While Artificial Intelligence transforms everything from transportation to cloud computing, more organizations are coming forward to use the technology’s potential to grow faster, having realized that it’s a safe bet that will positively influence almost every aspect of their business. But despite AI’s popularity and large scale adoption, there are many businesses that still don’t know many interesting things about the technology.

In this blog, we will take a look at a few facts about AI that might surprise you.

AI covers many different types of computer learning

The term AI is generally used to refer to computer systems with learning capabilities. But AI is so much more. It encompasses several designations like machine learning, deep learning etc. AI isn’t new. As a matter of fact, it has been around for a long while. It started gaining momentum only a few years back when people started seeing intelligent machines and devices becoming available. However, this eventually resulted in a wrong notion that AI is ‘programmed logic’. It isn’t. True AI is where the machine learns itself after parsing the data fed to it.

AI drives the $127 billion autonomous vehicle market

Self-driving cars are not a concept from a sci-fi flick anymore. They are real and they are expected to be worth an estimated $127 billion worldwide by 2027. Without AI, these cars wouldn’t have become a reality. The Drive PX Pegasus – an AI and GPU-powered computer manufactured by NVIDIA specifically for driverless cars had a lot of takers when it was announced last year. The project is considered a success, and the warm welcome it received emphasizes that companies are placing their bets on AI.

AI & the Internet of Things

The Internet of Things (IoT) is already a buzzing trend with more people coming forward to invest in a ‘connected home’. In such an environment, various devices would be connected to each other in a private network to serve the home owners more conveniently. The trend was sparked by personal virtual assistants powered by AI namely the Amazon Echo Line and Google Home. AI evidently contributes to the growth of the smart speaker market.

Not all tech leaders approve of AI

Elon Musk, the CEO of Tesla, Inc., has stated on multiple occasions that AI could be dangerous to people and humanity as a whole. He has also made it clear that there should be some regulations around the technology, and has also specifically recommended a ban on AI-powered autonomous weapons – which is also probably halfway to being a reality as some governments are reportedly working on weaponizing AI already.

The value of AI market keeps rising

A few years back, a PwC report estimated that Artificial Intelligence will contribute over $15 trillion to the global economy by 2030. Judging from the various AI-related advancements that are coming out, the value seems to be going up further. It’s a safe bet to assume that the AI market would, by 2030, would exceed $15 trillion.

End note

Because of the vast potential of AI and its many use cases, it will be quite challenging for investors to determine which aspect of AI can grant them maximum profit when leveraged. Still it seems only big companies are reaping the biggest profits from AI. We have seen a number of small businesses adopt AI this year. Hopefully this trend will keep up enough so AI becomes a standard regardless of a company’s size and scale.

At AOT, our expertise in AI when it comes to application development and machine learning is something that we are proud of. Give us a ring to see what else we can do with AI.

Banner image created by freepik – www.freepik.com


A while back, the Internet of Things created a lot of buzz with many technology experts deeming it as a revolutionary technology with massive potential to digitally transform enterprises. The hype encouraged many companies to jump on the IoT bandwagon and invest in the technology for a promising future. However, not all of those companies gained revenue from their IoT projects.

As a matter of fact, a recent Capgemini report revealed that less than 30% of organizations generate service revenue from their IoT projects.

If the organization is simply taking a leap of faith with IoT, chances are that their IoT efforts could end up being a cost center instead of a revenue generator. They will need a great IoT monetization strategy to make sure they are not losing more than they are making with the technology.

Here are a few tips to monetize IoT projects effectively.

IoT devices + value-added software

Instead of creating programmed IoT devices, many companies have started creating reprogrammable devices. The software for these devices can be updated over the air, which means the devices can be potentially programmed to do more things than what they were initially intended to do.

This strategy also makes it easier for the company to generate revenue. The devices can be built so that value-added software can be enabled in the field. The software can be sold or linked to the hardware for a price.

Leverage SaaS

Companies investing in IoT will have to connect their devices to some network using some kind of technology. Choosing what technology to go for in order to connect the devices won’t be easy. Many companies evaluate a number of platforms that can get this job done for various kinds of services including Microsoft Azure for Cloud, Jasper for connectivity etc. Many others take a safer approach of inventing their own combination – whatever works best for them.

