Rapid technological innovation has forced companies to follow suit and also innovate their processes. We have heard many stories where companies that did not keep up with the trend were quickly replaced by competitors that kept pace with innovation.
Today, AI-powered solutions are the biggest innovation that companies implement in their operations. But the effectiveness of AI solutions is based on the availability of data and its quality, which can be managed with IoT devices.
That is why large companies such as Amazon, Apple, Tesla, Google, Facebook and many others use both technologies to guarantee an innovative and high quality service to their customers.
However, the beauty of IoT and AI is that it is not exclusive and can be used by companies of any size.
Today we will discuss how companies can grow and improve their operations with the help of Artificial Intelligence and the Internet of Things.
What is the Internet of Things and how does it work?
The Internet of Things refers to objects that are connected to each other in real-time and exchange information with installed sensors, software, and other tools.
With the smart devices around us, it is not difficult to find a real-life example even in our own home. For example, smart speakers like Alexa or Google Home can talk to other appliances in your house and modify these appliances according to your desire.
Therefore, Alexa is one of the examples of IoT devices, as it is connected with other devices and exchanges data with them. However, when it comes to the business world, taking the power of AI and merging it with IoT devices produces benefits that go beyond simple communication between devices.
What is Artificial Intelligence (AI)?
AI is a broad term used for all the systems that imitate the cognitive functions in humans such as learning, understanding, reasoning and decision making. In other words, AI can be defined as a machine completing tasks normally done by humans without human assistance.
AI is the future of business operations and it is currently being implemented in all areas where machines carry out the tasks handled by humans until now. In other words, AI is revolutionizing your company’s operations.
Benefits of integrating AI and IoT
When we talk about AI solutions, we mean smart algorithms enriched with data that allow computers to solve complex problems that require human-like intelligence. So where exactly can these two help businesses grow?
Improved operational efficiency
The beauty of AI and IoT is that the uninterrupted supply of data reveals patterns of operations that a normal person could not have seen. Intelligent algorithms analyze the data and show which operations are performed optimally and which need further improvement.
Preventing the downtime
Installing IoT sensors on your equipment means being constantly on the circuits of your condition. Knowing the health of your devices is already an advantage, however, with the help of AI, you can even go one step further.
By analyzing historical data, AI can provide a probability of when your equipment might fail. Therefore, we give you a notice to properly prepare and minimize inconvenience.
Enhanced safety and security
Many companies discovered that security was another thing that AI with the help of IoT could successfully handle.
By analyzing the data, companies can predict potential security risks, such as the likelihood of theft or a cyberattack. Responding to such threats (informing officials, raising the alarm, etc.) can also be automated and accelerated, further enhancing security.
Risks in the workplace also include personnel safety. Ensuring safety at your facility is vital to your employees, and predicting environmental hazards is the most efficient way to do this.
The artificial intelligence will analyze all the information about the working environment (air quality, temperature, radiation, etc.) from the IoT sensors that the personnel might not know and will alert the management about possible threats instantly.
Better customer experience
Today, the customer experience is one of the top priorities of all companies. And when the world is more connected than ever, the tandem of AI and IoT is a perfect solution to ensure customer satisfaction.
Customers making a decision before making a purchase is a complicated process. They may see your product ad online, sign up for your newsletter, but decide to make a purchase offline, at your store. With the loyalty card offering in your physical store, you can receive customer email and connect data online and offline, streamlining the omnichannel purchase process.
Feeding online and offline data to AI algorithms will bring the best-personalized experience to your customers. By offering them tailored suggestions and showing them products of their interest, which translates into greater customer satisfaction and also drives sales.
Today, with all smart devices, we are more connected than ever. This means that a large amount of data is collected every day. By accurately analyzing this data, businesses can be successful.
However, the human strength to study all this raw data is beyond our capabilities. Precisely for this reason, Artificial Intelligence is the best solution to combine with IoT and obtain the desired results in a matter of seconds.
Looking at today’s world, we can easily say that keeping up with AI and IoT will be the deciding factor in survival in today’s competitive business environment.
Get all the business benefits of AI and IoT by automating and optimizing your processes. Start today by scheduling a free consultation call with the AI experts at MaxinAI.
We will review your project requirements and, in case of mutual interest, we will offer you a free pilot project for your risk-free journey in the world of AI.