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Telenor's IoT Prediction Report 2024

Earlier this year, Telenor IoT, a leading brand in IoT Connectivity, published its annual IoT Predictions Report. It explains how combining Artificial Intelligence (AI) and the Internet of Things (IoT), also known as AIoT or AI4IoT, is necessary for companies to stay competitive in today’s digital world.

Quoting from the report:

AIoT is the convergence of AI technologies into an IoT application where IoT represents data and AI - a set of analytical tools that enable extraction of value from data, also commonly termed ‘Internet of Intelligent Things’, ‘IoT with AI’, and ‘IoT Machine Learning’. These terms can be used interchangeably, and each describes an architecture that integrates both technologies in a single solution, a combination which can create a transformative impact.

As seen in the diagram to the left, the integration of AI into an IoT deployment can occur at either the edge or in the cloud. The ability of cloud computing to offer scale, flexibility, and power beyond the reach of traditional on premises equipment has made it the traditional platform for analytics and AI, helping manage vast volumes of data and transform them into impactful insights. Recently though, Edge AI has gained more traction as a way to address low-latency requirements, reduce cost, and mitigate security and privacy concerns.

In either scenario, the essential aim of using AI is to find patterns in data and run the analysis for extracting meaningful insights for business or automating the tasks, in turn improving decision making processes. Simply put, AIoT enables a conversion of raw data into powerful action with a tangible business value. If done correctly, a faster, more robust and sustainable use of IoT data for value creation can be achieved when deploying most modern data and AI technologies, such as Generative AI.

To put it another way, IoT provides the data while AI furnishes the power to unlock responses. A simple analogy for AIoT is the human body. In this scenario, the IoT is the central nervous system, responsible for collecting data and transmitting this information through its network. AI would be the brain; it takes this collected information, analyzes it to determine its importance, and decides how to respond. Although each system has specific functions, they are all interconnected and dependent on one another, and their convergence makes the other more effective.

You can download the report here. An interview on this is embedded below:

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