But this isn’t always a great idea. Sure it’s a safer approach but this path requires even more investment from the firm. There’s no monetization opportunity here. We simply included this to warn companies not to resort to building tech that already exists in various popular platforms. Instead they should leverage Software-as-a-Service (SaaS) to quickly and consistently deploy and iterate without investing a lot.

Give room for third-party developers

Some companies go a mile further by giving third-party developers access to their ecosystem. Oftentimes this ends up as a great investment. Third-party developers can bring innovation into the mix – things the company’s in-house team may not have thought of, and add value around the company’s core products and services. The key is to make it easy and appealing for developers to innovate on your company’s IoT platform. Innovative platforms tend to competent and easier to monetize.

Join or create a marketplace

All that effort and innovation would be pointless if customers can’t find your company’s IoT products/services. The IoT products a business wants to sell – be it apps or connectivity platforms should be displayed at a marketplace where customers can find them. If they can’t find such marketplaces to join, they can create an automated, integrated and scalable marketplace themselves. This naturally leads to more revenue.

Optimize the monetization of assets

Companies investing in IoT projects normally don’t contemplate monetizing their investments on day one. But the growing IoT market eventually makes them think they should have thought about it in the beginning.

Software is one of the major factors that determine an IoT project’s success. So companies normally opt for a basic business model where they sell the software or give it away as a freemium product. In such cases, billing can be quite costly. Fulfilment and licensing won’t be automated as well. The company won’t be focusing on showcasing or promoting the software.

A better approach would be to move the services and software on to the cloud so customers can purchase and use them on-demand. As the value of the data generated by this software increases, the software itself will start to make more revenue. The company should make sure the billing models deployed are new and that the billing system is future-proofed.

Conclusion

If the company realizes the true value of their IoT project, they should be able to successfully and consistently create that value from the technology. But monetizing that value requires diligence and leadership in order to align the company’s goals with the service or product and their sales strategy. So either they are going to need highly qualified IoT veterans in-house at the top to successfully monetize projects or they need to team up with IoT experts.

If you’d like to explore the opportunities and benefits of an IoT partnership or develop an IoT mobile app, contact the experts at AOT today.

Image Designed by Freepik


Though many parts of the world haven’t started seeing IoT around them much, the technology seems to have started going mainstream albeit slowly. It has already made its presence known across a number of industries including healthcare, business, media/entertainment, retail etc.

Last year, McKinsey estimated that by 2020, there would be about 20-30 billion connected devices in the world, with a total worth of around $17 billion.

The statistics are a testament to the increasing adoption of IoT in various industries. In this blog, we will be taking a look at the growth of the Retail industry under the influence of IoT. Retail businesses have to constantly come up with some strategy not only to stay ahead of the competition but also to provide unique shopping experiences to customers.

Where exactly does IoT fit here?

IoT – A Brief Overview

The Internet of Things is basically Machine-to-Machine synchronized connectivity by using uniquely configured hardware devices and sensors. The technology is made available in various devices of different shapes and sizes serving different purposes. These IoT devices are integrated into home appliances like ovens, refrigerators, air conditioners etc.

When it comes to the retail industry, one of the greatest benefits of IoT is that they enable businesses to track customer behavior efficiently. The data collected by IoT devices of a retail business can be analyzed to uncover insights that’d subsequently improve decision-making.

More than 75% of retail early adopters of IoT see the technology as an effective way to change customer experience.

Here is how IoT influences retail.

Digital signs to reach consumers

Online shopping is the norm now. Many retail businesses have realized that people tend to look for information via their mobile devices. MCommerce is how a business can provide that info and subsequently boost sales. There is also a notion that goods are offered online at smaller price tags than in brick-and-mortar stores. This is true to an extent. A digital store makes it easier for a customer to compare products and make a purchase.

So essentially businesses have to provide consumers with the right kind of information at the right time to guide them through the sales funnel. In the real world, they can use signs and billboards for this. Now with IoT, they can do the same with digital signs.

