The Internet of Things (IoT) and artificial intelligence (AI) are two of the fastest-growing technologies in business today. AI, the ability for computers to think like humans, continues to rapidly evolve as developers continue to create new algorithms and programming languages that make applications and ultimately business process, programs smarter. IoT is essentially a network of internet-connected devices capable of transmitting data remotely.
What is IoT?
The Internet of Things (IoT) is a network of devices, machines, and appliances consisting of sensors and actuators (things that do stuff) that are connected to the internet. The interconnection of devices creates the potential for data to be collected and analysed. Legacy and modern business both utilise the power of IoT to enable teams of operators and decision makers to understand their businesses in more detail. Allowing them to interpret and respond to key signals, insights and alerts.
So what’s AIoT and why is it important?
Artificial Intelligence in the Industrial Internet of Things (AIoT) is a connected ecosystem where machines and devices work together using Artificial Intelligence, Machine Learning, Internet of things, and Digital Twin concepts. If you’ve been wondering how these technologies can improve your business in 2023, read on!
Things that use IIoT include:
To monitor and manage production processes
To monitor and manage infrastructure maintenance
To monitor moving and fixed assets and extraction processes
To monitor patient health and administer treatment
To track inventory and manage the supply chain
To monitor traffic flow and transportation management
How will AIoT benefit your business?
AIoT can boost your company’s bottom line by reducing expenses, increasing profitability, providing growth opportunities, enabling businesses to deliver higher-quality products and services, boosting customer loyalty, and increasing customer retention.
How is this made possible? By applying machine learning algorithms that understand key patterns and behaviours in real time, informed by an infinite amount of sensor technology. Data from machines, vehicles, environmental and movement sensors to name a few.
Businesses are also able to become more sustainable by reducing their environmental impact and promoting resource efficiency. Adopting digital transformation strategies to stay competitive and compliant in highly disruptive environments is also made possible given the access to new data and new data insight – essentially become data-driven businesses.
AIoT technology is then used to process data at scale, identify key outliers based on multitudes of historic trends – essentially doing the heavy lifting – by using powerful technology to organise, sift through and capitalise on data.
Given the rise of faster and ubiquitous connectivity, powerful processing in the cloud or on physical edge devices, sophisticated machine learning models and smart visualisations, users don’t need to struggle to get BI style reports. The experience of AIoT is instantaneous and action oriented.
What to look for and why IoT.nxt?
Given the different technologies at play, it can be difficult to know where to start. That’s why we have broken down what you should be looking for in an AIoT platform below.
A platform that is scalable and can accommodate the expected growth in data, processing, connectivity and device protocol demands, over the coming years.
A platform that is intuitive and easy to use, as well as easy to integrate into your current systems and processes.
A platform that can provide a high level of security. Security is particularly important in industrial IoT where data is often used to make critical decisions. AIoT will generate new insights that will also need tighter security given the potential for sabotage and data leaks.
Support and Maintenance
A platform that is supported by a team of experts available to help you with any issues or questions you might have, with a team skilled and equipped to offer a ground-up service.
From devices in the field, to managing data integration, sorting and preparation, to refining data models and algorithms and generating user-centric reports
A platform that is open and flexible, enabling you to add new technologies as they emerge.
A platform that is cost-effective, particularly in the long run.
AI in Business: Why is it important?
There are a number of AI tools available for businesses. Each offers a different set of benefits depending on the type of AI you’re looking for. The differentiation will come from being able to manage legacy and modern devices, disparate data silos, and new demands. A flexible platform to empower Operations, Analytics and IT teams.
IoT.nxt are a pioneer in offering advanced technology solutions through our latest Navigator AIoT solution. Reach out to us today to learn more.
Start becoming a more efficient, smarter, and pro-active business today: [email protected]