Opportunities for IoT with AI

Internet of Things with Artificial Intelligence ( IoT with AI ) :

Artificial Intelligence (AI) :

Artificial Intelligence is nothing but the creation of intelligent machines that work and react like humans. computers with artificial intelligence are designed for speech recognition, learning , planning solving the problem etc.

Aim of the artificial intelligence is to create intelligent machines. The core problem of artificial intelligence include programming computer for certain traits like as knowledge , reasoning , perception ,learning ,planning , ability to manipulate.

Knowledge engineering is the core part of the Artificial Intelligent research. Machines can act and react like human only when they have huge information about world.

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Applications IoT with AI :

There are few applications of AI in IoT like as :-

• Visual big Data
• Predictive maintainance
• Connected and remote operation

Challenges IoT with AI :

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1. Compatibility : IoT is a collection of many parts and systems they are fundamentally different in time and space.

2. Complexity: IoT is a complicated system with many moving parts and non –stop stream of data making it a very complicated ecosystem.

3. Privacy/Security/Safety (PSS): PSS is always an issue with every new technology or concept, how AI can help without compromising PSS? One of the new solution for such problem is using Blockchain technology.

4. Ethical and legal Issues: It’s a new world for many companies with no precedents, untested territory with new laws and cases emerging rapidly.

5. Artificial Stupidity: back to the very simple concept of GIGO (Garbage In Garbage Out), AI still need “training” to understand human reactions/emotions the decision will make sense.
   

Opportunities of IoT with AI :

• There are huge opportunities in development and integration for business processes and technology. Making smart robots, virtual agents, data analysis, and machine learning. A massive shift in how we live. Design buildings with less material, more resilience, less cost, and less environmental impact. Self-driving cars that are able to fix themselves.

• There are endless opportunities . right now AI/ML have the biggest opportunities in industrial IoT . That may change in a year.

• Road map domain expertise in data science algorithms, putting a face on AI that users (marketing or IT) can interact with.

• Engineering with equipment optimization. Make equipment which produce more and run more smoothly. They able to show gains in the hundreds of millions of dollars. Sales and marketing with customer information, marketing automation, and insights on the customer journey.

• Any task with any combination of high data volumes, repetitive or mundane, labor intensive or time pressured is a prime target. These are likely to be regulatory driven (like ISDAs, MiFID II, or GDPR) or efficiency-driven (for example, due diligence) and can open up opportunities that were previously not viable using conventional approaches. Target verticals would include financial services (banking, insurance, asset management), legal and corporate legal, large consulting services organizations.

• Manufacturing, heavy equipment (trucking and logistics), utilities, and healthcare equipment.

• There are opportunities in every industry. We see the greatest opportunities in financial services, healthcare, manufacturing. In manufacturing, IoT and ML are used to predict failures so that companies can take action before the failure of a piece of equipment and reduce downtime.

• The embedded solutions will be in the sectors of IoT device, IoT platform, personal assistant software, and data capture & integration software. Nearly all types of devices such as wearable, machine, robot, appliances, grid, billing & settlement device, networking & connectivity device etc. will be powered by AI embedded solutions generating diverse range of consumer data. Not only IoT devices, the IoT platform solutions including device management, network & connectivity management, application management, and business intelligence platform will also be powered by AI solutions.

IoT is quite impressive, it really doesn’t amount to much without a good AI system. Both Iot and AI technologies need to reach the same level of development in order to function as perfectly.

IoT is producing huge amount of data. now a days many organizations are struggle for make sense of enormous amount of data.It is important to every organization to collect and maintain the data with respective to their customers. In conclusion IoT is the data flowing between devices. IoT needs AI to make sense about such type of data. In recent years artificial intelligence become essential part of the IoT which move the IoT to the next level of revolution.

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