Ever since the inception of the Internet of Things (IoT), every device, smart sensor, and machine has been connected to improve the way they function. This has enabled a tremendous amount of possibilities, but the IoT devices can only do so much, even though they are plugged in. The key is to connect these devices to artificial intelligence technology to make them act more like human beings. This idea of developing automated agents that can respond to stimuli and modify their behavior in changing environments dates back to a time when AI was just a science fiction fantasy.
But now, it’s a reality!
The recent advancement in Artificial Intelligence of Things (AIoT) makes it possible for a device or object to sense its environment, think/decide/act, and communicate with others. AIoT is the most recent advancement in the field of artificial intelligence. It involves the use of a plethora of intelligent devices to help organizations make better real-time commercial decisions. Several leading software and technology companies are investing heavily in AIoT.
For businesses wondering what is Artificial Intelligence Of Things and how it will help them, this could mean lower IT costs, better customer service, more intangible benefits like faster decision-making, reduced risk of fraud and data breaches, and better efficiency.
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What Is Artificial Intelligence of Things (AIoT)?
It is clear that smart devices are the future of business connectivity! And with the emergence of the COVID-19 pandemic, this trend is only growing. We are starting to see all technology converge into a “smart” experience. While we are on this trajectory, there are some new synonyms for artificial intelligence; one such is Artificial Intelligence of Things (AIoT). Even without combining these two technologies, Artificial Intelligence (AI) and the Internet of Things (IoT) are two of the most buzzed-about technologies around right now. Yet AI and IoT haven’t come together in any meaningful way, and that’s with a strong emphasis on “yet”.
But that’s about to change with Artificial Intelligence Of Things (AIoT), a new kind of artificial intelligence that can bring together data from all across an enterprise. By connecting devices within a network to AI platforms, organizations will be able to take advantage of not only more data than ever before, but also powerful new methods for processing it.
So what really is AIoT?
Artificial Intelligence of Things (AIoT) is the process of developing intelligent machine systems to interact with and control physical devices.
The Internet of Things (IoT) describes a future where everything will be connected to the internet, including objects, machines, and people. The goal is to give people better access to information by connecting devices and sensors wirelessly to the internet. Artificial Intelligence of Things (AIoT) is an extension of this concept that involves adding AI capabilities to these connected devices so they can perform tasks independently. For example, an AIoT system could monitor homes, businesses, offices, and even large industrial sectors without the intervention of human employees and alert the managers if it detects anything unusual.
The artificial intelligence of things (AIoT) is the technology that will enable machines to learn, adapt and make decisions on their own. The technology is set to disrupt industries including manufacturing, healthcare, transportation, and retail. And nowadays as more businesses leverage AI services with an aim to reduce human intervention in repetitive industrial workflows, AioT can become a game-changer. With its multiple benefits, it will reduce human errors, processing speeds, and much more, thus enhancing business productivity as well as efficiency.
Business Benefits of Artificial Intelligence Of Things (AIoT)?
The Internet of Things is being widely used for the development of smart cities, smart homes, smart offices, and industrial automation. The concept behind it is that everything in our surrounding environment is connected to the internet and can be controlled remotely via a mobile app or directly over the web. And the integration of smart artificial intelligence makes device management and operations 10 times more efficient. Here are some benefits of Artificial Intelligence Of Things (AIoT) in business.
The main benefits of using AIoT:
1. Improved customer experience
Enhanced customer experience is pivotal in ensuring business success in the long run. It is essential for any organization to ensure that customers are satisfied with their services and products. AIoT technology has been designed to help businesses improve their customer experience by offering better services and products, as well as providing information about them at all times so that customers can make informed decisions while making purchases.
AI can be used to improve the customer experience in several ways, it can collect relevant information about your products or services and send the data back to the business, thus providing better personalization options based on consumer data, and making it easy for businesses to address issues with industrial machinery, robots or even healthcare systems.
2. Increased efficiency
AIoT allows you to be more efficient with your time and resources by automating processes and eliminating repetitive tasks. This can reduce costs and increase productivity. AIoT helps businesses automate their workflow, collect data from various sources, analyze data and make informed decisions. This increases the efficiency of business processes and leads to increased productivity.
Artificial intelligence-based smart devices can help businesses save time and money by automating repetitive tasks and freeing up employees’ time for more productive work.
3. Better decision making
AIoT allows your business to make better decisions based on data collected from connected devices and machines. You can use this data to improve production flows, inventory management, or customer service processes. It also helps you identify opportunities to innovate within your business model or product line by anticipating trends before they happen.
Even warehouse management can be made easier with AIoT, as human employees are not required to constantly check on the remaining stock and send requirements if the stock is about to finish. AIoT can sense it automatically with smart AI algorithms and send instant notifications to restock.
4. Reduced risk
Businesses that utilize AIoT can improve their response times during emergencies or natural disasters by sending notifications to employees when there are issues with infrastructure or security breaches on-premises.
Also, robots are now capable of handling complex tasks that are otherwise extremely challenging for humans such as maintenance in oil rigs or nuclear labs, etc. This reduces human intervention thus significantly reducing human fatality in case there is an accident.
5. Reduced costs:
AIoT helps businesses reduce costs by automating manual tasks, reducing the number of employees needed for certain tasks, and eliminating waste from workflows. As mentioned earlier, since items in warehouses are restocked only when there is a requirement, it helps in the wastage of products, thus saving the business millions of dollars.
6. Better quality products and services:
AIoT allows organizations to develop better products and services by collecting data from various sources and analyzing it for insights into customer behavior or preferences. The ability to collect data about customers’ needs and preferences through IoT devices enables companies to provide personalized services that meet those needs more effectively than ever before!
7. Improved accuracy of data collection:
An AIoT device can provide real-time insights into product performance, which can help the service team fix products and devices quickly before it leads to a tremendously dangerous situation.
A smart sensor in industries can automatically detect an anomaly in the flow of traffic or alert the maintenance crew if something goes wrong with an industrial plant. This is even integrated into smart ship management, where everything from the ship performance to fuel consumption and even satellite based navigation is managed by the AIoT devices.
Conclusion
The innovative combination of AI and IoT AIoT devices to learn and adapt over time, without human intervention. It, therefore, makes it seamless for industries to manage thousands of devices simultaneously and collect relevant data to improve business processes. Artificial Intelligence (AI) is already being used in many industries to help with everything from self-driving cars to facial recognition.
The next step of integrating AI into smart devices such as sensors and cameras to collect data from the physical world and to provide cognitive capabilities to devices will only make the industrial revolution more efficient, effective, productive, and of course energy efficient.