IoT Security
Article | June 27, 2023
The evolution of internet-based market models has changed the way businesses operate. Present-day businesses know that data visualization in business intelligence is integral to competitive success. Therefore, businesses are now expanding their data and intelligence retrieval capacities. As a result, IoT (Internet of Things) data visualization is gaining popularity among industrialists and researchers across various disciplines.
In corporate finance, IoT-based efficient data visualization analyses data from multiple sources with the help of corporate analytics management tools and manages data quality for business intelligence to reduce the risk of leaks.
Impact of IoT Data Visualization on Corporate Finance BI
Data is everywhere— right from a customer's first visit to your company’s website until he signs out, all the behavioral patterns and data are tracked. All this data becomes useless unless it is utilized for a particular purpose.
Analyzing this data to predict future trends is one of the significant benefits of smart data visualization tools and technologies. It helps to slice and dice the data gained from different sources of different complexity levels to the minute granular level. Business intelligence utilizes these insights and the existing database to run risk analysis.
It gives an overview of your financial performance and the risks and exposures it faces. And if you switch the KPIs at the center of any dashboard, your entire team can instantly access the most important and relevant data.
IoT data visualization can measure big data on customers more efficiently, allowing organizations to add value to their customers. Customized tools will analyze your customers’ data and produce reports according to specific customer needs to help you get a deeper insight. Corporations can also utilize this data to better understand their competitors’ benchmarks.
Customizable IoT Data to Store Millions of Data Points in One Place
IoT collects millions of data from various complex sources. The data visualization dashboard contains multiple widgets that convert this data into various forms, such as line graphs, geographical maps, bar charts, pie charts, gauges, heat maps, etc.
This information, transmitted into multiple visualizations, helps organizations to unlock every piece of data into a valuable asset.
The Benefits of Using IoT Data Visualization
Businesses can collect, analyze and monitor a variety of data using IoT, such as internet usage data, video surveillance data, mobile app usage, and social media. It helps businesses to design products and provide personalized value-added services to drive better consumer engagement. Here are some key benefits IoT data visualization offers:
Unlock multiple insights across various verticals
Addressing important financial concerns proactively
Combination of multiple data sources into a single insightful dashboard
Multi-layered visual data.
Combines new data with the existing data to analyze new business opportunities.
Better performance on IoT data flow.
Analyze multiple data correlations in real-time
Improved Collaboration
Well-coordinated and efficient performance.
Cost reduction
Accurate data interpretation
Mitigate risk factor
Better decision making
Conclusion
Hands down, IoT data visualization intelligence in a company’s business operations will lead to better decision-making. But, before you choose an IoT data visualization tool for your business, you should know what kind of data you need to analyze and if you need any additional historical data. Because IoT services offer data visualization tools and techniques to analyze and monitor the data accordingly to predict future trends. So, it’s important to identify the goals before selecting a tool for your organization.
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IoT Security
Article | October 11, 2023
We live in the age of technological advancement and progress is happening at an unprecedented speed. With newer technologies emerging every day, it is unreasonable to not be intrigued by their implications on business. Artificial Intelligence and the Internet of Things are two independent technologies that are changing the face of several industries, one advancement at a time. While Artificial Intelligence promises to automate and simplify everyday tasks for humans, the Internet of Things is rapidly bridging the gap between physical and digital. The convergence of these two technologies promises to simplify lives through connected devices.
This convergence has already been witnessed in several industries and is being hailed as the Artificial Intelligence of Things or AIoT. Experts across industries claim that Artificial Intelligence of Things is set to redefine the future of the industry and mold intelligent and connected systems.
Applications
The Artificial Intelligence of Things is a congruence of AI and IoT infrastructures being used to achieve several applications across industries more accurately and efficiently. We already know that IoT generates scores of data, but this data is pretty useless in its raw form, it the organization, analysis, and interpretation of the data that makes it invaluable. Manually parsing through all of that data can take months given the sheer volume of it. This is where AI comes in. Modern AIs are programmed to efficiently handle large amounts of data to turn them into coherent pieces of information. Together, IoT and AI make for a great technological tool for business. Take a look at some other applications of AIoT in business.
Marketing
Good marketing comes from a series of well informed and well-researched decisions. For example, deciding on where the budget is allotted, what market strategy is put into action, or which campaign is prioritized. While human decisions can be fallible, most businesses today cannot afford to make big mistakes. This is where AIoT turns into a big help. Through the Artificial Internet of Things, marketers can get reports about market trends, probabilities, customer behavior, and more, most of these in real-time. These reports help marketers make informed decisions that are much likely to result in success.
