How AI and IoT Combination Transforms Modern Enterprises in 2022
The corporate world envisages IoT (Internet of Things) and AI (Artificial Intelligence) as the next big trends. IoT fetches more data and AI transforms it into meaningful insights. Talking about the combination of these futuristic technologies can redefine the way modern businesses perform. Digital transformation solutions containing these technologies can take your enterprise to a new level.
An IoT app development company can integrate AI-based features for smarter task execution and better interaction between humans and machines. Simply put, IoT and AI combination enhances the functionality of each other. Let’s discuss the impact of an AI and IoT merger in transforming business processes.
How AI and IoT Combination Impacts Business Processes
AI and IoT have brought radical changes in the current business landscape. The merger of both these technologies assists companies to make informed decisions accurately. Here, connected devices accumulate zillions of data, whereas AI can assimilate and evaluate this data.
What’s more, ML, as a subset of AI, can identify patterns and detect any faults in the data collected by IoT devices.
Simply put, AI, when coalescing with IoT, all we can get are smart machines that can make well-informed decisions with minimal or no human intervention. We are surrounded by hundreds of thousands of connected devices that keep on collecting and sharing valuable data.
An IoT app development company can enable modern businesses to get real-time data and transform them into meaningful information with the help of AI advancements.
As per a prediction, the embedded AI market in support of IoT smart objects will reach USD 4.6 billion by 2024. Let’s dig deep into the importance of AI and IoT combination in reshaping modern enterprises.
How IoT and AI Combination Improves Enterprise Management?
Be it text, audio, video, image, or any unstructured data, IoT devices gather everything quickly. It is difficult for humans to process this much data and get actionable insights. Here, AI comes into the picture and optimizes the data for making meaningful decisions.
This role of AI is one of the big reasons for a massiv3 revenue boost and increased sales of connected devices. As per the estimate, there will be over 73 billion connected devices globally in the year 2025.
Be it a startup or a Fortune 500 company, the combination of IoT with AI is in high demand. As both these future-ready technologies have a lot of potential, various industries tend to leverage their benefits to ensure growth amid challenging times.
Apart from obtaining accurate data insights, the AI and IoT combination is useful for making the data exchange and analysis process more efficient. Companies can make surveillance stronger against cyber attacks with the help of AI and its subset, ML.
Let’s go through the top business benefits of AI and IoT combination.
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