The combination of IoT with AI is largely being researched and several papers written in recent times. There has in evidently been an increasing focus on how IoT and AI work together in various businesses. Verticals such as healthcare, legal, retail, manufacturing, automobile and agriculture are leveraging this combination effectively.
It is no secret that what lies under the umbrella of the terms ‘AI’ and IoT’ is data turned into making informed decisions across several use cases. The two of these when combined, IoT acts as the brawn to AI’s brain. In fact, several forms of AI are used for decades literally with data collection, making sense of it. Collating & putting that data to use with the focus on a large amount of available ‘unstructured data.’
IoT in itself uses IoT gateway, IoT platform, IoT communication which all play their respective roles in capturing data in real time. Based on the results, this valuable data is communicated to enable people and/or connected devices to take action. IoT by itself cannot be used as a standalone data but used as a combination with other data. The combination of data is where AI comes in and plays its valuable role in making sense of the data thrown in by IoT.
The combination of IoT, big data & AI, quite literally the ‘convergence’ of the three are not just a reality for use cases. They are the next gen, the future of applications like visualization technologies and in brain computing interfaces.
Let us take a look at some of the use cases where AI & IoT de facto are being increasingly used on several levels and layers. Embedded in IoT layers and AI in architecture such as fog computing or in edge computing in software, hardware and in overall communication services. It is here that AI becomes supreme in making sense of the data as is the goal of both fog computing & edge computing.
AI & IoT in Aqua Farming
Aqua farming is a new emerging billion dollar market in India. The nuances of the fragile nature of the aqua fauna is myriad and it is no surprise that IoT and AI are already making a huge impact. The role of IoT, AI and the ‘combination’ of both, however, don’t stop with finding just the anomalies. AI & IoT are finding their place in manipulating & predicting the outcome based on the environmental factors, water quality & feed.
Moreover, aqua farming has problems with being located at remote locations where AI & IoT again enter maintenance predictions and downtime reduction sphere. The scope of smart devices (using IoT & AI) is growing rapidly due to the shift of passive to active farm management. Predictive Analytics & corrective measures are taken in real time with AI using in pond devices.
Healthcare is a very broad field, encompassing various elements from the development of new medicines to facilitating outpatients & emergencies. IoT already plays a big role in the healthcare industry especially in facilitating care for patients. Need we say both AI & IoT play a big role in the Pharmaceutical industry.
The top 10 biggest Pharma companies in the world have already collaborated or acquired AI technologies. Most of the developments where AI and IoT partner together are related to drug discovery/development. Also, much progress and integration of AI systems have been done in the clinical trials department. The result, increase in data volumes when incorporated help accurate predictions. The good news, now with AI, Machine Learning and IoT, Pharma companies can cut down costs on R&D (about $70 Billion annually).
The convergence of IoT and AI doesn’t stop with finding new cures or new drugs. AI and IoT are establishing a place for themselves in integrated electronic health records, costs and claims, healthcare quality, measured on patient outcomes. According to Paul Bleicher, CEO OptumLabs , AI and IoT work together in the scope of interoperability and data exchange. Monitoring, predicting and providing relevant data in real-time.
With the amount of data collected each day the nuance of maintenance of backlog increases. AI and IoT together address this by their predictive maintenance and downtime reduction realm. AI and IoT also help in daily activities like roster management, remote healthcare, insurance claims management and so forth.
Wearable healthcare devices market encompassing fitness devices, blood pressure monitoring & insulin monitoring is set to be worth $4.5 billion by 2020. All this made possible by automated management and allowing remote and at- home monitoring of chronic conditions. A quicker change of treatments based on faster diagnosis/changing conditions can impact costs, quality of care and improve patient engagement.
AI & IoT – The Brain and the brawn
In the scope of augmented intelligence or autonomous intelligence, AI and IoT are de facto companions. Wherein, industrial IoT platforms leverage AI but at the same time in all these above-mentioned scenarios. AI also relies on IoT.
We will list out the following reasons why AI and IoT are still ‘nascent’ in many verticals & industries.
– Unaware of the use of IoT and AI in combination today. The future-oriented combination of Machine Learning (ML) and AI fit with an increase in autonomous intelligence ( ex autonomous cars).
– Many industries and organizations view the combination of AI and IoT as relatively new, whereas many have embraced both.
– In the industrial IoT platforms where there is an increasing need for AI-powered IoT solutions and platforms.
– Slow progress due to the lethargic implementation of IoT and AI combo.
– Giving too much importance to various technologies, rather than the de facto combinations.