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Business changing powerful entities: AI and IoT

Posted on 10/07/202008/06/2021 by Anteelo Master

Before autonomous drones and machine learning came into foray, James Cameron enthralled the world with his dream project The Terminator in 1984 where he introduced ‘Skynet’, a futuristic artificial superintelligence network that wants to replace humans with machines. Much has been debated about the film franchise ever since as scientists passed it off as a fan service action series, yet the seed of technological brilliance was sown. Whether Artificial Intelligence will take over the world or not, it certainly has given businesses a means of revolution and to readers/debaters like us, food for thought.

Another important piece of disruptive technology that is equally changing lives is IoT which expands to the Internet of Things. Like AI, the IoT has come of age. Its utilities include not just making smart homes but also wearable devices, smart vehicles and smart cities. The role of Artificial Intelligence and IoT in business is currently at its epitome.

AI and IoT are redefining the way businesses used to perform. On one hand, AI with its powerful subset of machine learning, has paved the way for smarter task execution with real-time analysis and greater interaction between humans and machines; IoT, on the other, has upped the scale of communication between devices and humans via effective intelligent technology. The confluence of the Internet of Things and Artificial Intelligence makes each other’s applications more varied and powerful.

The merger: How AI and IoT joined forces

IoT accumulates large amounts of data through device connectivity via the internet and AI, especially through its powerful mechanism, Machine Learning helps in assimilating and evaluating this data. Machine learning in IoT devices helps to identify patterns and detect any faults in data collection through extremely advanced sensors. Intrinsic things such as stimulation to air, temperature, humidity, pollution, sound, vibrations, lights, etc. are derived with this technology over a period of time. Unlike traditional technology, IoT and machine learning make operational forecasts 20x faster with heightened accuracy. This is the reason why businesses that use AI technology sees a growth in their revenue numbers – a validation of which can be seen in the graph below

Revenues generated by businesses using AI from 2018 to 2025 (estimated)

AI’s role in IoT’s revolution has helped in a massive revenue boost which also means in the sale of more connected devices.

Below is a graph that shows how many IoT-powered devices were there in 2025 and the estimated curve predicts a huge nerve till 2025.

The demand for IoT is certainly going uphill. IoT, along with AI, are currently on demand by every business, whether it’s a Fortune 500 or a startup. Since there is no limit to either’s abilities, companies wish to use them to their full potential and unbridle their potentiality to the world. The following image draws a comparison among different technologies and shows which ones are the most trending.

As IoT keeps collecting data, AI takes the onus of converting it into meaningful and creative actions. Data exchange happens through sensors and in the process, a few of the following things happen:

Data insights are more accurately obtained, monitored and evaluated
The entire process becomes faster and more efficient
Surveillance against cyber-attacks is more defined and stronger

Advantages of AI and IoT in business

Together AI and IoT are unstoppable forces of technology. There are a lot of advantages which the two provide. The following elaborates the same:

Data collection, sharing and formulating user perceptions

Data collection is extremely vital for a business’ growth and development. A business with an IoT strategy knows how technology can transform data compulsion by offering greater access to consumer information. AI makes it easier to handle that information. IoT devices have this unique mechanism to track, record and observe patterns in a user and his/her interaction with the device(s). Businesses use the acquired data to devise better means to enhance consumer experiences.

Elimination of downtime

Oil and gas manufacturing organizations use heavy machinery which can suffer unseen/unplanned breakdowns. This causes downtime that can incur huge losses. Having an AI-enabled IoT platform makes it possible for predictive maintenance. It helps in anticipating machinery failures and breakdowns in advance by utilizing the analytics so that you can plan a course of action beforehand and not let your operations get affected. A study by Deloitte led to the following conclusions-

20-50% reduction in time taken for maintenance planning
5-10% cutback in maintenance costs
10-20% increment in equipment availability and uptime

Strengthening security measures

With the current rise in data breaches and theft of confidential information, security and safety are the most concerning factors for a business. IoT powered by AI provides militant support to your private information and doesn’t allow third parties to intrude. Machine-to-machine communication is being facilitated by various organizations to detect incoming threats and give out automated responses to hackers. A common example could be in the banking sector where illicit activities in ATMs are picked up by IoT sensors and conveyed immediately to law enforcement bodies.

Automated operational efficiency

IoT deployment streamlines your business and helps in making accurate predictions, all of which are extremely crucial for improving the efficiency of the business. Placing your money on the Internet of Things investment is very necessary in today’s time as the technology also helps in giving you insights into redundant activities and the ones which are consuming a lot of time. A good example will be Google’s reduction in expenditure in cooling their data centres which they could do with AI and IoT. Like Google, you too can find out which of your operational activities need some fine-tuning so that efficiency is not neglected.

Helps in processing business analysis

There needs to be a fine balance between demand and supply. AI helps in improving inventory management and letting go of the pressure on the stock as it will help you to know in advance when you need to restock. This provides an important aid to retailers as they at times hoard too many products to find out later on that all of them cannot be sold. This proves how accurate it is than manual methods. There are IoT applications which help them in gathering the data and analytics for the maintenance of stock.

