Is the Internet of "Intelligent" Things (IOIT) becoming a whole new ballgame?

The internet of things is way ahead and gaining worldwide attention due to incredible advancements in it as time passes. The data is becoming more than the size of a Hulk due to the numerous connected data endpoints which give the most unparalleled insights. So, the question arises how we can tap the most of this generated data from all possible data streams? The answer is Artificial Intelligence – the new concept is the internet of intelligent things.

So, what are intelligent things?

We all know about the internet of things technology as it has become well known. IoT mentions the billions of Internet-connected devices all over the world. But, the whopping numbers of data that is continuously streaming through these devices is a considerable task to handle. So, here is where the internet of intelligent things saves our burden.

Earlier, experts have said that there should be more work on the utilisation of the internet of things where artificial intelligence would help in building better solutions. So, in recent years it has been pretty clear that IoT networks become more intelligent when combined with other autonomous technologies like machine learning and artificial intelligence. AI makes higher use of the extensive connectivity and more significant data streams which IoT devices can handle well.

What are the benefits that the AI provides?

 Different solutions exist which can evaluate and understand IoT data, but machine learning and artificial intelligence can draw more detailed insights from this data and plan rapidly. Artificial intelligence can spot unusual patterns with higher accuracy with computer vision and audio recognition, thus, removing the need for a human reviewing system. Almost every business is aware of the benefits of IoT, but the enormous advantages of intelligent things are emerging right now. Enterprises can operate in unparalleled ways with intelligent things, consider three examples below –

Quicker responses

It is evident that the internet of things can help businesses in monitoring the operations at a detailed level and having deep insights into the daily activities of differently-sized companies. Nevertheless, there cannot always be a rapid reaction to this enormous data. With the help of artificial intelligence, businesses can be quick in reacting to the situations because AI crunches data at a faster rate and deeper perception.

Consider the example of Fujitsu has shown the use of intelligent things by getting alerts when the workers’ productivity drops, the reason being the heat stress.

Many banks can evaluate AI-enabled real-time data of usage of ATMs, with the analysis of automated CCTV footage. This analysis can result in tracking the fraud transactions and fraudsters.

Preventing failures and doing early maintenance

Industries can easily and quickly respond if any equipment fails. They don’t have to rely upon any human inspector or supervisor to notify them of any mishap, or any failure in a piece of equipment. All these happenings are reported promptly and the site gets an instant response. In fact, the AI-powered IoT technology can prevent the mishaps or failures from happening.

Consider the example of an Australian utility organisation. It is harnessing the power of prediction-based analytics which can use IoT data streams for predicting which reasons can cause a failure in an equipment/device. This helps in reducing the costs of heavy repairs by taking preventive actions early.

Upgraded level of efficiency

The vast number of data streams that IoT endpoints provide allows businesses to measure the performance of every component in depth. But, if someone needs to tap knowledge from all these streams at a faster rate, then intelligent computing is the answer.

Now, here consider Rolls Royce for example. It is using AI-powered computing for analysing the data coming from aircraft engines. With this data, Rolls Royce can make modifications in design and operations to reduce fuel consumption and get powerful performance.

Utilising the internet of intelligent things

It is crystal clear that IoT endpoints can give real-time data groups that bring superb advantages for businesses in a wide array of sectors. But, leveraging this data to acquire benefits is the real challenging task.

Though the impact of AI on our day-to-day lives is astonishing, we are still to witness the real combination of the internet of intelligent things and artificial intelligence, yet. It can prove as a real game-changer for almost every industry. To tap the real potential of IoIT (internet of intelligent things), you should have someone knowledgeable enough to guide you on harnessing the power of connected devices in full throttle.