With advancing technology, we have seen a drastic increase in the use of AI and machine learning. According to Gartner, the use of AI features has also increased in IoT projects by 80% in recent years.
These technologies are providing highly interactive platforms through simple task execution and machine learning. Furthermore, combined AI and IoT enable better living with smooth business and overcome the communication gap between AI robots and people.
Let’s now examine the top benefits and applications of AI and IoT for businesses.
Scaling industry 4.0 with AI and IoT
Artificial intelligence and the Internet of Things are both independently capable of carrying out various tasks. AI is responsible for the management and making efficient decisions with little fault or errors, while IoT is responsible for handling the data and various other related things.
Let’s look at the wonders that AI and IoT provide when combined in different applications and sectors.
- AI and IoT in healthcare –
AI with IoT devices has some serious tasks to perform in the healthcare sector. Below are some of the tasks they perform:
- AI and IoT in transportation –
The convergence of AI and IoT has allowed the transportation sector to attract more consumers and make travel and booking processes more efficient.It offered various new technologies, such as automatic or self-driven cars, which brands like BMW and Tesla have already introduced in their models.Warehouses are also benefiting from AI and IoT. The use of RFID tags had made it easier to track and locate inventory.
- AI and IoT in manufacturing –
With industry 4.0, AI and IoT have automated most manufacturing tasks and provided benefits like transparency, improved efficiency, and better flexibility. Furthermore, AI-powered IoT devices helped in managing, tracking, and analyzing inventories.Combining AI and IoT in the manufacturing industry can help provide inventory solutions and check the supply chain to examine the quality of products.
- Facility optimization with AI and IoT –
The combined usage of AI and IoT predicts the asset’s problem and performs preventive maintenance and forecast optimization. Furthermore, with the use of machine learning, it alerts the operator to the problem.Many organizations utilize AI and IoT to improve and streamline operations.
Benefits of AI and IoT
- Ease in data formulation and data collection –
Data collection and formulation is one of the integral parts of an organization. AI and IoT know how to get access to a large amount of data and organize them so one can understand. IoT has the potential to track and record user interaction with devices along with their pattern.The majority of businesses collect and store this data to improve the digital consumer experience.
- Increased security –
Every business is concerned about safety and security, since hackers, malware, and cybercriminals try to steal confidential information.AI and IoT convergence does not allow any third party to get access to the information and immediately notifies the operator if any suspicious activity takes place.
- Automated operations –
IoT improves efficiency by predicting important decisions. It makes the task easier and time-efficient and analyzes areas that need improvements to meet the outcome.
- Better supply chain management –
AI and IoT enable easy tracking of the assets and maintain a record of all the inventories in one place. It also allows businesses to manage their assets and stocks more efficiently while improving the cash flow of the business.
- Improved risk management –
Combining AI and IoT is helping businesses to protect themselves and their employees from cyber threats and financial losses through automated responses or notifications.It monitors the pattern used in ATM banks and predicts any inconvenience ahead of time.
Examples of combined AI and IoT
- 1. Self-driving cars –
Autonomous vehicles are an interesting concept in themselves, but to witness such technology in the future is mind-blowing. As we discussed above, it has already been introduced by big brands.We can see the future itself through the growing capabilities of AI and IoT.
- 2. Wearables –
There are various kinds of wearable devices present in IoT scenarios. Smartwatches, fitness trackers, and GPS trackers, among others, help us to stay aware and informed.
- 3. Smart cities –
Combined AI and IoT can help in developing smart waste management, smart governance, smart policy, smart parking, smart traffic management, and more.It is still a futuristic concept but many countries now are using this technology to make their cities more sustainable, cleaner, and smarter.
- 4. Smart homes –
Smart homes have made our lives easier. From switching on/off fans, lights, and appliances, everything can be controlled from AI-powered IoT applications on our smartphones.
When AI and IoT are combined, they have the potential to enhance solutions and experiences.
Looking for an AI-powered IoT app development company to make your business a success?
Jellyfish Technologies is known for timely delivery, scalable solutions, competitive pricing, and reliable customer service. Our highly experienced app developers can help you customize your application and incorporate the latest AI and IoT technologies into it.