Better at Risk Management

Earlier we mentioned how AI and IoT help in maintaining cybersecurity. When it comes to risk management, which includes handling financial loss, personnel safety and cyber threats, the pair effortlessly deal with situations and give out prompt responses so that such situations do not arise. For example, Fujitsu, a Japanese IT equipment and service provider makes certain worker safety is maintained through data collected from wearable devices with the help of AI.

Scope for new and improved products and services

The Natural Language Processing (NLP) technology which aims to improve communication via speech, text or gestures has augmented the transmission of information between humans and devices. AI-powered drones and robots give a whole new meaning to monitoring and inspection which never existed previously. It helps to fetch data that a human may never be able to do physically. This proves how strong the IoT and AI future is. For commercial vehicles, it helps in fleet management by monitoring every measurable information. Rolls Royce is a great example of AI-powered IoT use cases. Plans to use AI technology to implement IoT-enabled aeroplane engine maintenance needs. This will help in creating perceptual patterns and help explore in-depth insights.

Examples where AI and IoT are showing brilliance

Now that you’re aware of how AI and IoT solutions help in leveraging business opportunities, let us mention a few examples from real-life instances to prove how the role of artificial intelligence and IoT is helping to create new business models and provide better user experiences. Many of these examples also make up for the most cutting-edge and futuristic trends to watch out for.

Wearables

By now you must have heard how wearables play a key role in the current IoT scenario. Fitness trackers, smartwatches, wearable panic buttons, remote monitoring systems, GPS trackers and music systems are some of the most popular examples of wearables which take up a large part in the IoT ecosystem. You need to simply download IoT applications in your smart devices to get the most precise information.

Robotics

The manufacturing industry was in dire need of adopting AI-focused IoT solutions. This helps in facial recognition, deep learning, big data analytics and especially robotics. Robots and robotics have always been the frontrunners of technology for decades and now, with the passage of time, they have become smarter, more reliable and more efficient. Through implanted sensors meticulous communication is facilitated. Using the fusion of AI and IoT, robots can learn and adapt to newer environments with precision. This makes the manufacturing process linear and saves time and money.

Smart Homes

The smart home ecosystem is growing and is currently valued at $91 million. It’s one of the most pleasing activities of technology where you do not have to get and go to a particular appliance and operate it. The AI-powered IoT technology enables the controlling of your light, fans, television, thermostat, ACs, etc. through your phone. Not just inside but even if you’re travelling outside, say to an outstation and you need to check whether an appliance has been wrongly set on, you can do it with a simple command. Or if you’re returning home after a tiresome day at work and need a bath, you can set the temperature of the water say 10 minutes before you reach home.

Self-driven vehicles

The thought of autonomous cars and vehicles seems exciting and thrilling at the same time. With powerful sensors, installed cameras and robust hardware and software integration, a car gathers monumental information roads, traffic, additional routes, navigation, weather conditions, consumer behaviour and whatnot. Self-driven cars are the perfect examples that will highlight the role of artificial intelligence in future technology. One major concerning factor is safety. Many will face apprehensions over their initial journeys in driverless cars, but that’s what the whole game is about. It has mindblowing learning abilities and high-powered AI mechanisms that will give priority to the passenger’s life at all costs.

Amazon Go

This is truly a masterstroke in AI technology use. To support its retail outlets, Amazon uses IoT to make the shopping experience more convenient for the user. With no cashier or even cash counters, the sensors present will optimise the entire process. For example, sensors are used to determine your activities. Like a supermarket or retail outlet, items are arranged and when you pick up any product, it automatically adds it to your cart and the moment you keep it back, it’s removed from your cart. It connects to your payment mode(s) so when you leave the store with the items, the total amount is debited from your account or online wallet. Just like self-driven cars, they used computer vision, deep learning algorithms and sensor fusion, procreating the ‘Just Walk Out’ technology.

Healthcare

This is currently the need of the hour. With the Coronavirus pandemic, everyone has become extra cautious with their health and technologies like AI and IoT are leveraging the entire healthcare system. The IoT applications and deployments powered by AI help in collecting data to provide preventive measures for a person/patient, early detection and providing drug administration. It draws data from internet-powered medical devices, medical records, fitness trackers, healthcare mobile apps, etc. Many healthcare companies around the globe are making IoT investments so that people stay safe under such hazardous conditions.

Smart Cities

This is the biggest example to show the prowess of the AI and IoT pair. If it is able to maintain civic decorum, then it speaks volumes about technology’s success. Things like smart traffic management, smart parking, smart waste management, smart policing, smart governance and many other factors are the components which constitute a smart city. The Internet of Things for smart cities changes the way cities operate and delivers amenities to the public which includes transportation, healthcare, lighting, etc. Smart cities are arguably a futuristic concept and have a lot of ground to cover. The above video explains how three cities have successfully implemented it.

There are many IoT application development company who have done a tremendous job of integrating the technology into various business types and creating something unconventional out of the banal scheme of things. AI is truly reinventing IoT along with other modern-day techs, and businesses that are vigorously using this technological emergence only have good things to say. No second thoughts need to be spared to explain — The future of IoT is AI and will remain so.

