The Internet of Things (IoT), namely the integration of physical items into the Internet, items like appliances, smart homes, wearables, smart cars, and smart TVs, is increasing exponentially. Businesses have already seen how they can benefit from building apps specifically for uses such as Android Auto Apps or smartwatches. Of course, with growth comes some challenges, namely scalability, mobility, accessibility, and even security. The solutions to these challenges might already exist in the form of other technologies, in particular artificial intelligence and blockchain. The union of IoT, blockchain, and AI has the potential to bring new opportunities to businesses.
The Internet of Things
IoT (Internet of Things) refers to connected physical devices that are capable of collecting and exchanging data. These devices are connected through a network where they can not only store their data but also communicate with other devices. Mobile app development for IoT devices is becoming a big industry, allowing interaction with these physical items via mobile apps.
Presently, many IoT devices are controlled through centralized structures. However, this type of hierarchical structure can be stifling to the many ways IoT devices could be used, with multiple managers all at the same time. That isn’t the only challenge facing IoT; other challenges include security and privacy.
How big is the AI industry?
The artificial intelligence industry was valued at $20 billion in 2018. It is expected that the AI industry will experience massive growth, rising to $40 billion in 2020 and $200 billion by 2026. The AI industry includes machine learning and natural language processing, as well as other technologies.
Blockchain and AI
At its core, blockchain allows information to be stored and distributed without being copied. Data in a blockchain is stored in a chain-like configuration with all of the history stored in blocks. These data blocks can only be built upon, never changed. Because of the decentralized nature of blockchain, data can be accessed from anywhere. To put it simply, blockchain is the ultimate peer-to-peer network, making it useful across a spectrum of industries with advantages that include transparency, security, and decentralization.
Artificial intelligence, also called machine intelligence, generally refers to the simulation of human intelligence in machines. Using this technology, machines are programmed to mimic human intelligence and actions. The artificial intelligence industry includes machine learning and natural language processing, which encompasses things like chatbots and virtual assistants. Some of the features and advantages that AI brings are personalization, data-mining, and real-time assistance.
Putting It All Together: IoT, Blockchain and AI
IoT, blockchain, and AI have many advantages to businesses, even when separated, but when brought together, they can offer even more. Combine AI with IoT, and suddenly all the data that IoT is collecting could be analyzed more closely to discover previously unnoticed patterns. As more and more data is collected and analyzed, IoT devices could become more improved, reflecting real usage and trends.
Combine blockchain with IoT and those previously centralized systems could become decentralized, allowing not only accessibility but concurrency and scalability. Blockchain could also be used for IoT security, as the technology could be used to hide the location of IoT devices and how they are accessed.
When you marry all three technologies, you have the ability to combine the individual advantages of each technology. Working together, these technologies have the ability to greatly improve the way a mobile app performs, providing users with a better experience.
At Copper Mobile, we know how to leverage each of these technologies to make your company more efficient and profitable. We harness the power of mobile technologies to build apps that solve your business problems. Start by scheduling a discovery session with one of our engineers.
- IoT (Internet of Things) refers to connected physical devices, like appliances, smart homes, and wearables, that are capable of collecting and exchanging data.
- Artificial intelligence generally refers to the simulation of human intelligence in machines.
- Blockchain allows information to be stored and distributed without being copied.
- The union of IoT, blockchain, and AI has the potential to bring new opportunities to businesses.
- Copper Mobile knows how to leverage each of these technologies to make your company more efficient and profitable.