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Why the IoT will Disrupt the Logistics Market
Faraday Technology Corporation is a leading fabless ASIC vendor as well as a silicon intellectual property (SIP) provider. Statistically, Faraday has been acknowledged its innovative power with over 3,000 successful designs...
Article | March 24, 2020
Internet of Things (IoT) sensors predominantly provide visibility to an operating stack – enabling access to real-time and accurate operational data. Laying analysis on top of that data produces dashboards and other visual representations but artificial intelligence (AI) extends this further by harnessing the data streams to train models and identify patterns. Observations can then be made by a computer much like a human analyst could but at tremendous speed and scale. AI makes it possible to anticipate and predict events in a robust and scalable way. This can create huge business advantages. In this article, we’ll look at applications of AI and IoT in construction.
The Internet of Things has been a breakthrough, and adoption rates keep exploding. There are possibly over 20 billion IoT devices in the world, and by 2025, there may have been 75 billion. Even though there has been a rise in smart home devices, most IoT devices are found in businesses, industries, and healthcare. The benefits are overwhelming: from enabling automation of repetitive tasks (both simple and complex), to real-time data insights and analytics, IoT devices make workers more productive, improve customer experience, and reduce operating costs. However, with the many benefits of IoT devices come serious disadvantages, chief of which is security. Here are some reasons why IoT devices have such serious security risks:
Customer touchpoints throughout the automotive sales cycle are prime candidates for IoT innovation. Across the board, the data derived from these IoT applications have the capability to provide insights and actionable outcomes which can significantly improve the customer experience. When a customer arrives at a dealership, it may be difficult for the dealer to know if they have what the customer is looking for. For instance, a customer might be coming in to see a particular vehicle, test-drive a car they’ve already seen, or to casually browse their options. Without any data behavior on the customer beforehand, sales personnel or the dealership may not be properly equipped to handle the customer’s request. Perhaps a requested car is no longer on the main show floor for immediate display but instead buried somewhere in a backlot. Maybe another car that was requested for a test drive may not yet be properly serviced for operation. These are only a few of the challenges associated with automotive sales that IoT is capable of helping to improve.
Perhaps no more than a decade ago, the notion of ‘smart cities’ probably implied thoughts of which metropolitan areas could be said to have the greatest density of schools, colleges and universities. You want a smart city? Okay, how about Oxford, Cambridge, Massachusetts, Washington DC, Paris and so on. But that’s (obviously) not what we mean by smart cities today. In this post-millennial age, we define a smart city is a municipality that uses information and communication technologies (many of which will gravitate towards the Internet of Things (IoT) and the data backbones that serve it with application processing, data analytics and increasing amounts of AI) to increase operational efficiency, share information with the public and improve both the quality of government services and citizen welfare.
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