The amalgamation of artificial intelligence (AI) and Internet of thing (IoT) – An outstanding combination and an untapped potential

AI or artificial intelligence services are rapidly becoming efficient at providing instant information to every online visitor of any website. This trend is going to leave a deep impact on our lives as we are getting more used to this technology as it makes our lives easier. However, on the other hand, IoT or Internet of Things IoT is yet another blockchain assisted technology where your data is cryptographically secured using a distributed ledger system. It also lets you transfer data safely between two parties efficiently and with complete peace of mind. A combination of both can help the current market fast progress with a future blend of technologies that will help enable sensor-based real-time intelligent systems in the near future.

Internet of Things or IoT –

Internet of Things is the emerging technology that is now being used to connect many devices to the Internet and to other connected devices in the network as well. According to ITSpectrum, which is a leading IT service provider in the industry, the IoT concept was not clearly known by the people, but today it has successfully made its market presence by serving different industries all across the globe. However, IoT is here to stay or is our future which will have a huge impact on almost every sector that we know about and it simply cannot be ignored as well.

Artificial intelligence or AI –

Artificial intelligence or AI services are rapidly becoming efficient at providing instant information to every online visitor of any website or eCommerce portals. Artificial intelligence will continue to develop businesses that are looking for an alternative to human intelligence. Especially the chatbots installed on different website portals are basically virtual experts and customer management agents working round the clock without requiring any manual input. These advanced AI-powered chatbots come with a firm artificial intelligence-powered foundation that is quite capable of providing adequate user experience in the near future.

When AI meets IoT – innovations waiting to happen Internet of Things (IoT) and artificial intelligence (AI) is such an amazing technology that is literally helping us to reconsider our daily life but is the real driving force behind both the technology's full potential. The amalgamation of both technologies comes with its own benefits starting with the most basic applications such as tracking our fitness levels, helping big industries with a wide-reaching potential, and urban planning. However, the growing combination of AI and IoT will lead away towards a smarter future that could take place sooner than we think.

Blending AI with IoT could help businesses understand and predict a broad range of risks involved in their processes and automate for a prompt response at the same time. A combination of both allows in better managing financial losses and prevents cyber threats. There is a broad range of benefits for both companies and consumers from combining both technologies such as –

• Increased operational efficiency

According to ITSpectrum, an AI and IoT service provider, a combination of both technologies can help in the streaming of data and detect the patterns that were deceptive on simple gauges earlier. IoT combined with AI can also help predict the different operational conditions and all the involved parameters that may need modifications in order to ensure the best outcomes.

• Manage risks efficiently

Combining AI with IoT can help businesses better understand and predict a broad range of risks involved in their process and find solutions with an automated response. This combination also allows for better management of financial losses as well. Say, for example, the combination of this technology altogether could ensure workers' safety by engaging AI devices in order to analyze data sourced from the connected wearable devices.

• Costing cutting solutions

These combined technologies could help some sectors such as offshore oil & gas and industrial manufacturing in terms of equipment breakdown which could otherwise result in costly unplanned expenditure. This predictive maintenance system with AI-enabled IoT allows you to foretell any equipment failure in advance and schedule orderly maintenance procedures in a timely manner, helping you cut costs.

• Application in different sectors

There are some major segments in the industry where this combined technology could make an impact such as the creation of smart wearable’s, smart homes, and smart industries. The smart wearable devices like smartwatches can continuously monitor and track user preference and habits, smart homes responding instantly to your requests, and real-time data analytics to supply-chain sensors helping prevent high-cost errors in the industries.

As per ITSpectrum, a combination of IoT with AI technology could be fruitful and could open an innovative way towards the advanced level simply by un-tapping the potentials of these technologies. However, in order to obtain a better outcome from your business and to transform its, integration of AI with IoT is a must.