companies with an integrated analytical perspective on their entire supply chain. Companies will also be able to develop their own IoT field apps, which can then be integrated into a central analytics platform to provide real-time insights into business processes. As part of this update, Oracle is also introducing services that will empower IoT smart connected factories, fleet management and remote monitoring and repair. Oracle's move reflects its interest in capturing the B2B segment of the growing machine learning market.