ERP News

Why businesses need to take advantage of Big Data, IoT and AI now

768 0

With the rate of progress only getting faster, there is no better time for businesses to delve deeper into what the holy tech trinity can do for their future growth.

With competition higher than ever before, it’s no secret that in order to keep up and surpass competitor’s businesses must adopt the latest innovations. New technologies are coming together at an unprecedented rate to provide services for enterprise and businesses that don’t adopt these platforms will risk falling behind.

The Internet of Things (IoT), Big Data and Artificial Intelligence (AI) have all been subjected to enormous media hype, which of course should be taken with a pinch of salt, but also mustn’t be ignored. These three, if executed effectively, hold an immense potential to transform global enterprise. In fact, they have already made a significant impact across various industries over the last decade, empowering the exponential boom of insight, innovation and progress framing modern enterprise as we know it.

Yet, it is surprising to note that businesses are only scratching the surface when it comes to taking full advantage of what these three technologies have to offer. With the rate of progress only getting faster, there is no better time for businesses to delve deeper into what the holy tech trinity can do for their future growth.

Power in numbers – IoT, Big Data and AI

‘Three’s a crowd’ – the age old saying that in many cases rings true. However, with the tech trinity this is definitely not the case. This presumptuous mindset is creating a lack of understanding around all three individual technologies – IoT, Big Data and AI –  and how they can work harmoniously together, which in turn is preventing business leaders from taking full advantage of this trinity.

IoT is the epitome of an IT ecosystem – a global network of connected devices, ranging from household devices to industry machines and buildings, open to every and any application. The sensors, known as ‘dumb’ sensors, within these smart devices collect and exchange copious amounts of data from every single connected device.

As it stands, we are expected to reach 50 billion connected devices by the year 2020, with the global total global worth of IoT reaching $6.2 trillion – lead by devices in health care ($2.5 trillion) and manufacturing ($2.3 trillion) by 2025. Regarding consumer devices, global predictions are totalling $725 billion by the end of this year alone, according to Gartner.

For Full Story, Please click here.

Leave A Reply

Your email address will not be published.

*

code