Here’s how regulatory intelligence aids strategic decision-making in real time

Posted on 27/06/202008/06/2021 by Blogs

Data is all around us. It’s created with everything we do. For the life sciences industry, this means data is being collected faster and at a greater rate than ever before. Data takes the form of structured content — from clinical trials, regulatory filings, manufacturing and marketing, drug interactions and real-world evidence — with regard to how drugs are used in healthcare settings. It also is found in unstructured content from the internet of things (IoT), such as social media forums, blogs and so on.

But having massive quantities of data is useless without the regulatory intelligence to make sense of it. Let’s define what we mean by regulatory intelligence. This is about taking multiple data sources and feeding those into a regulatory system that can look at the data, analyze it, make use of it, collect information from it, then take that information to distribute it where it needs to go. This might be to the regulatory agencies requesting updates or information about the drug portfolio to satisfy compliance mandates, it might be to partners that you’re working with, such as trading partners, or it might be consumed internally.

Although referred to as regulatory intelligence, it encompasses many other areas of the product life cycle, including clinical research and development for detailed analysis and safety and pharmacovigilance for signal detection.

Life sciences companies can leverage these different types of data for real-time decision making to protect public safety, respond to supply shortages, protect the brand, advance the brand — for example, into new indications or new markets — and for many other purposes. In this blog, I’ll explore some of these uses of regulatory intelligence in greater depth.

Know your target

Since data is consumed across the life sciences in different ways by different people and different functions, getting to the point of intelligence first requires knowing the target and objective. If there is real-world data indicating adverse events that weren’t detected in clinical trials, having that intelligence early on allows companies to act accordingly — both to protect public safety and to safeguard brand reputation. What action the company takes will depend on what the data shows, as well as what the agencies require. For example, it might simply be to reinforce a message about avoiding other medications or foods while undergoing a specific treatment or it might require a broader response.

Another way data can be leveraged for real-time strategic decision making is to advance the brand. For example, IoT data or data held by the authorities might show weakness in a competitor’s product or weakness in the market — perhaps a gap in a region the company has begun targeting. By leveraging that intelligence, companies can take advantage of those gaps or competitor weaknesses and promote their brand as a better alternative or prepare a new market launch.

Regulatory intelligence might also shine light on other potential indications for your product. These insights might be gathered from IoT sources, such as physician blogs, or from positive side effects observed in clinical trials. The most famous example is Viagra, which initially was studied as a drug to lower blood pressure. As was the case here, not all side effects are negative, and during clinical studies an unexpected side effect led to the drug’s being studied and ultimately approved for erectile dysfunction. Having that regulatory intelligence available gives you the leverage to make the case for expanding clinical studies into new indications and extending therapeutic use.

From data to intelligence

Now that we have explored the definition of and some purposes for regulatory intelligence, we should also look at how you get from that point of data to intelligence. An important first step is to deploy the right analytical tool to sift through that data and pull out relevant information. It’s equally important to know how to make use of that data, and that requires knowing your end goal and narrowing the scope of your data search to eliminate extraneous data.

Time and resources can also be saved by leveraging automation to collect data for analysis. Since data is continuously being created, updated and pushed out, automated robotic processes make it possible to keep up to date with the latest findings and pull relevant data into your regulatory operational environment.

Regulatory intelligence is the key to real-time strategic decision making across all areas of research and development. Its importance to the organization can’t be overstated.

IoT in Manufacturing: Enhancing Operational Efficiency

Posted on 21/05/202008/06/2021 by Anteelo Master

Smart factories are now a reality. IoT is building a new manufacturing landscape by connecting automated production technologies and smart manufacturing processes.

With every passing year, advanced methods and equipment enter the manufacturing space to take production capabilities to the next level. This year-on-year maturing of technological advancement is what has brought us from the first industrial revolution to the 4th industrial revolution.

The current revolution that industries are operating in, comes with its own unique set of methodologies and technologies. It is redefining operational efficiency.

While the previous revolutions worked around the specific areas of the industrial sector, the fourth industrial revolution comes powered by the ability of connectivity. In this article, we are going to look into the many aspects of how is IoT transforming manufacturing and the many challenges the sector will have to overcome to become a part of the future of IoT in manufacturing.

Welcoming the Fourth Industrial Revolution

In order to understand the true Internet of Things applications in manufacturing industry, it is necessary to look back at the industrial revolutions. Ever since the 1700s, there have been 4 revolutionary shifts in the manufacturing sector.

The first – water power was introduced for increasing efficiency of steam engine based machinery like cotton gins, loom, and conveyor, etc.

The second – emerging in the 1870s, the second industrial revolution brought us electricity. The invention of the power stations and bulbs powered factories’ automation and gave birth to the concept of mass production.

The third – emerging somewhere around the 1960s, the third revolution introduced digital technology and computers, replacing analog technologies. The phase opened the world to globalization and increased trade.

The fourth – this is the era of cognitive manufacturing. In the ongoing phase, big data, IoT sensors, robotics, and predictive analytics will merge to form a brand new definition of IoT in industrial manufacturing operations.

