Telenor IoT, an IoT Connectivity specialist, points out that Artificial Intelligence (AI) and the Internet of Things (IoT), also known as AIoT or AI4IoT, are necessary for companies to stay competitive in today’s digital world.
Telenor IoT and Omdia released a new report entitled “Navigating the Perfect Storm: AIoT to Emerge as the Defining Enabler of Digital Transformation.” In it, the need to extract meaningful insights from the vast quantity of data that IoT generates is highlighted. Simply collecting data does not bring value, and human intelligence can’t process the information as efficiently as AI. With the support of AI, applications become smarter and more autonomous.
“We predict AIoT will grow to become the cornerstone of digital transformation,” says Mats Lundquist, CEO at Telenor Connexion and Head of Telenor IoT. “The convergence of AI and IoT isn’t just an evolution; it’s a revolution in how businesses operate and compete globally. This report emphasises the urgency to act now.”
Convergence unlocks higher operational efficiencies, better customer experiences, and higher productivity gains across a wide range of sectors. Combining these two can increase the value and impact of simple solutions. AIoT can be used for predictive maintenance, robotics improvement, and enhanced in-car experiences.
Factors Driving AIoT Adoption in 2024:
- Competitive Dynamics: Over 48% of enterprises prioritise AI/ML in IoT deployments, according to the Omdia IoT Enterprise Survey.
- Hardware Advancements: Advances in semiconductor technology, including AI Edge processors, are driving greater computing power for AI integration.
- AI Model Optimisation: Efforts to minimise AI model size, known as TinyML, are enabling increased use of AI in IoT applications.
- Generative AI (GenAI): 38% of respondents in Omdia’s 2024 IT Enterprise Insights reported that they had either already fully adopted generative AI or were implementing it. Only 10% said they had no interest in generative AI.
Read the report here: IoT Predictions 2024: AIoT to Emerge as the Defining Enabler of Digital Transformation | Telenor IoT