The Internet of Things (IoT) refers to a network of physical devices equipped with software, sensors, and various technologies that exchange and connect data with other systems and devices over the Internet.
IoT has seen tremendous growth, driven by rapid technological advances and the increasing need for real-time insights into digital transformation solutions.
As we look ahead to 2024 and beyond, the future of IoT looks brighter than ever, with many exciting trends and predictions. From advancements in machine learning and artificial intelligence to the rise of smart cities and interconnected supply chains, IoT’s possibilities are limitless.
So, what does the the top trends of IoT into the current world of AI and how top mobile app developers tap into this growth? Let’s explore.
Top IoT Trends for the Current AI Wave
Investments in Chipset Security for IoT Devices
With rising security threats to IoT devices, semiconductor companies are stepping up their game by enhancing chipset security. They are integrating secure elements and physically unclonable functions (PUFs) to protect data. To ensure safety from the device at the edge all the way to the cloud.
AI-Powered Industrial Automation
AI advancements are revolutionizing industrial automation. More powerful and compact AI chipsets are being embedded into industrial hardware to handle real-time data processing directly at the edge. This cuts down on latency, reduces network traffic, and boosts security by processing data locally instead of sending it to the cloud.
GenAI in Manufacturing
GenAI is quickly gaining ground in manufacturing, where it is being used for coding, troubleshooting, operational analytics, and even design. This technology is reshaping the industrial landscape.
Positive Impact of GenAI on Employment
Despite concerns about automation causing job losses, GenAI is expected to create more job opportunities and enhance upskilling in the workforce. Manufacturing is increasingly investing in AI technologies, aiming for strategic growth rather than just automation. According to the Manufacturing Leadership Council, 32% of manufacturers foresee workforce growth due to AI adoption, and 98% plan to boost their AI investments, driven by the potential for cost savings, business expansion, and increased revenue.
Caution Against Rushing to Adopt GenAI
While the excitement around GenAI is prompting rapid adoption, it is important to stay focused on solving actual problems rather than getting caught up in the hype. Clear goals are essential for successfully integrating new technologies.
The Growing Role of Marketplaces
Technology procurement is increasingly leaning towards marketplaces, with companies preferring subscription-based models to simplify purchasing. B2B marketplaces are seeing fast growth, becoming a key channel for acquiring software solutions.
Cloud Providers Shifting Strategies to Capture the IIoT Market
Cloud providers are adjusting to the evolving IIoT landscape by focusing on edge computing and containerization strategies. For instance, Microsoft is pivoting towards Kubernetes within its Azure IoT operations, reflecting a broader shift in its IoT strategy.
Industrial DataOps Solutions on the Rise
Industrial DataOps is gaining momentum as companies seek to improve data quality through better contextualization and modeling. Vendors are investing in these solutions to address the challenges of data integration.
All these trends of IoT application development have been vandalized with AI.
What is the Future of IoT in the AI Wave?
When artificial intelligence (AI) joins forces with the Internet of Things (IoT), it transforms how industries, businesses, and even entire economics operate. Together, AI and IoT create intelligent machines that make better decisions and improve efficiency.
IoT enables devices to communicate over the internet, while AI, combined with Machine Learning (ML), helps these devices learn from the data they generate.
AI and IoT work well together in areas like:
- Managing, analyzing, and uncovering valuable insights from customer data
- Delivering fast and accurate analysis
- Personalized experiences while ensuring data privacy
- Strengthening security to protect against cuber threats
Conclusion
In conclusion, it is said that IoT technology is taking over many industries. It is making the work process quite simple and smooth.
The IoT industry itself is undergoing in a digital tranformation that is also driven to the advancement of technologies. This automation strategies has been great specifically when it is added with GenAI.
When these two technologies are combined can create a dynamic mobile app development that will shape your business’s IoT ecosystem.