The fourth industrial revolution presents a glorious age for manufacturing and industrial space. Businesses are beginning to understand the massive impact of IoT in the production process, they have started initiating talks with every sound IoT development company to figure out the way to harness the IoT use cases in manufacturing. As a result of their interest, the technology is reciprocating with a number of use cases of IoT solutions in manufacturing.

How is IoT in Manufacturing Changing the Sector’s Landscape?

With IoT implementations in manufacturing becoming a new norm, there are a number of benefits manufacturers are looking to derive from the combination. Let us list down some of the most promising benefits of IoT for manufacturers.

1. Inventory management

Through the linking of equipment like smart totes, smart shelves, forklifts, etc with wireless communication and RFID, sensors, manufacturers would be able to maintain a real-time view of an inventory. On the production level, sensors linked to bins and machines will be able to provide real-time data on inventory consumption and notify the need for re-ordering or automatic refill.

2. Predictive maintenance of assets

Another impact of IoT in manufacturing industry can be seen through the role of technology in asset maintenance. With the help of sensors and RFID, IoT can monitor tools, smart machines, and vehicles, etc for equipment health and then schedule their maintenance on the basis of usage.

There are a number of IoT-based alerts driven systems that provide insight into mechanical problems that could warrant replacement or repair. It doesn’t just improve asset utilization but also helps avoid expensive downtime maintenance expenses.

3. Field Service

IoT enables manufacturers to better their capabilities as a service provider. Through sensors and connected devices, businesses can perform proactive servicing of appliances, equipment, and devices while planning field service in a more cost-effective manner. IoT solutions in manufacturing also offer visibility in the supply chain for monitoring locations, the state of products in transit, and the delivery schedules.

4. Workforce management

Information from assets, machines, and mobile devices can help businesses measure the employees’ productivity. Managers will no longer have to walk the factory floor and see how their workers are performing, they will be able to get a dashboard view of productivity measures created automatically and updated in real-time.

An example of the workforce management specific manufacturing IoT use cases can be seen in the COREIoT Workforce Management solution. It’s a turnkey project which comes with a 4G IoT gateway, wireless sensors, and a web portal that includes data analytics. The platform offers an advanced tracking facility with dwell time detection offering complete workforce visibility.

5. Quality assurance

An active role of IoT in manufacturing can be seen in the ways quality initiatives get added to the operational processes. The technology can help highlight variation in product flow and in the pre-decided guidelines set for measuring product specifications.

The result lies in improved efficiency on an overall level since products are developed according to specifications, defective production is stopped in real-time, and repairs are conducted to prevent system and equipment downtime.

6. Cognitive operations and processes

The idea of cognitive operations lies in the ability to take present data and analyze it for driving decisions around better operations, safety, and quality. A system linking technology like IoT can help analyze both structured and unstructured data like video or photos, bringing greater certainty to business operations and decision-making. Here are the different ways that help –

Better productivity of production line
Speedy repair and service call which lowers warranty costs
Improved quality.

7. Optimization and smarter resources

The last point in our list of benefits of IoT in manufacturing revolves around optimizing resources – energy, people, knowledge, and equipment. It is essential to follow the best optimization practices for keeping the cost low and bettering the overall productivity and engagement levels. With the combination of cognitive insights and IoT, it becomes possible to use data like usage, geolocation, environmental conditions, etc. for:

Better worker safety and effective workforce management
Improved worker productivity and expertise
Reduction of energy consumption by equipment and buildings.

Even amidst the growing use of IoT in manufacturing, there are some challenges that manufacturers face when it comes to the adoption of IoT solutions in their processes.

Let us look into some of those challenges that every IoT application development company has to overcome.

The Barriers to IoT Adoption in Manufacturing Sector

Interoperability of data

One of the biggest barriers that IoT app developers face is in terms of data interoperability. In the traditional manufacturing setup, the environment data are siloed according to functional or department areas. This makes it difficult for production, scheduling, engineering, and quality to be linked or be compatible for analysis. Noting the situation which nullifies the essence of IoT, it becomes very important for IoT application development services to take care of the migration of legacy systems.

Lack of IoT Skillsets

IoT is still at a developing stage, meaning employing someone with the expertise in leveraging IoT and performing its successful deployment remains a challenge. What makes the matters worse is that when we look into IoT adoption in the manufacturing space, it is not just the technology’s skillset which is required but also experience in analytics, big data, embedded software development, and electronics, and IT security, etc.

Instances of data breach

With IoT devices and software becoming common across a range of different industries and manufacturing there are growing concerns around their security proofing. Noting how IoT in manufacturing case studies works around business-crucial data and equipment, it is essential that every IoT app development company follows a security-first approach and abides by all the app security best practices to ensure a breach-proof service.

Initiate Your IoT in Manufacturing Journey With Us

Entering the sector which still has one leg dug deep in the traditional methodologies can be a challenge. As a tech-forward entrepreneur, you would need help from IoT developers who have worked with manufacturing industry stakeholders. We are here to help you.

We can help you identify the use cases that apply to your reformative idea, the process you will have to follow to counter migration issues, and how to find the best product-market fit. If you are a manufacturer struggling with similar issues or something new, reach out to us.

