Accenture reported that the impact of Artificial Intelligence in 12 developed economies, including the United Kingdom, could double annual economic growth rates in 2035.
The term “Artificial Intelligence” has been around for several years. Whether it’s automating factory work processes, computers, or even if you’ve watched Spielberg’s 2001 “Artificial Intelligence”, the idea of “robotics” or “Artificial Intelligence” is not a completely new concept to us.
Today, Artificial Intelligence (or AI) technology is increasingly proving to be a vital element in fuelling growth for businesses and economies. Accenture reported that Artificial Intelligence is set to drive growth in at least three important areas:
- Intelligent Automation
- Labour and Capital Augmentation
- Innovation Diffusion
With businesses continuously expanding, it is clear that AI is rapidly becoming more than just a novelty to businesses, but a vital asset in helping them to grow. To truly reap the benefits of Artificial Intelligence though, enterprises need to keep up to date with the ever-changing connectivity advancements and requirements. In order to do this, businesses need to adopt a connectivity strategy that will truly enable them to reap the benefits of AI – the Internet of Things.
The Internet of Things and Artificial Intelligence
The Internet of Things, or IoT, describes a network of physical objects, and by their extension animals or people, all of which are connected to the Internet and able to share data via this connection. The IoT therefore essentially collects massive sets of data about any number of attributes, providing the “intelligence” required by AI. Without the collation of this data from connected sensors, actuators, and similar, AI doesn’t have the level of information it needs to analyse data patterns and learn from them on an ongoing basis (known as machine learning).
And the relationship is symbiotic.
While many AI applications couldn’t function without the IoT providing constant data updates, similarly many IoT strategies offer limited value without AI to analyse the data they collate. Take for example, connected traffic systems using the IoT. If traffic data analysis was left to humans, it would be impossible to review, understand and implement intelligent decisions quickly – leading to little benefit in the system. By using AI however, machines can more quickly and accurately analyse the traffic data to execute decisions and then be enabled by IoT connectivity.
So IoT is required to collate the decision and carry out actions, while AI analyses the data and determines what the decision and resulting action should be – working together to enable businesses, society and individuals to improve themselves.
Today, businesses and consumers alike use the Internet of Things and Artificial Intelligence on a daily basis, whether it’s the digital assistant on a phone, connected cars, or smart computing for healthcare and retail, it is clear that these technologies are transforming the way we manufacture, deliver, produce and communicate. As a result of connected intelligence tools, operational work processes and efficiencies have seen a huge improvement, and as IoT and AI technologies continue to evolve, this can only drive greater change for enterprises and economies.