Drones
Drones are one of the biggest advancements of IoT technology. In fact, drones are so popular with such varied applications, that drones can be talked of as a separate technology in themselves. These flying machines were originally invented for military purposes such as surveillance or weapon deployment but markets have rapidly found utility in drones for many other purposes. Today, they are being used as delivery bots, nature conservation, surveillance mechanisms, research tools, safety equipment, field substitutes, agriculture, geo-mapping, and a lot more.
With AIoT, drones have become smarter, more adaptable, and way more useful. As Artificial intelligence allows drones to make minor decisions, their applications have gotten wider and more sophisticated. In a brilliant use case of AIoT, a drone enthusiast named Peter Kohler has started the Plastic Tide Project which uses drones to locate plastic on the ocean surfaces. The drones are powered by AI which allows them to locate plastic and not other elements like marine life or corals. These drones then hover over the plastic waste and speed up the ocean cleaning process.
Drones can be used to map farmlands, determine the optimum farming processes and schedules, count the cattle, monitor their health, and even undergo certain physical tasks in agriculture, all thanks to the Artificial Intelligence of Things.
AR/VR
Augmented Reality and Virtual Reality are both heavily data-dependent technologies. There cannot be a convincing virtual reality unless there is data available for creating the said simulation. AR and VR have both found applications in several industries like healthcare, gaming, training, education, design, and manufacturing. Most of these applications fall in the critically important category and therefore, the AR or VR must be accurate to the minutest detail. This can only be achieved with mounds of data from the actual reality. With the help of IoT, this data is not accessible, and AI interprets it in a way that it can be turned into several different formats.
Infrastructure
One of the most useful applications of AIoT has been infrastructure. Artificial Intelligence of Things has fuelled innovation and planning for smart cities across the world. With the open data available for urban planning, cities are now becoming safer and more convenient to live in. AIoT has also made it possible to optimize energy consumption and ensure safer roadways through traffic surveillance. With smart energy grids, smart streetlights, and smart public transport, energy consumption and carbon emissions are both controlled.
Moreover, AIoT has given a whole new life to urban design, and now comfort and aesthetics do not have to be sacrificed for convenience.
Energy
As we discussed above, Artificial Intelligence of Things is instrumental in optimizing energy consumption in urban areas. However, the applications of AIoT in the energy sector are not limited to smart cities. Many utilities providers across the globe are already gearing up to incorporate AIoT in their process. The expected benefits from the Artificial Intelligence of Things range from improved grid management, power quality, reliability, and restoration resilience to enhanced cybersecurity and better integration of distributed energy.
Most utilities providers have still not adopted the new technology but with the increasing complexity of grid management and higher customer experience demands, there is no denying that they will have to deploy AIoT solutions to tackle these.
Robotics
In layman’s experience robots are either extremely sophisticated machines from sci-fi that undertake every task humans can and more, or they are these clunky things that can pass you the butter. In practice, however, robotics is a lot more practical than these ideas. Today, robotics is at the forefront of AIoT applications.
The Artificial Intelligence of Things is being used in robotics for several applications such as surgical procedures, manufacturing, and even first aid. In healthcare specifically, AIoT powered robots are taking huge leaps. Robotic surgery eliminates the chance of human error and offers a much more precise surgical experience with minimum invasion. This enhances the success rate of surgery and aids faster recovery in patients.
Logistics
The convergence of AI and IoT has made a huge impact on logistics as it is now possible to automate the entire process, track the goods, as well as monitor the entire trajectory from deployment to delivery. With the addition of drones and robotics, even the last mile delivery can be automated with zero human intervention. This makes for faster delivery, better customer experience, as well as a well-designed supply chain management system.
Industrial
As the concept of adding smart sensors to physical objects emerged in the 1980s, a new term was coined a decade later—Industrial Internet of Things. IIoT is now a huge phenomenon of automating and optimizing industrial operation technologies across the globe. As IIoT is deployed in several factions of the industry including manufacturing, supply chain management, human resources, and energy management, these devices and sensors generate a massive amount of data daily. The data generated from even a single process can be dizzying, and this is where AI makes a difference. AI can not only manage this data but also find the relevant points of data and analyze it for business purposes.
