AIoT: When AI Meets the Internet of Things
The Internet of Things (IoT) is a technology helping us to reimagine daily life, but artificial intelligence (AI) is the real driving force behind the IoT’s full potential.
From its most basic applications of tracking our fitness levels, to its wide-reaching potential across industries and urban planning, the growing partnership between AI and the IoT means that a smarter future could occur sooner than we think.
This infographic by TSMC highlights the breakthrough technologies and trends making that shift possible, and how we’re continuing to push the boundaries.
AI + IoT = Superpowers of Innovation
IoT devices use the internet to communicate, collect, and exchange information about our online activities. Every day, they generate 1 billion GB of data.
By 2025, there’s projected to be 42 billion IoT-connected devices globally. It’s only natural that as these device numbers grow, the swaths of data will too. That’s where AI steps in—lending its learning capabilities to the connectivity of the IoT.
The IoT is empowered by three key emerging technologies:
- Artificial Intelligence (AI)
Programmable functions and systems that enable devices to learn, reason, and process information like humans.
- 5G Networks
Fifth generation mobile networks with high-speed, near-zero lag for real time data processing.
- Big Data
Enormous volumes of data processed from numerous internet-connected sources.
Together, these interconnected devices are transforming the way we interact with our devices at home and at work, creating the AIoT (“Artificial Intelligence of Things”) in the process.
The Major AIoT Segments
So where are AI and the IoT headed together?
There are four major segments in which the AIoT is making an impact: wearables, smart home, smart city, and smart industry:
Wearable devices such as smartwatches continuously monitor and track user preferences and habits. Not only has this led to impactful applications in the healthtech sector, it also works well for sports and fitness. According to leading tech research firm Gartner, the global wearable device market is estimated to see more than $87 billion in revenue by 2023.
2. Smart Home
Houses that respond to your every request are no longer restricted to science fiction. Smart homes are able to leverage appliances, lighting, electronic devices and more, learning a homeowner’s habits and developing automated “support.”
This seamless access also brings about additional perks of improved energy efficiency. As a result, the smart home market could see a compound annual growth rate (CAGR) of 25% between 2020-2025, to reach $246 billion.
3. Smart City
As more and more people flock from rural to urban areas, cities are evolving into safer, more convenient places to live. Smart city innovations are keeping pace, with investments going towards improving public safety, transport, and energy efficiency.
The practical applications of AI in traffic control are already becoming clear. In New Delhi, home to some of the world’s most traffic-congested roads, an Intelligent Transport Management System (ITMS) is in use to make ‘real time dynamic decisions on traffic flows’.
4. Smart Industry
Last but not least, industries from manufacturing to mining rely on digital transformation to become more efficient and reduce human error.
From real-time data analytics to supply-chain sensors, smart devices help prevent costly errors in industry. In fact, Gartner also estimates that over 80% of enterprise IoT projects will incorporate AI by 2022.
The Untapped Potential of AI & IoT
AIoT innovation is only accelerating, and promises to lead us into a more connected future.
|Edge computing||Smart thermostats|
|Voice AI||Smart speakers||Natural language processing (NLP)
ePayment voice authentication
|Vision AI||Massive object detection||Video analytics on the edge
Super 8K resolution
The AIoT fusion is increasingly becoming more mainstream, as it continues to push the boundaries of data processing and intelligent learning for years to come.
Just like any company that blissfully ignored the Internet at the turn of the century, the ones that dismiss the Internet of Things risk getting left behind.
—Jared Newman, Technology Analyst
Ranked: America’s 20 Biggest Tech Layoffs Since 2020
How bad are the current layoffs in the tech sector? This visual reveals the 20 biggest tech layoffs since the start of the pandemic.
Ranked: America’s 20 Biggest Tech Layoffs This Decade
The events of the last few years could not have been predicted by anyone. From a global pandemic and remote work as the standard, to a subsequent hiring craze, rising inflation, and now, mass layoffs.
Alphabet, Google’s parent company, essentially laid off the equivalent of a small town just weeks ago, letting go of 12,000 people—the biggest layoffs the company has ever seen in its history. Additionally, Amazon and Microsoft have also laid off 10,000 workers each in the last few months, not to mention Meta’s 11,000.
This visual puts the current layoffs in the tech industry in context and ranks the 20 biggest tech layoffs of the 2020s using data from the tracker, Layoffs.fyi.
The Top 20 Layoffs of the 2020s
Since 2020, layoffs in the tech industry have been significant, accelerating in 2022 in particular. Here’s a look at the companies that laid off the most people over the last three years.
|Rank||Company||# Laid Off||% of Workforce||As of|
Layoffs were high in 2020 thanks to the COVID-19 pandemic, halting the global economy and forcing staff reductions worldwide. After that, things were steady until the economic uncertainty of last year, which ultimately led to large-scale layoffs in tech—with many of the biggest cuts happening in the past three months.
The Cause of Layoffs
Most workforce slashings are being blamed on the impending recession. Companies are claiming they are forced to cut down the excess of the hiring boom that followed the pandemic.
Additionally, during this hiring craze competition was fierce, resulting in higher salaries for workers, which is now translating in an increased need to trim the fat thanks to the current economic conditions.
Of course, the factors leading up to these recent layoffs are more nuanced than simple over-hiring plus recession narrative. In truth, there appears to be a culture shift occurring at many of America’s tech companies. As Rani Molla and Shirin Ghaffary from Recode have astutely pointed out, tech giants really want you to know they’re behaving like scrappy startups again.
Twitter’s highly publicized headcount reduction in late 2022 occurred for reasons beyond just macroeconomic factors. Elon Musk’s goal of doing more with a smaller team seemed to resonate with other founders and executives in Silicon Valley, providing an opening for others in tech space to cut down on labor costs as well. In just one example, Mark Zuckerberg hailed 2023 as the “year of efficiency” for Meta.
Meanwhile, over at Google, 12,000 jobs were put on the chopping block as the company repositions itself to win the AI race. In the words of Google’s own CEO:
“Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today… We have a substantial opportunity in front of us with AI across our products and are prepared to approach it boldly and responsibly.”– Sundar Pichai
The Bigger Picture in the U.S. Job Market
Beyond the tech sector, job openings continue to rise. Recent data from the Bureau of Labor Statistics (BLS) revealed a total of 11 million job openings across the U.S., an increase of almost 7% month-over-month. This means that for every unemployed worker in America right now there are 1.9 job openings available.
Additionally, hiring increased significantly in January, with employers adding 517,000 jobs. While the BLS did report a decrease in openings in information-based industries, openings are increasing rapidly especially in the food services, retail trade, and construction industries.
Datastream5 days ago
Ranked: The Top Online Music Services in the U.S. by Monthly Users
Automotive2 weeks ago
The Most Fuel Efficient Cars From 1975 to Today
Datastream3 days ago
Super-Sized Bets for Football’s Big Game (2013-2022)
Technology4 weeks ago
Prediction Consensus: What the Experts See Coming in 2023
VC+2 weeks ago
Get VC+ Before Prices Increase on February 1st
Technology2 days ago
Ranked: America’s 20 Biggest Tech Layoffs Since 2020
Energy4 weeks ago
Mapped: Biggest Sources of Electricity by State and Province
Economy2 weeks ago
The $16 Trillion European Union Economy