Although early internet of things (IoT) technology has been around since the 1980s, IoT really started picking up steam in the 2010s. Today’s IoT is a crucial part of collecting, analyzing, and utilizing data. IoT trends for the upcoming year include incorporating artificial intelligence (AI) and other technology to enhance data-driven decision-making and advance innovations. Here is how AI and other IoT industry trends are posed to shape your business.
AI-Enhanced IoT Devices
AI complements IoT devices and expands how you use them.
Improving Decision-Making Processes
Emerging IoT technology can work hand-in-hand with AI to improve decision-making capabilities. An AI-powered platform can analyze all the data from your IoT sensors and offer valuable insights.
For example, if you’re working on a factory floor, using an AI-powered IoT system on your machine can help you detect potential mechanical issues sooner. Your IoT sensor will send an alert when a machine needs maintenance. You can fix the issue with minimal downtime.
Transforming Predictive Analytics
AI also assesses data from all your IoT-connected devices and identifies trends and patterns. This predictive analysis helps you spot and mitigate small problems before they escalate. Data analytics also helps you assess processes and develop strategies for improving them.
Expansion of 5G Networks
If you’ve upgraded your phone recently, you’ve probably heard about 5G. Here is how it is impacting IoT.
Impact on Real-Time Data Exchange
Expanded 5G networks are giving IoT devices the power to perform more effectively. These networks offer higher bandwidth and faster speeds. Your IoT devices can use these networks to transfer more data at a higher rate. With 5G, you can power more connected devices on the same network without increasing the bandwidth.
Enhanced User Experience Across Sectors
Higher speeds also offer a better customer experience for anyone using IoT. Your smart home devices and other IoT devices are more responsive which allows them to deliver data in real time, even when you’re remotely monitoring them. In a commercial setting, reduced lag time means your data is more accurate.
Edge Computing Advancements
Also known as edge-of-network computing, edge computing involves processing data closer to its generation point such as a sensor. Instead of using a remote server or the cloud, edge computing uses a local device such as your computer or an IoT sensor.
Reducing Latency in Data Processing
Edge computing reduces lag time and helps your devices respond more quickly. Since your IoT device isn’t sharing a network, you get instantaneous data and your smart devices can react faster. For example, some office buildings use smart HVAC systems to manage energy consumption. A smart thermostat can detect people in a room and adjust the temperature almost instantly when it is connected to an edge point instead of relying on cloud computing.
Boosting Security in Critical Applications
Edge computing also makes your IoT systems more secure, because your devices aren’t sending large amounts of data through the cloud. You can also encrypt these devices to protect the data they’re collecting.
Enhanced IoT Security Measures
Like many developments in the digital realm, IoT industry trends are focused on data security. Any device that is connected to the internet can potentially be hacked. The consequences of data breaches on IoT devices range from mildly annoying (someone controlling your smart home thermostat) to dangerous (someone taking control of your car).
Cybercriminals also use IoT devices as gateways into your larger system. They can use these devices to launch attacks that take down your network. Current trends in IoT involve redesigning these devices to enhance encryption and enable them to detect threats in real-time.
Newer IoT devices are equipped with better security features such as tamper resistance and hardware-level encryption.
Innovative Use Cases of IoT
As IoT advances, so does its uses. Innovators across industries are using IoT devices in every aspect of your life.
Smart Cities and Infrastructure Improvements
IoT market trends involve large, complex systems. Cities across the globe are leveraging IoT technology for everything from managing traffic to improving infrastructure. Installing IoT sensors on traffic lights and roadways shows city planners when certain routes are more congested. They can then program traffic lights and take other strategies to improve traffic flow.
The City of Los Angeles uses smart sensors to automate traffic lights based on traffic conditions, which reduced travel times by ten percent.
Smart Home and Energy Management
People all over the world are using smart home devices such as thermostats and lighting systems to manage their energy consumption. Some of these newer devices use AI and machine learning to assess your preferences and automatically adjust lighting and temperatures.
They can also help you save money on electricity. For example, if your smart home device learns that energy costs are lower in the morning, they can start your laundry at that time to give you a cost savings. You can also program your smart thermostat to raise the temperature right before you come home from work in the winter so your house is comfortable, but you don’t have to leave the heat on all day.
Industrial Automation Enhancements
Businesses in multiple sectors are using IoT to automate operations. Manufacturers use IoT to monitor equipment in real-time and send alerts when the machine needs maintenance. You can also use sensors to create a digital twin of any object and monitor it. A group of students used this principle to monitor and make changes to a nuclear reactor without touching the physical machine.
Supply chain operators use sensors to collect data at every step of the process which allows them to manage inventory and optimize delivery routes.
IoT also allows any business to assess historical customer data to make predictions. This data lets your business order the right amount of inventory to meet customer needs without paying to store and dispose of backstock.
Stay Ahead in the IoT Revolution
IoT is continually evolving. Interconnected devices are getting smarter and working with other technology including 5G and AI to improve any business, regardless of market size. Surgere’s IoT solutions are transforming businesses in aerospace, agriculture, manufacturing, and more. If you’re ready to see how the latest IoT trends can improve your business, contact us today to learn how we can help.