Edge Computing
Artificial Intelligence has given way for another technology i.e. Edge computing. Edge computing allows a device to process data itself rather than rely on remote data servers to do so. It may seem like a small feat but think of the possibilities it offers—drones don’t have to be connected to find their way, smart appliances can interact with each other without a shared network, and thermostats can change the temperature based on your past preferences automatically.
Edge computing is by no way a new technology but, in the future, it offers huge possibilities like smart automobiles and aircraft, or even robots in every home.
Frequently Asked Questions
What are the examples of Artificial Intelligence?
Some of the most common examples of Artificial Intelligence are Google Maps and Uber. The AI allows you to find routes to any destination and even hail rides there.
How does AI help IoT?
Artificial Intelligence can comb through millions of data points in seconds to come up with patterns and analyze them. As IoT generates a lot of data continuously, AI is a powerful and complementary technology that helps IoT.
Is IoT related to Artificial Intelligence?
Internet of Things and Artificial Intelligence are two separate technologies that interact with each other well as their functions aid each other progress. AI helps with the data generated by IoT, and IoT provides relevant data for AI to analyze.
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IoT Security
Article | July 17, 2023
For businesses, the transformative power of IoT is increasingly significant with the promise of improving operational efficiency and visibility, while reducing costs.
However, IoT does not come without risks and challenges. While concerns over security and data privacy continue to rise, the lack of IoT standards remains one of the biggest hurdles. The increasing number of legacy, single-vendor, and proprietary solutions cause problems with disparate systems, data silos and security gaps. As IoT successes become more dependent on seamless interoperability and data-sharing among different systems, we want to avoid the scenario of a fragmented market with numerous solutions that simply don’t work with each other.
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Enterprise Iot
Article | June 2, 2022
Introduction
Automation, interconnectivity, machine-learning, and real-time data are part of Industry 4.0, a new phase in the Industrial Revolution. Industry 4.0, which includes IIoT and smart manufacturing, combines physical production and operations with smart digital technologies. It creates a more holistic and linked environment for manufacturing and supply chain management organizations.
In today's production environment, "automation" has a new, more advanced meaning than it has in the past. Industry 4.0 refers to the necessity of lean, efficient operations and the function of sustaining and improving production. In contrast, IIoT distinguishes manufacturing gadgets from consumer products that can connect wirelessly to internal networks and the internet.
IIoT Powering the Fourth Industrial Revolution
Manufacturing, logistics, oil and gas, transportation, mining, aviation, energy, and other industries use the IIoT. Its main goal is to improve operations, mainly through process automation and maintenance. IIoT capabilities improve asset performance and allow for improved maintenance management. The introduction of Industry 4.0 technologies marked a significant milestone in the human-machine relationship's history. I4.0 was first talked about in 2011. Since then, it has proliferated because of new technologies such as cyber-physical systems, IT/OT convergence, AI/ML, Blockchain, and AR/VR.
Data is at the heart of the Fourth Industrial Revolution. The growth of the Internet of Things (IoT) is one of the main reasons behind this. The IoT is making a significant contribution in making businesses smarter and improving their workflows. Moreover, more data is being made and used by connected devices than ever before, from the home to the factory.
In order to thrive in the fourth industrial revolution, businesses must embrace new technologies. The general structure of IIoT applications is defined by standards-based industrial system architectures such as the Industrial Internet Consortium's Reference Architecture. Sensors and IoT devices, IoT middleware platforms, IoT gateways, edge/cloud infrastructures, and analytics applications are all part of the stack.
The Future of the IIoT
The Industrial Internet of Things (IIoT) is primarily regarded as one of the most significant current and future trends influencing industrial companies.
To comply with new rules, industries are rushing to upgrade their systems, machinery, and equipment. This is necessary to keep up with market volatility and deal with disruptive technologies.
Safety, efficiency, and profitability have all improved dramatically in industries that have adopted IIoT. As IIoT technologies become more widely adopted, this tendency is projected to continue.
Conclusion
The fourth industrial revolution has drastically altered our perceptions of things in the workplace. At a rapid rate, capitalists are becoming more interested in sophisticated ideas.
The way forward is to embrace existing and emerging technology throughout fundamental operations to unleash more enticing possibilities. It emphasizes the importance of comprehending the impact collaborative ecosystems can have as well as how they will become a major differentiator for generating value with a better-trained workforce.
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