Technological advancements sweep us. In the 1920s, after the war, radio sets were the trend. For the first time, people had access to the news, and national sports games were broadcasted live. People were happy to hear what’s happening in real-time. Before long, cathode ray tube television sets became the craze. Now, people don’t just hear what’s happening; they can see it in real-time. But CRT TV sets are a thing of the past. There was no way these heavy tellies could win over the clarity and sophistication of pixel-heavy smart TVs we now parade in our homes.
To a large degree, businesses must make the most of technological advancements. Even massive success is not an assurance you’re going to lord it over for the longest time if you fail to adopt tech advances in time. The story of Nokia, how a company that lionized the global mobile phone market in the year 2000 fell and lost its clout in that market for good, is a fine example.
Today, new technology has emerged: AIoT. The fusion of Artificial Intelligence and the Internet of Things is a great promise for everyone. But only those enterprises that are ready to absorb such technological advancement should make the most of it. Here’s an expert take on how AIoT could rock your world.
The Magic of AIoT
It was bound to happen. One is a superior intelligence that can crunch numbers that would make us look puny, and the other is a network of man’s tools speaking to one another. Combine all that, and you have a gigantic business upheaval.
To note, the Artificial Intelligence of Things (AIoT) is poised to grow into a $3 trillion industry when 2024 comes. That is mind-blowing. You should know that the combination of AI and the Internet of Things can have magical results when factored into end devices. Imagine embedding a data center into our everyday devices. For instance, you have not just a smart home but a “smarter home,” not just a smart TV but a “smarter TV.”
Indeed, the technology will drastically transform just about every aspect of the industry, from healthcare to manufacturing to transport.
What Makes IoT Powerful?
One essential reason AIoT is powerful is how we empower our devices. Instead of the traditional dependence on cloud computing, this new tech embeds intelligence directly into the devices themselves. So, in the long run, we create smarter machines, be it your smart refrigerator at home or the smart CCTVs running in the city.
A great example is autonomous cars. Traditionally, the self-powered car’s reliance on the cloud has hit the ceiling. As instant driving decisions have troubles with internet connectivity, latency, and bandwidth, being in such a car can be risky. With AIoT, however, this concern can be better addressed with autonomous cars given greater decision-making capabilities.
A Dilemma to Consider
The development of technology is the solid foundation of IoT’s success. We may foresee its impact on society, but our current technology prevents it to a bigger scale of usage.
Despite the technological advancement it bears, AIoT is still a new ecosystem. Hence, it is a challenge to embed the computing power necessary in running it into gadgets: small and low-power devices. A low-cost processor that is capable of high performance is necessary for AI’s effectiveness. This enables it to work in “smart” applications. Here comes the dilemma: current chips are big, expensive, and only designated for a particular purpose.
With breakthroughs in computer architecture and semiconductor process technologies, we’re inching towards the wider application of AIoT. With this, the market saw the first processors that are flexible, low-cost, and high-performance. The future of AIoT, we can safely say, is bright.
Taking Advantage of AIoT: What Businesses Must Do
For sure, it may be interested in integrating AIoT into your products. This may be for smart homes, health care, or manufacturing. This pandemic has curtailed our access to the outside world which means greater time spent in our homes. One could see this as an immediate opportunity to use AIoT in improving the quality of life we all have at home.
If you have seen this opportunity to start an AIoT business, you need to be knowledgeable about its nature — a tall order any way you look it.
A good way to start your journey is to avail yourself of managed IT services. That way, you won’t have to focus a great deal of your time and effort on learning new technology. Managed IT experts take care of the technical side of your business. Not only are they cheaper than hiring a local IT guy, but also they are more reliable as they are paid to deliver an “outcome” and not just needed input. You need not master technical jargon. Best of all, they come out cheaper.
No doubt, AIoT is a golden opportunity. Businesses that can ride along this breakaway train will surely reap handsome profits in time.