What is IoT? The internet of things explained

Posted on 03/03/202015/06/2021 by Tushar

Suppose you are going for a meeting to a nearby town. While traveling, a message popped on your device screen informing that the volume of petrol is going low. You were confused about what’s happening, when another message sharing the details of a nearby petrol station popped up on your smartphone device. Wondering how is that possible? Well, it’s nothing but a real-life example of IoT.

Confused about what is Internet of Things (IoT)? How does it work?

Let’s talk about it in detail in this article – starting with some exciting statistics.

Statistics Proving the Uprising Market for Internet of Things (IoT)
A Brief Introduction of Internet of Things (IoT)
Working of IoT Technology
4 Major Components of IoT Ecosystem
Ways IoT is reshaping Business world

Statistics Proving the Uprising Market for Internet of Things (IoT)

By 2019, the global IoT market will generate a revenue of $1.7T.
By 2022, 100% of the population is predicted to have LPWAN coverage.
By 2025, there will be more than 75.4B Internet of Things devices worldwide.
In 2018, there were around 7B IoT devices. However, more than 10B devices are expected to join Internet of Things ecosystem.
As of 2018, nearly half of all IoT (Internet of Things) devices were connected to WPAN (Wireless Personal Area Networks), including Zigbee, Bluetooth, and Z-wave.
54% of Enterprises invested in IoT app development because of its cost saving factor.

Now as we have taken a glimpse of IoT Trends 2020, let’s begin right from the basics.

A Brief Introduction of What is Internet of Things

IoT, also referred to as the Internet of Everything (IoE), is an ecosystem of interrelated computer devices, digital machines and objects that has the ability to transfer data to each other in real-time, with minimum human intervention.

These devices include coffee makers, washing machines, music system, TVs, wearables and other electronic devices that can communicate with each other using what is called Machine-to-Machine (M2M) communication.

While this is all about what is IoT technology, let’s turn towards its working mechanism.

Working of IoT Technology

When talking about how does IoT work, the process begins with devices that have built-in sensors. These devices are connected to IoT platforms which stores data from all the connected devices. The important data is then used to perform tasks that fulfil the needs of people.

When we say the data is stored in the IoT platforms, it doesn’t mean that all the data is useful. Devices carefully select only particular data that is relevant to execute an action. These pieces of information can detect patterns, recommendations and problems before they occur.

In this way, IoT application works with smart systems that automate tasks to address specific needs.

However, if you still have any doubts regarding how does it work, check out this video:-

With this attended to, let’s dive deeper into IoT market and see what are the prime components of Internet of Things technology.

4 Major Components of IoT Ecosystem

1. Sensors/ Devices

The foremost component to consider in Internet of Things technology is sensor/devices. A sensor picks up all the minute details from an environment. The environment can have many complexities. What makes IoT security so great is these sensors that pick up even the most sensitive changes. These sensors are built in the devices which collects all the data to be used later. For instance, our phone is a device with built-in sensors like GPS, camera, etc.

2. Connectivity

Once the data is collected it is transferred to the cloud infrastructure (also known as IoT platforms). But to transfer the data, the devices will need a medium. That’s when connections like Bluetooth, Wi-Fi, WAN, cellular networks, etc come into play. These mediums are all different and must be chosen wisely for best results.

The effectiveness IoT security highly depends on the speed and availability of these mediums.

3. Data Processing

After reaching the cloud infrastructure the data has to be analysed so that the right action can be taken. This process is however considered one of the most crucial obstacles in front of IoT app development. The analysis can be as simple as checking the temperature of the AC or a complex one such as a situation where an intruder comes in and the device has to identify it through cameras. The IoT application is made such that it can process all the data at a fast rate to take immediate actions.

4. User Interface

The last step is when the user is notified about the action with the help of a notification or an alert sound sent to the IoT mobile apps. This way the user will know that his command has been run through the systems.

However, this isn’t as easy as it seems. It all depends on what is IoT platform and how the technology has been developed. It becomes crucial for Internet of Things (IoT) app development companies to develop a system that can also be manually adjusted. In a situation where the temperature of the fridge is not cold enough to freeze ice cubes, users should be able to do that manually without the system backfiring.

Now as you have gained an insight of what this technology is, let’s take a look at what are the uses of Internet of Things in the present world – besides backing the concept of Smart Homes and cars.

What IoT Means to the Business World

1. Healthcare

IoT in Healthcare has opened new doors of opportunity for medical specialists and patients. The technology enables doctors to get a real-time access to patient medical data, store them on cloud, and share with others. It also cut down the waiting time, helps to check for the availability of hardware and equipment, and simplifies the process to identify chronic diseases and take the right actions to mitigate the risk.

2. Education

Internet of Things technology is also revolutionizing the education sector. It is connecting people worldwide to ease the process of sharing knowledge, reduce the barrier in gaining access to any data, introduce security in education system, and more – a glimpse of which you can take from the video shared below:-

3. Retail

Another domain that is enjoying a myriad of opportunities and facilities after getting an understanding of what is Internet of Things and how to incorporate it in their processes is Retail.

