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Avnet’s IoT Strategy Ranges from Sensors to AI Technology

August 14, 2019 / Brian Buntz

While some industry observers true AI does not yet exist, the bulk of the public view AI in more generic terms. In an IoT context, a growing number of companies are billing AI technology — machine learning in particular — as essential to make sense of their exploding data streams. As the lines blur between IoT, AI and other buzzwords such as digital transformation, some vendors are marketing themselves as a one-stop-shop. They aim to help clients navigate and scale IoT deployments while also assisting them in framing technologies like AI in a business context. One such company is Avnet, one of the world’s largest distributors of electronic components. Founded in 1921 by Charles Avnet and incorporated in 1955, the company’s business initially was focused solely on hardware. “For the first 70 years, not much changed,” Lutostanski said. “We were selling parts.”