- The Internet of Things is powered by 3 emerging technologies - Artificial Intelligence, 5G and Big Data.
- When combined, Artificial Intelligence and the Internet of Things (AIoT) hold the promise of a more connected future.
- The AIoT fusion is increasingly becoming more mainstream, as it continues to transform the fundamental ways in which we live our lives and process data.
AIoT: When AI meets the Internet of Things
The Internet of Things (IoT) is a technology helping us to reimagine daily life, but artificial intelligence (AI) is the real driving force behind the IoT’s full potential.
From its most basic applications of tracking our fitness levels, to its wide-reaching potential across industries and urban planning, the growing partnership between AI and the IoT means that a smarter future could occur sooner than we think.
This infographic by TSMC highlights the breakthrough technologies and trends making that shift possible, and how we’re continuing to push the boundaries.
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AI + IoT = superpowers of innovation
IoT devices use the internet to communicate, collect, and exchange information about our online activities. Every day, they generate 1 billion GB of data.
By 2025, there’s projected to be 42 billion IoT-connected devices globally. It’s only natural that as these device numbers grow, the swaths of data will too. That’s where AI steps in—lending its learning capabilities to the connectivity of the IoT.
The IoT is empowered by three key emerging technologies:
- Artificial Intelligence (AI)
Programmable functions and systems that enable devices to learn, reason, and process information like humans.
- 5G Networks
Fifth generation mobile networks with high-speed, near-zero lag for real time data processing.
- Big Data
Enormous volumes of data processed from numerous internet-connected sources.
How is the World Economic Forum ensuring that artificial intelligence is developed to benefit all stakeholders?
Artificial intelligence (AI) is impacting all aspects of society — homes, businesses, schools and even public spaces. But as the technology rapidly advances, multistakeholder collaboration is required to optimize accountability, transparency, privacy and impartiality.
The World Economic Forum's Platform for Shaping the Future of Technology Governance: Artificial Intelligence and Machine Learning is bringing together diverse perspectives to drive innovation and create trust.
- One area of work that is well-positioned to take advantage of AI is Human Resources — including hiring, retaining talent, training, benefits and employee satisfaction. The Forum has created a toolkit Human-Centred Artificial Intelligence for Human Resources to promote positive and ethical human-centred use of AI for organizations, workers and society.
- Children and young people today grow up in an increasingly digital age in which technology pervades every aspect of their lives. From robotic toys and social media to the classroom and home, AI is part of life. By developing AI standards for children, the Forum is working with a range of stakeholders to create actionable guidelines to educate, empower and protect children and youth in the age of AI.
- The potential dangers of AI could also impact wider society. To mitigate the risks, the Forum is bringing together over 100 companies, governments, civil society organizations and academic institutions in the Global AI Action Alliance to accelerate the adoption of responsible AI in the global public interest.
- AI is one of the most important technologies for business. To ensure C-suite executives understand its possibilities and risks, the Forum created the Empowering AI Leadership: AI C-Suite Toolkit, which provides practical tools to help them comprehend AI’s impact on their roles and make informed decisions on AI strategy, projects and implementations.
- Shaping the way AI is integrated into procurement processes in the public sector will help define best practice which can be applied throughout the private sector. The Forum has created a set of recommendations designed to encourage wide adoption, which will evolve with insights from a range of trials.
- The Centre for the Fourth Industrial Revolution Rwanda worked with the Ministry of Information, Communication Technology and Innovation to promote the adoption of new technologies in the country, driving innovation on data policy and AI – particularly in healthcare.
Contact us for more information on how to get involved.
Together, these interconnected devices are transforming the way we interact with our devices at home and at work, creating the AIoT (“Artificial Intelligence of Things”) in the process.
The major AIoT segments
So where are AI and the IoT headed together?
There are four major segments in which the AIoT is making an impact: wearables, smart home, smart city, and smart industry:
Wearable devices such as smartwatches continuously monitor and track user preferences and habits. Not only has this led to impactful applications in the healthtech sector, it also works well for sports and fitness. According to leading tech research firm Gartner, the global wearable device market is estimated to see more than $87 billion in revenue by 2023.
2. Smart Home
Houses that respond to your every request are no longer restricted to science fiction. Smart homes are able to leverage appliances, lighting, electronic devices and more, learning a homeowner’s habits and developing automated “support.”
This seamless access also brings about additional perks of improved energy efficiency. As a result, the smart home market could see a compound annual growth rate (CAGR) of 25% between 2020-2025, to reach $246 billion.
3. Smart City
As more and more people flock from rural to urban areas, cities are evolving into safer, more convenient places to live. Smart city innovations are keeping pace, with investments going towards improving public safety, transport, and energy efficiency.
The practical applications of AI in traffic control are already becoming clear. In New Delhi, home to some of the world’s most traffic-congested roads, an Intelligent Transport Management System (ITMS) is in use to make ‘real time dynamic decisions on traffic flows’.
4. Smart Industry
Last but not least, industries from manufacturing to mining rely on digital transformation to become more efficient and reduce human error.
From real-time data analytics to supply-chain sensors, smart devices help prevent costly errors in industry. In fact, Gartner also estimates that over 80% of enterprise IoT projects will incorporate AI by 2022.
The untapped potential of AI & IoT
AIoT innovation is only accelerating, and promises to lead us into a more connected future.
The AIoT fusion is increasingly becoming more mainstream, as it continues to push the boundaries of data processing and intelligent learning for years to come.
Just like any company that blissfully ignored the Internet at the turn of the century, the ones that dismiss the Internet of Things risk getting left behind.
—Jared Newman, Technology Analyst