Artificial Intelligence of Things (AIoT) is revolutionizing businesses, enabling valuable, real-time insights, bringing forth a huge scope for innovation and advancement across sectors.
During the recent months, as the world has mobilized itself to fight against the COVID-19 pandemic, it has also led to new, visible trends emerging. Though the situation has led to a pause across manufacturing, travel, tourism, and trade, technology has emerged as one of the leading enablers across essential services, healthcare and education.
The concept of AIoT is becoming increasingly relevant across domains. AIoT has the potential to harness device data, and develop actionable business insights, leading to optimized business processes and enhanced potential, driving efficiency and effectiveness.
In isolation, IoT connects us with most of the devices around us, turning physical objects into an information ecosystem, making our lives technology- and data-rich. However, combined with artificial intelligence, the technology enables sophisticated and rapid decision making, handling data in a real-time and effective manner, better analytics, agility, and efficiency.
As we look ahead toward 5G and a world of interconnectivity, the role of AIoT becomes even more important. AIoT features like voice recognition, computer vision, faster speed of data refresh, and process automation are now being integrated across every sphere of consumer devices imaginable. It is also being employed by the government for functions involving emergency services, security measures, healthcare and transportation.
Several enterprises are now channelizing AIoT capabilities to rethink business strategies and enhance the efficacy of their business decisions. A recent global study by Deloitte, SAS, and Intel reported that companies employing only IoT data to speed up operations saw a 32-percent rise while a combination of the AI and IoT technologies resulted in a 53-percent increase in speed. Rich IoT programs with AI-supported chipset platforms are enabling companies and device makers to innovate and develop products across the universe of emerging intelligent devices like smart security systems, head-mounted displays, point-of-sale terminals, smart speakers, drones, and many more. The innovative AIoT chips powering the segment are optimized to support varied solutions, ensuring enterprises can design a wide array of devices with edge-AI capabilities, leading to stunning and unparalleled user experiences.
AIoT has the power to drive edge intelligence, starting from streamlining airline operations, smart cities to disaster and traffic management, security and surveillance, and healthcare among others. AIoT-based SMEs and startups are booming globally, making it imperative that we create solutions to help power this space. With the democratization of various technologies, the industry is now looking at faster adoption and applications of AIoT, leading to the steady emergence of various use cases across domains. AIoT is also seen becoming more human-centric going ahead, enabling a truly connected enterprise providing enhanced outcomes to end consumers.
Enterprises invest in AIoT for several reasons, including boosting the revenue, improving innovation capabilities, offering customers new digital services, and decreasing operational costs. While technology has tremendous potential, across industries, there are some challenges that need to be addressed, including the prohibitive cost of high-performance CPUs needed to power AI. Further, the chip industry needs to make consistent efforts toward making AIoT chips that have enhanced performance accessible to all.
As 5G becomes a reality in the near future, high-speed connections, lower latencies, and extended locations will allow for new AIoT use cases. 5G will also enable organizations to collect and analyze data in real time, ensuring a surge in the demand for innovative AIoT applications.