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How the synergy between IOT and AI can transform enterprises

The Internet of Things (IoT) has transformed the ways in which people interact with technology and has reinvented the way businesses and industries engage with, use and apply modern technology in their daily utilities and functions. Notwithstanding the potential of the various avenues opened up by IoT, continuous research and innovation is necessary to identify better, more efficient solutions for the various problems that enterprises face today. The integration of Artificial Intelligence (AI) and IoT, is one such application that has the potential to transform industries, businesses, and economies.

By analysing, processing and making decisions based on the large amounts of data collected by the IoT, AI helps transform this pool of data into meaningful insights and key information. In so many ways, this convergence between the Internet of Things and Artificial Intelligence forms a new wave of technological change, leading to the inception of the Artificial Intelligence of Things (AIoT). This nexus between AI and IoT seeks to provide solutions for any range of complex problems that may be plaguing industries and enterprises.

Within specific sectors too, the impact of AIoT cannot be disregarded. For the Manufacturing industry, AIoT can aid in the combination of data from IoT-connected devices and the insights inferred by AI, to produce intelligent predictive analysis on equipment or servicing systems.

Similarly, in the Automotive sector, AIoT can offer valuable assistance, by detecting the possibility of failure or wear of parts, resulting in improved customer experience and automotive performance. Further, the predictive capacity possessed by AIoT allows it to delve into the veritable pool of data collected by IoT to analyse the behavioural patterns and demand displayed by the shopper.

This synergy between Artificial Intelligence and Internet of Things allows for the easy enhancement of everyday applications of technology, and boosts the abilities of the enterprise, to allow efficiency of processes and management, reduce costs and various other functional developments. IoT supported by AI promotes better operational efficiency, permitting enterprises to identify tasks that may be automated, and paves the way for them to understand patterns in data and process them to make faster decisions. Another benefit is better risk management. Through the adequate analysis of existing data, enterprises can now predict risky scenarios regarding finance, employee safety and any cyber threats against the workers. The data is collected through sensors in devices worn by employees, computer systems in the office or sensors placed in vehicles or factories. By making accurate predictions on when equipment will fail, this congruence of IoT and AI allows timely maintenance and even creates the possibility of implementing preventive maintenance to reduce downtime costs. The predictive scope of Artificial Intelligence of Things extends to predicting the weak spots in networks and indicating which parts require protection, to enhance data security and prevent cyber-attacks.

It assists in the development of new products or services for customers by identifying the patterns of customer buying behaviour, making changes and updating the existing array of products and services or even streamlining the research and development processes of the enterprise. IoT supported by AI can even revamp various manufacturing processes, by using robotics technology that has been equipped with AI and Machine Learning algorithms that act as data collectors in the IoT network. In doing so, enterprises may reduce the production lifecycle to release more products in less time and reduce production costs, while maintaining high quality of output. IoT and AI in congruence can assist in making better, more well-informed decisions based on real time data, rather than relying on outdated or historical data or human instinct.

Today, enterprises face a myriad of complex problems that require solutions that can not only tackle these issues, but also improve the quality of services for the future. For enterprises and service providers alike, the synergy of AI and IoT opens up avenues for growth and reinvention, connecting technology with analytics, in a never seen before avatar.

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