Internet of Things (IoT) has become the talk of the town with a gigantic number of 11 billion estimated to connect devices like vehicles, home appliances, wearable devices etc. all across the globe in the year 2018.
IBM has enthusiastically formulated several trends which conclusively portrays how the Internet of things will give a magnanimous start to the digital age for the years to come. In an interview conducted by Forbes, Bret Greenstein, Vice President of IBM’s Watson Internet of Things Consumer Business, forecasted 4 drifts that majorly revolve around “data” being the crucial element for all the technologies distinguished from each other but yet interconnected.
Let us have a deeper insight into this sphere which withholds immense potential to garner technology with unprecedented innovations!
Augmented / Artificial Intelligence will accentuate IoT’s productivity:
Today Augmented Reality or Artificial Intelligence (AI) can be seen in diverse manufacturing processes, in industries like insurance and automotive and in various domestic appliances too, making it omnipresent.
A significant number of unstructured data can be seen associated with smart devices that are connected to each other via the Internet. In such a scenario, Artificial Intelligence is sure to gain attention wherein the Internet of Things is working hand-in-hand with connected consumers and also enterprises devices which are capable to relate to the environment around them.
Experts have indicated several noteworthy points related to Artificial Intelligence.
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Around 40 percent of digital transformation manoeuvres will be done only through Artificial Intelligence after two years from now.
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About 75 percent of commercial applications will be using AI and 90 percent of AI-powered customers could be listed by the end of the year 2021.
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IDC Futurescape analysts have stipulated that around 50 percent new industrial robots will be AI equipped.
“AI is helping to bridge that gap – now we are seeing automakers and hotels and other companies trying to create more integrated experiences and using AI to better understand and interact with people,” said Greenstein to Forbes.
Cloud computing will be done at “edge”:
Internet of Things through a cloud connects the physical world with small devices efficient enough to run complex processes. The chip technology is advancing and various edge devices have started to serve the cloud computation as an extended hand. With this, the businesses may see a breakneck transformation as far as the unstructured data is concerned. According to IDC, around 18 percent of total spend on IoT could be seen by the year 2020 by IT on edge infrastructure.
Blockchain to shield IoT transactions:
Blockchain for IoT transactions will help the worldwide business transactions to evolve in a better way by providing an environment which is safe and reliable. These Blockchain enabled transactions are automated and encrypted making it secure for all the participants involved in a business transaction. With an efficient privacy potential, Blockchain will regulate better customer experience, lead to acceptance of productive business models and revamp the operational effectiveness of the organizations.
IDC Futurescape has also predicted that by 2020, one in ten of pilot Blockchain distributed ledgers will assimilate IoT sensors.
IoT makes a mighty move in manufacturing and industries:/p>
A grip over IoT data will help a vital number of industries to seize in depth the understanding of the market, customers and the industries as a whole.
An apprehension of what business possesses rather than what business shall benefit from, will make usage of IoT a revolutionary move for the digital world.
Author: Sridhar Venkata
Director Sales & Marketing at ITP Software India.
ITP offers solutions to Pay TV, Broadcasting & ISP domains. ITP has earned the distinction of offering the most credible products that help a client enhance and manage operational efficiencies, increase and sustain customer loyalty and ramp up operations.
