New technologies and exciting initiatives are emerging each year and continue to astound. Even solutions just a few years ago appeared like a vision of the far future are now becoming a reality. Businesses are also starting to see the tremendous potential of AI and the advantages that automation may offer.
Where does artificial intelligence stand in the future after meeting IoT?
“Gartner predicts that the global AI software industry will reach $62 billion in 2022. In a Toolbox survey, 42% of computer experts confirmed that artificial intelligence would be the most popular trend in technology in 2022. Listen to experts discuss how AI will change in 2022 to open up new use cases for companies of all sizes.”
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Artificial intelligence and the Internet of Things frequently top the list of the newest technologies influencing the IT sector. It makes sense why these technologies work so effectively together. The duet has modernized the traditional approaches on the commercial and industrial levels.
How AI Enhances IoT-Based Systems?
Many companies have already used AI and IoT in their procedures and goods.
An Arduino board or Raspberry Pi board is typically used to incorporate different sensors and servo motors into an IoT system. The item that will be made smart is fitted with this integrated circuit. These items now produce data. Either structured or unstructured data is possible. Data insights enable devices to become intelligent. AI has a role in this situation.
“According to a recent Tech Trend survey by SADA System, IoT and AI are the most widely used technologies. Additionally, it was discovered that firms are investing heavily in AI and IoT as the leading technologies to boost productivity and provide them with a competitive edge.”
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IoT and AI each have a role to play. IoT servers produce huge amounts of data, but AI can interpret and learn from them. Therefore, one can create an adaptive system by combining both skills.
Top AIoT Trends to Watch out in 2022
“2022 will be the year of AIoT, and it will only get hotter!”
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So what are the top trends that will shape the future of AIoT?
Metaverse Going Mainstream
You might have predicted this one. After all, Facebook is developing a metaverse—this virtual reality universe built on VR technology—as Mark Zuckerberg just disclosed. Then he renamed Facebook as Meta.
“While the metaverse as a whole is still in its infancy, hundreds of businesses are already developing solutions for it. Because of this, estimates state that the sector might be worth $800 billion by 2024.”
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Large companies are developing complementary items. On April 13, Epic Games announced a $1 billion investment in its metaverse, while Nvidia created the NVIDIA Omniverse, its take on virtual reality.
Human Augmentation Will Play a Critical Role in AI
“The human augmentation market will be worth approximately 400 billion dollars by 2027.”
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Technology is not widely used, despite the significant advancements in human augmentation. The fact that current technology does not allow for the full potential of human enhancement is one of the causes of such stagnating common-use patterns despite advances. The use of human augmentation will become increasingly common thanks to developments in the following five domains that serve as infrastructure, according to the Ernst & Young Megatrends report.
Some of the most exciting developments in this field are:
5G: The fifth generation of cellular networks promises to provide 10 times more speed than 4G and enable low latency, high bandwidth communications. This will allow future applications like telemedicine and autonomous vehicles.
Edge Computing: Edge computing is a new architecture for cloud computing that eliminates latency by moving application processing closer to end users (i.e., at the network’s edge). This will allow for more personalized experiences for consumers and businesses alike.
Quantum Computing: Quantum computers have already solved certain problems faster than traditional computers. However, they also have implications for cryptography and cybersecurity because they can crack many current forms of encryption used today in our digital world.
Improvement in Retail Industry
“The usage of IoT is growing rapidly across the retail sector. In 2021, it was projected that more than 80% of all retailers will have used IoT. According to Frontier Economics, a 10% increase in M2M connections will result in a 2.26 trillion USD increase in US GDP within 15 years.”
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AIoT in retail uses a variety of data points, including cameras and sensors, to track customers’ movements and purchase behavior to forecast when they will arrive at the checkout counter.
For instance, a camera system with sophisticated computer vision capabilities can use facial recognition technology to recognize consumers as soon as they enter the building. The system would then collect customer data, evaluate it to forecast consumer behavior, and use that knowledge to decide where to position products, how to sell them, and other things.
Wearables Reach New Heights
Until 2022, consumer IoT applications will be dominated by wearable technologies. In the near future, smartwatches and wristbands will no longer dominate the wearables market, as their diversity will increase. Wearables, connected clothing, and IoT ID badges are already available and will become increasingly popular.
“Consumer expenditure on wearable technology will double in 2022.”
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Take Apple as an illustration. If you’ve been keeping up with Apple’s most recent technological developments, you already know that the corporation will introduce its first augmented reality headset in 2022. This wearable device is anticipated to displace the conventional smartphone eventually.
Additionally, wearables continuously track and monitor personal health preferences and routines. Applications include heart rate monitoring, smart bands, and health monitors. Wearables monitor health trends and send real-time updates to caregivers based on pre-set criteria and algorithms.
Production and Manufacturing
The Industrial Internet of Things, or IIoT, is a very popular place for AIoT systems. Such sophisticated systems are employed in manufacturing to monitor equipment in real-time and find faulty components. Modern deep learning applications are progressively replacing traditional machine vision systems for quality control. Artificial intelligence (AI) models are used to analyze the real-time video stream from cheap cameras to train deep neural networks to detect defective parts in real time.
Meet the AIoT Trends with Transpire Technologies
As AIoT becomes increasingly integral to our lives, we’ll have to adapt. AIoT combines the strength and effectiveness of both AI and IoT. The list of businesses using AIoT-powered solutions is expanding quickly and includes everything from banking and insurance to manufacturing, healthcare, security, and retail. In all likelihood, the technologies will evolve soon.
Transpire Technologies engages in full-spectrum digital transformation enabling you to fully capitalize on the new business prospects provided by the technological shift in response to the expanding needs driven by AIoT.
