Internet of Things (IoT) devices have become as ubiquitous as email, with many homes already equipped with things like connected doorbells and cameras. Businesses large and small are also taking advantage of the technology with connected sensors, security devices, inventory-control tools and many others.
IoT can be described as a network of physical objects — or things — embedded with sensors, software, instruments and other technologies connected to each other — usually alongside a data center. According to the industry analyst firm, IoT Analytics, the IoT market size is forecast to grow 22% — to $525 billion — between 2022 and 2027.
On a parallel track, the technology behind artificial intelligence (AI) and machine learning (ML) has advanced tremendously. AI is the use of computer systems to mimic human cognition functions like learning and problem solving. ML works along with AI to learn on its own without direction, allowing the system to continuously improve.
Pairing IoT devices with AI and ML allows the development of tools capable of collecting vast amounts of data to create actionable intelligence in real time.
This is Smart-IoT.
The power behind Smart-IoT
While basic or “beep” IoT devices “talk” and interact with one another over the internet, they lack the perception to create that ongoing actionable intelligence. Their depth of knowledge is confined to a single layer, rather than being able to act upon understood intelligence and insights. These basic IoT devices can function with a few bits of communication using the equivalent of text messaging.
Smart-IoT, where AI and ML processing optimize IoT data — enables more meaningful “cognitive” responses and actions. A Smart-IoT system learns, perceives and makes real-time decisions and predictions providing actionable insights. In doing so, the IoT system will not just collect basic data from IoT sensors; it will transform the data, understand it, learn from it and validate it to detect, respond and act appropriately.
When we can transcend the limitations of current terrestrial networks and traditional satellite systems with new communication system designs at a fraction of the cost, we will enter the Smart-IoT revolution. Here, opportunities will exist to engage in fast-paced deployments of millions of sensors placed over a very large area creating a vast number of new Smart-IoT use cases — many of which have yet to be imagined.