The industry, with the help of what we call as Internet of Things applications, is finding it easier to deliver personalized experience to their user base, automate checkout processes, perform maintenance effortlessly, and more.

4. Sharing Economy

The combination of IoT and Blockchain, i.e, (Blockchain of Things) is reshaping the Sharing economy. The dual technologies are helping to build an online marketplace where data from all the companies and stores can be stored and shared securely and effectively using the concept of Smart Contracts. And eventually, used by others with the motive to cut down the efforts required from the user end.

5. Real Estate

IoT technology is also reshaping the real estate economy by speeding up decision making process, offering more energy-efficient options, making space smart, and more.

6. Travel

Here, IoT is empowering travel agencies to deliver real-time information, automate most of the processes, and send electronic key cards on guests’ smartphone. And in this way, adding convenience, ease and security to their experience.

So, as we have covered so far in this article upon what is Internet of Things, the technology has a wider scope in almost every business vertical. But, if you still have any doubt or wish to design an IoT-based solution for your business, connect our IoT mobility experts today.

What Exactly Is Digital Transformation, and What Are Its Advantages?

Posted on 05/03/201921/06/2021 by Tushar

Digital transformation puts companies in a far more advantages, giving them all the benefits that the latest technologies bestow. However, while the adoption of new technologies is a key element of the process, deeper changes are needed before an organisation can truly reap the rewards. In this post, we’ll take a closer look at what digital transformation is and what it can offer.

What is digital transformation?

Digital transformation puts companies in a far more advantages . On one level, digital transformation is the process of adopting technologies like cloud, artificial intelligence, machine learning and the IoT in order to make business processes more effective and efficient. What makes these technologies particularly beneficial is their ability to gather and process data. This enables companies to be more informed about their processes, strategies and activities while giving them data-driven insights to help with decision-making.

The adoption of these technologies, digital transformation puts companies in a far more advantages however, is not merely something that happens in the data centre or in IT, it brings change to the entire organisation, forcing the company to rethink its goals and strategies, reorganise its structures and roles, and to make changes to processes that affect all its workforce. Indeed, for many companies, some of these changes are often necessary before the process of digital transformation can commence. Key here is the corporate attitude to digital transformation. For it to be successful, the business needs to embrace new technologies and this often requires a shift in company culture.

The driving force behind successful digital transformation is the digital leader. This is someone who clearly knows the technologies needed to transform the company and who understands the changes their deployment will bring. These leaders don’t just have belief in the project, they are also able to communicate that belief in order to bring on the cultural shift that’s required – and that’s not just in the board room; it’s across the whole business.

What are the advantages of digital transformation?

Once the company is ready to embrace new technologies and the changes they will bring, there are numerous benefits that can result. Here are some of the main ones.

Making the most of data

Digitalisation helps break down departmental silos so that data can be unified and more easily analysed. As a result, end to end customer journey mapping is attainable, while other forms of unstructured data can be combined to gain previously unobtainable insights.

Cost savings

While technologies like cloud, with its pay as you go pricing, can significantly reduce IT costs, this is just the tip of the cost-saving iceberg. New technology can help companies optimise a wide range of business processes, providing valuable data to show where efficiencies can be made

Consolidation

Modern digital technologies can transform how a business goes about its operations, helping to streamline its workflows and, in the process, cut employee workloads and reduce overheads.

Creating customer-centric businesses

One of the main benefits of digital transformation is that the data it provides about customers enables businesses to improve the customer experience. From websites that offer personalised products to communications sent at the right time and via the right channel and with the right message, digital transformation enables businesses to deliver experiences that the customer wants.

More attractive products and services

Understanding what the customer wants not only improves the customer experience, it also enables businesses to provide the products and services that the customer is looking for. It helps manufacturers with product design and retailers with inventory selection while enabling other companies to offer services which are more likely to appeal to their customers. As a result, companies become increasingly more effective in the marketplace.

Precise market segmentation

The technology available to digitally transformed businesses enables them to have far more information about their customers, helping them to discover new market segments that, in the past, they would never have been aware of.

Omnichannel customer experiences

Digital technology enables business-wide systems to be put into place so that your customers can interact and buy from you when, where and how they choose, whether that’s online or at your bricks and mortar store.

A more agile and innovative business

The modern technology that digital transformation provides is faster, more powerful and more capable than legacy IT systems. It makes it easier for teams to collaborate and enables businesses to react quickly to market changes. It also speeds up the development and launch of new products, services and strategies.

Conclusion

Digital transformation is not merely the process of deploying new technologies, it’s the adoption of a digital culture that embraces this technology and carefully manages the significant changes that it will bring to the company as a whole. As technology is in constant development, digital transformation, too, is an ongoing process. However, once the culture is in place and the technology is deployed, there are significant benefits to be had.

How the Iot is Shaping modern Business in the 21st Century

Posted on 29/01/201919/06/2021 by Tushar

The world is getting smarter. Every day, devices and modern technologies that were once standalone are getting connected to the internet. From robots to running shoes, these smart devices contain sensors that allow them to be monitored and controlled remotely and to gather large quantities of data. Collectively known as the Internet of Things (IoT) these devices are transforming modern business. Here, we’ll take a look at how.

