Electronic Specifier Design Magazine, IOT Insider Special 2024
A new report by Telenor IoT and Omdia explores how the strategic integration of artificial intelligence, and the Internet of Things is reshaping industries, and how it will become a necessity for companies to stay competitive in today’s digital world.
Omdia's forecast shows that the global count of IoT devices would reach nearly 38 billion by the end of 2023 and is expected to surpass 82 billion by 2030. However, despite the value of standalone IoT applications, they pose significant challenges, particularly in managing the vast data they generate. With estimates suggesting the global IoT market produces approximately one billion gigabytes of data daily, many enterprises find themselves overwhelmed in a 'data lake', struggling to extract meaningful, business-valuable insights from this data deluge. This issue intensifies as IoT projects expand, with increasing data and endpoints.
Entering 2024, Omdia identifies the integration of AI into IoT, known as the Artificial Intelligence of Things (AIoT) or AI4IoT, as an essential operational requirement for businesses aiming to remain relevant and resilient in the digital era. AIoT transforms 'smart devices' into an 'intelligent system' solution, offering a comprehensive and transformative approach for organisational value addition.
AIoT, or the convergence of AI technologies with IoT applications, represents a pivotal integration where IoT provides data and AI offers analytical tools for value extraction from this data. Known variably as the 'Internet of Intelligent Things', 'IoT with AI', or 'IoT Machine Learning', each term signifies an architecture that combines both technologies in a unified solution, capable of creating significant impact. AI integration into IoT can occur either at the Edge or in the Cloud. Cloud computing, with its scale, flexibility, and power, has traditionally been the platform for analytics and AI. It manages vast data volumes and transforms them into actionable insights. However, Edge AI has recently become more popular, addressing low-latency needs, cost reduction, and security and privacy concerns.
For the latest updates and insights on electronics engineering news, stay tuned to our platform.
Thank you for visiting the Electronic Specifier Design magazine. We hope you find the content useful in your endeavours.
Paige West, Managing Editor
