Why Do We Need AI in IoT?
IoT devices in a given network are what perceive, assemble, and transmit data to a central server for it to be stored, processed, and analyzed. Artificial intelligence (AI) is an all-encompassing and functional solution to the management of several elements of IoT connected together. In addition to that, it has unlimited learning and processing capabilities that are very much needed when it comes to analyzing loads of data that is transmitted by loT devices.
When lots of devices are connected together, what comes out of it is huge amounts of data generated within a very short time This data could be in any form (text, audio, video, or picture). It could also be in an unstructured form and not able to be grouped or organized into specific formats for analysis. It would be very hard for a common human being to digest the data and thereafter provide its analysis. Since data is real-time and accumulates continuously in the IOT systems, leveraging AI is the only effective way to utilize it for optimization. This is why the full benefits of IoT in enterprise management cannot be realized unless a business leverages on artificial intelligence in driving action.
How will AI driven loT change business models and processes? Already, the combination of AI and IOT technology is majorly impacting how businesses are operating and sing their profits. Let’s look at some of the ways through which AI driven loT is changing business models and processes.
1. Enterprises Will Move Towards Cloud Computing
To run AI in an organization, an organization will require large amounts of computing power and professionalism. This may be disadvantageous to small businesses since they may not be able to make the investment and maintain it. This means that they will resolve to leverage cloud computing since it is affordable and easily scalable.
2. Products and Services Will Be Redesigned
Businesses will see a great change in their product research and development in the IoT age. They will be able to stop guessing what their customers desire and phase out those features that prove ineffective. For example, businesses manufacturing home appliances will not just sell their product, but also monitor the usage of their smart products and monetize their consumer behaviour data These product redesigns will be brought about by AI.
3. Improved Customer Services
IoT and AI will help organizations to better engage and satisfy their customers. In fact, according to researchers, 5 years from now consumers will be managing up to 85 percent of their relationships using AI. So far we have started seeing this in the use of chatbots in providing that personification aspect that many customers desire.