Boom of Data Driven Technologies IoT and AI for Better Future

Data-Driven technologies AI and IoT are both interconnected with each other. IoT is about the connecting machine and making use of generated data from those machines and AI helps machine to behave like a human in an area like face recognition, learning and solving probs and decision making.IoT is a popular topic in the industries and it is predicted that by 2020, it will be 30 million IoT devices in the market. AI is simulating intelligent behavior in the machine of all kinds. Both the technologies are buzzing in the industries and many industries are already adopting and investing in these technologies to make it a part of their products and services. Data-driven technologies AI and IoT are now becoming thriving technologies that surround the lives of millions of people across the globe. Both these technologies are practiced on collecting and generating data. Bringing IoT and AI together will make the process of automation more effective. Reinventors are understood that adding of AI in the IoT will help in reaching the full potential of IoT. As such, they help businesses to boost their services by better understand human behavior and needs. They also analyze their competitor’s responses to their customer so that they can refine and retain their customer responses. This is helping them move from capturing data to using at its best. ·         Get Improvement in the Customer Experience- IoT and AI both the terms which are picking up steam in our daily lives makes better customer experience and offer several benefits for both customer and business.  Welcoming the magic big data and use to satisfy customer. Time has gone where you need to make guess on customer needs and desires, now AI will help you to understand better human behavior and this make a major difference in your brand success. ·         Better Risk Management- Combining AI with IoT offers opportunities to better assess, understand and predict risk. It also helps instant automate responses, so chances of worker safety increase and decreases the possibilities of cyber hacks and threats. Now many banks are already using AI to recognize any suspicious activities in real-time. ·         Helpful in Business Analysis Process- As more people move to urban area, it’s important to find a balance in between supply and demand. Togetherness of IoT and AI make the business services easier by managing their inventory and reduces the pressure on stock by knowing when to refill the stock. This helps in saving to retailers from buying too many products to discover they can’t sell all. This will be more beneficial technique to them as compared to the current which they are using currently. ·         Increases Operational Efficiency – As AI can easily generated precious prediction, it helps in your business to run efficiently. Moreover, they also give your organization a useful insight of time-consuming and redundant task you can automate and operational processes you can fine-tune even more so they become even more efficient. ·         Redesigning of Product and Services – In this IoT age, Businesses redesign their product and services. Now the designing will depend upon what their customer desires and phase out those features. For instance, Manufacturing businesses of home appliances will not just sell their products, but also monitor the usage of their smart products and monetize their customer behavior. These products redesign will be brought about by the AI. Originally posted at – http://bit.ly/2EKF3V6

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