What is AIoT?
Driving innovation and gaining a competitive advantage require more than just connecting devices and gathering data. Without AI capabilities, IoT devices and the data they produce would have limited value. And AI applications would struggle for relevancy if it weren't for the IoT data flooding today's utilities, manufacturers, retailers, hospitals, insurers, etc. The IoT gives brands the potential to expand the customer experience, anticipating needs and becoming truly embedded in the consumer’s world. When you merge AI and IoT, you get the Artificial Intelligence of Things, or AIoT – a revolutionary combination that can transform industries, elevate customer experiences and accelerate business performance exponentially.
AIoT Facts & Figures
There will be more than 55 billion IoT devices by 2025 – more than four devices for every person on earth – according to Business Insider Intelligence. That's up from about 9 billion in 2017.
IoT projects that will include AI
By 2022, Gartner predicts that more than 80 percent of enterprise IoT projects will include an AI component, up from a mere 10 percent today.
potential lift in profitability
According to Forbes, organizations that can apply real-time AI to IoT data could gain substantial business value, including as much as a 38 percent lift in profitability by 2035.