It has been forecasted that by 2020, there will be more than 40 billion connected devices across the globe. The way in which people and things interact with each other, will determine the future of the digital world. Convergence and consolidation of IoT is expected to be the key to this digitally driven environment. The task of creating ubiquitous, ultra-connected experiences, making multiple service and technology layers, can actually take years to complete. Making them all work in syn with each other is another challenge.
But we have isolated ourselves from thinking about IoT with different perspectives. Only for the sake of technology, and by keeping in mind the small incremental steps, software are being developed. It’s cheap and easy to deploy a connected sensor and collect data.
And then comes Artificial Intelligence, but the industry misses a critical link: to build an ecosystem for distributed monetization of data by using the data collectively. It is expected that by 2025 there will be over 80 billion connected things that will create and replace more than 180 zetta bytes of data every year. This data has to be managed efficiently and AI and IoT’s convergence can probably create a connected system of things, helping in better data management.
We are now living in a time where technology is revolutionizing our approaches to many aspects of our daily lives. AI and IoT can help our world evolve in a better and efficient manner.