Why Blended AI and IoT Got Businesses Take Notice

When AI and IoT combine, it powers up a realm of possible business improvements.

Artificial Intelligence (AI) and the Internet of Things (IoT) are household words. While most of us know, at least in a vague way, that AI and IoT can work together, we may not know just how powerful the combination can be. In this article, we’ll examine the basics of blended AI and IoT: what it is, what it can do, and why you should care.

What Is Blended AI and IoT?

First, let’s start with some basic definitions:

Artificial Intelligence is programming computer systems to “think like humans” – i.e., process information and develop a conclusion without direct human input. (Indirectly, of course, there’s human input in the form of programming.) AI can be divided into subdisciplines like machine learning, object recognition, and natural language processing. We interact with AI every day; common examples include recommendation providers, digital assistants like Siri and Alexa, and search engines.

The Internet of Things (IoT) is the collective name for all the physical objects that have sensors or other connective technologies and are hooked up to the Internet; aside from the setup process, there’s little human intervention with how IoT devices connect to the Net. IoT objects can include programmable thermostats, smart fridges, home security systems (such as Ring Doorbell or SimpliSafe), and other ‘smart home’ gadgets. Wearable technology like fitness trackers and healthcare monitors are also part of the IoT.

is the collective name for all the physical objects that have sensors or other connective technologies and are hooked up to the Internet; aside from the setup process, there’s little human intervention with how IoT devices connect to the Net. IoT objects can include programmable thermostats, smart fridges, home security systems (such as Ring Doorbell or SimpliSafe), and other ‘smart home’ gadgets. Wearable technology like fitness trackers and healthcare monitors are also part of the IoT.

Blended AI and IoT is exactly what it sounds like: leveraging the data-gathering capabilities of IoT and the processing and self-learning powers of AI. Combined, this can make IoT devices more efficient and powerful; it can also provide major benefits for businesses, governments, and other organizations that rely on data-driven decision making. The process looks something like this:

1. IoT devices provide data.
2. Connected networks transfer the data to the AI system.
3. In the system, data is processed and analyzed.
4. In the final step, the AI system uses its analysis to propose possible solutions or actions. These can usually be grouped into one of three categories: predictions or forecasts, action recommendations, and self-improvement (i.e. the system monitors and improves its own performance).

Why You Should Care About Blended AI and IoT

AI opened up many possibilities and improvements in the business world; it’s helped companies mine their data and make better decisions. During COVID-19, it helped organizations quickly adjust to changing demands and environments. In sales and marketing, it’s helped businesses understand and communicate more effectively with their customers. In physical processes like machine maintenance, mining, and manufacturing, it’s helped companies reduce waste, trim costs, and increase safety.

When AI is boosted with IoT data, we can expect these benefits to continue or even increase. This will further emphasize the gap between businesses that have adopted AI and those that have not; it will also create a competitive advantage for businesses in terms of a more holistic view of customers, markets, industry trends, and so on.

The Benefits of Blended AI and IoT

The organizational benefits of blending AI and IoT flow to all areas of the company. In a big-picture perspective, it helps eliminate operational inefficiencies by determining which tasks can be streamlined or even automated. It can reduce the impact of risks and help businesses avoid unplanned downtime to physical breakages or machine failures. By boosting the speed and richness of data analysis, it can help businesses bring new ideas to fruition.

In short, blending IoT data with AI processing unlocks the next level of technologically enabled business decision-making. Companies that choose to use this powerful pair will better be able to adapt, scale, and optimize their business processes. And they’ll be able to do that at speed. Meanwhile, businesses who don’t will see a widening gap between their capabilities and those of their competitors. And we all know which side of that equation we’d like to be on.

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