According IoT Analytics, there are over 17 Billion connected devices in the world as of 2018, with over 7 Billion of these “internet of things” (IoT) devices. The Internet of Things is the collection of those various sensors, devices, and other technologies that aren’t meant to directly interact with consumers, like phones or computers. Rather, IoT devices help provide information, control, and analytics to connect a world of hardware devices to each other and the greater internet. With the advent of cheap sensors and low cost connectivity, IoT devices are proliferating.
It is no wonder that companies are inundated with data that comes from these devices and are looking to AI to help manage the devices as well as gain more insight and intelligence from the data exuded by these masses of chatty systems. However, it is much more difficult to manage and extract valuable information from these systems than we might expect. There are many aspects and subcomponents to IoT such as connectivity, security, data storage, system integration, device hardware, application development, and even networks and processes which are ever changing in this space. Another layer of complication with IoT has to do with scale of functionality. Often times, it’s easy to build sensors to be accessed from a smart device but to create devices that are reliable, remotely controlled and upgraded, secure, and cost effective is a much more complicated matter.