Big Data (BD), The Internet of Things (IoT), Artificial Intelligence(AI)-driven Advanced Analytics

Abstract

The Internet of Things (IoT) has continued to be a key development in the tech industry throughout 2017, with many businesses looking to utilise IoT within their key processes and daily tasks. The IoT refers to the world’s collection of devices that gather and share information across various industries and sectors. IoT concerns the devices, connectivity, and data. The main purpose of IoT is to create smarter devices that will successfully deliver intellectual insights into those products. It helps in opening a new business prospect. With the onset of numerous smart devices, the intervention of Big Data has become mandatory. It will not only gather proper information but will also capture the data in a particular style. IoT assists in new developments in technology, with the help of AI and big data it is also enabling us to access data in real time. This real-time data has helped to improve key process within business, moving towards a ‘smart’ and more efficient society. IoT is already one of the key sources for real-time data for AI applications, and enables the decision of AI to be carried out. AI technology is also at the core of predictive analytics and maintenance for IoT. By combining these technologies together costs are reduced and the adoption of new technologies will be done at a much quicker rate. The big data collected from IoT sensors enables AI to make decisions based on potential issues or maintenance work that needs to be fixed on machinery and as a result the business owner is aware well in advance of any technical issues that may need to be addressed. They provide business owners/managers with the data that they need to make key decisions, working towards increasing the efficiency of business processes. Increasing the efficiency of a business will decrease costs, saving businesses considerable amounts of money that can be utilized for other activities. The relationship between IoT, Big Data and AI creates ample opportunity for business to harness exponential growth. A combination of IoT, big data and AI could help futuristic developments and applications to reach new future and they will shape our future.