Finding harmony between AI and IoT
Connected devices that leverage AI to help with real-time analytics are here today and widespread adoption is on the rise. Well-reported examples include smart thermostats like Nest that utilize AI to learn user temperature preferences and adjust energy use accordingly. Additionally, all cars sold by Tesla operate as a network. When one car learns something, the entire fleet learns and benefits.
It is important to remember that enterprise businesses are best positioned to purchase IoT devices on a much larger scale than the home and government sectors. Consequently, they stand to reap benefits from IoT investments the quickest. In fact, global investment in enterprise services and products is expected to reach US$ 255 billion (EUR 232.5 billion) by 2019, according to a recent BI Intelligence report.
The same report also predicts that by 2019, the enterprise IoT market alone will be bigger than the smartphone and tablet markets combined.
Within the enterprise sector, AI is already making a mark through aiding real-time decision-making. AI’s capabilities are especially valuable to businesses in effectively dealing with matters connected to these components simultaneously: time, money and risk. This can include sales forecasting, information management and various forms of automation.
IoT and AI enthusiasts should look forward to a future where these two technologies evolve their symbiotic relationship. As one technology thrives, more opportunities will arise for the other. IoT that is designed to assist and interact directly with people encourages innovation with AI’s advancements, as it will require human-level language skills and the ability to reason, learn and provide recommendations.