What is IoT?

The IoT is a system that comprises the smart devices deployed by companies, together with the infrastructure and applications needed to connect, monitor and control them and to gather and analyse the data they generate.

In most cases, IoT systems are automated so that processes can be done with little or no human intervention. This often requires the use of cloud-based technologies, such as real-time analytics, artificial intelligence and machine learning. By adopting such modern technologies, highly complex operational processes can work smoothly while employee involvement can be radically reduced.

Today, IoT systems are used everywhere. Domestically, they are used by consumers to manage their homes: controlling lighting, heating, security cameras, etc., via their phones and smart speakers. Businesses and other organisations use them for a much wider range of purposes: logistics management, server monitoring, remote automation, personalisation, energy management, remote workforce monitoring and much more.

Here are some of the main ways the IoT is having an impact.

Inventory management

Inventory management is traditionally a time-consuming, labour-intensive process. The complexities of managing inventory mean data is rarely accurate or up-to-date and this often causes difficulties with procurement and order fulfilment.

Today, goods are labelled with RFID or Bluetooth tags and these are scanned automatically by IoT-connected scanners on entry to and exit from the warehouse and during transit. The scanners don’t just calculate stock levels, they also record the item’s location (making it easier to deploy warehouse robots, like Amazon) and the dates and times of movement.

Companies which use this modern technology always have accurate, real-time data about stock levels and can quickly find products in the warehouse. What’s more, the system can report issues with stock shortages, shelf-life, temperature control, travel delays and even flag potential theft from staff. On top of this, the company can be notified which stock items are in short supply and those which aren’t being sold, helping them make better decisions about procurement, product choice and pricing while ensuring that accurate fulfilment details are available.

Customer experience

The customer experience is a critical element of the modern marketing strategy, with companies going all out to satisfy the ever-increasing expectations of the consumer. Those that succeed benefit from enhanced brand loyalty and significantly increased customer lifetime value.

IoT plays a key role in enhancing the customer experience as devices are used to gather customer information from every available touchpoint. Data from mobile apps, social media interactions, home devices, customer communications, website browsing and sales histories are unified to glean insights that provide personalised customer experiences which meet the needs of the user.

Productivity

Sensors built into devices gather data that help companies drive up productivity in all areas. From production line processes to shipping delivery routes, operations and tasks can be completed quicker, more effectively and more cost-efficiently. Employee workloads are also reduced and the potential for automation is increased, enabling companies to reduce staffing levels or increase production.

Remote work and operations

IoT enables organisations to undertake remote working at levels previously inconceivable. An example which perhaps illustrates this best is the da Vinci robotic system, used by surgeons to carry out remote operations on patients. The surgeon views the patient in real-time while the connected robot holds the instruments and mimics their hand movements. Another advanced example is the real-time monitoring of aircraft engines during flight which enables specialised technicians to remotely deal with any issues that may arise.

On a less advanced level, IoT technology helps owners run their businesses or operations from anywhere in the world. During the lockdown, numerous companies have relied upon remotely connected devices to help employees work from home. Businesses that work on the go, such as plumbers, electricians, broadband installers, delivery drivers, etc., have been using IoT devices for a long time, helping them maintain schedules, track productivity, order and collect equipment and parts, obtain customer signatures and so forth.

Data-driven insights

IoT technology enables far more data to be gathered. That data can be analysed using advanced analytics programs, together with AI and machine learning, to provide previously unobtainable insights into the business. These can be used to improve efficiency, productivity, marketing and communications strategies; to predict market movements and forecast supply and demand; and to monitor machine health and improve security. When data is gathered from devices used by customers, the insights can be used to develop better products, offer better services and better meet the customer’s needs and expectations.

Conclusion

With so many connected devices for businesses to deploy, and with the infrastructure needed to make use of the IoT readily available in the cloud, IoT adoption is becoming increasingly popular amongst the business community. Its potential to bring improvements across so many areas of business operations is making it a technology hard for business owners to ignore, regardless of the industry they work in.

Ways how IoT can be an asset for businesses

Posted on 06/10/201819/06/2021 by Tushar

IoT devices enable businesses to generate large volumes of valuable data. This real-time information gives them a better insight into their performance, helping them to be more productive and efficient and have a better understanding of their customers while opening the door to innovation in workflow and new services. Here weâ€™ll look at seven ways businesses can benefit from the IoT.

1. Asset tracking

The tagging of items using inexpensive Bluetooth or RFID tags and the use of internet-connected readers to track them means almost any asset can now be connected to the Internet of Things. This enables companies not only to know where all their assets are but also to check their usage, maintenance history and, in some industries, an assetâ€™s health.

Preventing assets from getting misplaced can improve efficiency and cut down on unnecessary repurchases. In sectors like healthcare, where critical equipment can be located across a hospital, it can be life-saving. The ability to check usage and maintenance ensures compliance with regulation and helps companies understand when assets need upgrading. The monitoring of asset health is critical in many industries and can help prevent manufacturing processes coming to a complete standstill or, as in the case of inflight aircraft engine monitoring, prevent catastrophes.

2. Inventory Tracking

Tagged inventory can also be connected to the internet using the same Bluetooth or RFID technology, giving companies real-time stock level data. This can reduce the cost of manual stock taking while providing more accurate, up to date information. This provides much better inventory management and, as it is connected over the internet, can be used across multiple sites. It is ideal for retailers and for the manufacturers, wholesalers and logistics companies that serve them.

Indeed, using Low Power Wide Area Networks (LPWANs) and satellite tracking, the location of tagged inventory can even be tracked during transit.

3. Better communication with customers

The vast amount of data being collected using the IoT provides companies with the opportunity to give valuable information to their customers. In retail, for example, it enables them to offer omnichannel personalised marketing. Personalised marketing has proved very successful for online companies who use data from their websites to provide tailored offers to individuals. However, for businesses with both online and bricks and mortar stores, the IoT enables data from all forms of interaction to be collected. Supermarkets, for example, can learn about a customerâ€™s in-store habits from their loyalty cards and send them online offers tailored around this.

Other types of IoT device can also help companies send valuable communications. Smart meters, for example, can help energy companies show customers where money is being wasted or where they can save from a different energy package.

4. The development of new services

Not only does IoT data help companies send valuable data to their customers, it can also create opportunities to offer them new services. The ability to monitor asset health, as mentioned above, means businesses can also track the health of the products they sell and offer their customers add-on maintenance services.

We get our boilers serviced annually as a precaution but wouldnâ€™t it be useful if the service company knew in advance that a part was about to fail and contacted us to replace it before it packed in? The same service could be applied to cars, televisions, computers, vacuum cleaners and many other items we use.

It is not just with breakdowns where additional services could be offered. Manufacturers of products which use consumable parts could monitor when those parts were due for replacement and offer a service to send them before they ran out. This would be ideal for replacing ink cartridges, lightbulbs and batteries, etc.

5. Improved security

Todayâ€™s IoT-enabled CCTV cameras bring many security advantages. Any business owner can now view multiple premises, internally and externally, from anywhere. And the advancement in CCTV technology means these systems use AI to identify suspicious activity, send out warning notifications and use facial and other visual recognition signals to track and record perpetrators.

6. Visual analytics

The same IoT technology is also helping businesses to gain greater insight into customer and employee behaviour. Connected cameras using artificial intelligence can gather valuable data which enables retailers to better understand how their customers interact with their store layouts, promotional materials and product displays. With employees, it is possible to learn how individuals interact with machinery, use their time and undertake processes. This can help improve workflows and lead to greater efficiencies on the shop floor.

7. Efficiencies and improvements

IoT data can help businesses make major efficiencies and develop improvements. It helps manufacturers speed up workflow and cut bottlenecks. It enables logistics companies to reduce energy costs, reroute vehicles when there are traffic jams or organise deliveries for the quickest routes. It even helps theme parks know which attractions are most popular and when: ensuring adequate numbers of staff are available and that unpopular attractions are replaced.

Conclusion

The data gathered from IoT devices is enabling companies to make important changes to the way they operate. It can improve asset and inventory management, enable better communication with customers and offer the potential for new services. It can also improve security, offer insights into customer and employer behaviour and help introduce efficiencies and improvements.

The merger: How AI and IoT joined forces

Advantages of AI and IoT in business

Data collection, sharing and formulating user perceptions

Elimination of downtime

Strengthening security measures

Automated operational efficiency

Helps in processing business analysis

Better at Risk Management

Scope for new and improved products and services

Examples where AI and IoT are showing brilliance

Wearables

Robotics

Smart Homes

Self-driven vehicles

Amazon Go

Healthcare

Smart Cities

Know your target

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From data to intelligence

Welcoming the Fourth Industrial Revolution

How is IoT in Manufacturing Changing the Sector’s Landscape?

1. Inventory management

2. Predictive maintenance of assets

3. Field Service

4. Workforce management

5. Quality assurance

6. Cognitive operations and processes

7. Optimization and smarter resources

The Barriers to IoT Adoption in Manufacturing Sector

Interoperability of data

Lack of IoT Skillsets

Instances of data breach

Initiate Your IoT in Manufacturing Journey With Us

Statistics Proving the Uprising Market for Internet of Things (IoT)

A Brief Introduction of What is Internet of Things

Working of IoT Technology

4 Major Components of IoT Ecosystem

1. Sensors/ Devices

2. Connectivity

3. Data Processing

4. User Interface

What IoT Means to the Business World

1. Healthcare

2. Education

3. Retail

4. Sharing Economy

5. Real Estate

6. Travel

What is digital transformation?

What are the advantages of digital transformation?

Making the most of data

Cost savings

Consolidation

Creating customer-centric businesses

More attractive products and services

Precise market segmentation

Omnichannel customer experiences

A more agile and innovative business

Conclusion

What is IoT?

Inventory management

Customer experience

Productivity

Remote work and operations

Data-driven insights

Conclusion

1. Asset tracking

2. Inventory Tracking

3. Better communication with customers

4. The development of new services

5. Improved security

6. Visual analytics

7. Efficiencies and improvements

Conclusion

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