These IoT-powered digital signs can connect with social networks and customer feedback to present customers in the physical store with attractive offers for goods they’ve previously shown interest in or goods that complement their most recent purchases. Essentially, the IoT devices in a store can display notifications on a consumer’s mobile device when they walk by the store enticing them to take a look at the offers. Opportunities are many.

Making it easier to locate goods

For modern day retailers, the best way to get a consumer to visit again is to give them attractive deals coupled with a comfortable and convenient shopping experience. In a physical store, retailers will have staff employed to assist customers in locating the goods they want to look at and guide them to make a purchase.

This would be a bit harder for a consumer if the store is a huge, multistoried supermarket that has a variety of goods on different floors. This would demand customers to spend more time looking for goods. IoT addresses this inconvenience by assisting sales person and customers to locate an item via sensors placed inside the store at various points. These sensors can also be used to show customers the product description, product benefits, product expiry date etc.

IoT combined with smart transportation apps

Figuring out an efficient approach to moving merchandise from one place to another has always been a challenge for retail organizations. Smart digital applications proved to be a great solution for this problem. When IoT came into the picture, there were even more positive changes. IoT now makes a difference in the maintenance of transport, item tracking, and transport route optimization.

Until now, GPS was the lifesaver for retail transporters. IoT devices combined with GPS and smart apps offer a greater degree of accuracy on the transit and arrival of the merchandise to its destination.

Conclusion

It’s not just the retail enterprise that’d be reaping the benefits. IoT also presents many opportunities for consumers as well. The support they will receive will make shopping easier and more convenient than ever, while the retailers build their brand’s reputation for quality service and grows revenue. The important thing is to leverage the technology the right way.

AoT can help with that. We have qualified experts who know their way around IoT and how it can be wielded via mobile apps. Let us know your queries.

Image Designed by Freepik


From where technology stands today, it’s not impractical anymore to connect things that can be connected. As a matter of fact, that’s what the Internet of Things (IoT) is all about. It’s connecting millions of things together across the globe – people with people, people with things, and things with things. The technology’s vast potential could make smart cars, smart homes, and even smart cities a reality today.

About IoT

It’s a futuristic technology capable of connecting devices of various shapes and sizes and serving different purposes, through the internet. The concept of IoT, however, isn’t new; traces of the concept leads back to the late 1990s.

The potential of the technology is such that Gartner estimates that there would be over 25 billion connected things on Earth by 2020.

This obviously is reason enough for many modern businesses to leverage the technology and develop IoT solutions and services that facilitate the idea of how digitally connected devices can bring about revolutionary changes to consumer lifestyle. Easier said than done however as the technology is still considered to be in its infancy. The companies tapping into the technology have many hurdles in front of them and many complex challenges to overcome.

Channeled on Mobile Apps

Among those that are trying to creatively leverage the technology, the effort from mobile app developers stand out. Many developers embraced the ubiquity of IoT and managed to combine it with app development tailoring a unique experience that caters to a more tech-savvy new generation consumers. Now IoT apps make it possible to control and manage IoT devices back home or at the office. And this is just one change IoT brought on mobile app development.

Let’s explore the impact of IoT on mobile app development today.

IoT mobile apps

One major common factor of both IoT and mobile apps is that both technologies transform the way businesses interact with their customers. The technologies can be improved by analyzing the data they generate, facilitating a more enhanced and personalized user experience. IoT in mobile apps present more creative and lucrative opportunities for businesses to personalize user experience even further regardless of the business domain. As the technology is still being nurtured, this is the right time for businesses to jump on the IoT bandwagon and attempt to channel the technology for a competitive edge in their respective markets.

Impact of IoT on Mobile App Development

Empowering business ideas

IoT essentially presents more opportunities to visualize a business idea in the form of apps. A great example is Uber which connects people on the move with cabs around them. Mobile users will be connected to relevant services they require in their day-to-day life in real-time thanks to the technology. More creative ideas and IoT powered apps can be expected in the coming years, making things much easier for people by giving them total control via just their smartphones.

Revamped development process

IoT’s influence on mobile app development has even changed the way how IoT apps are developed. The new, so-called 5 tier development process involves cohesive development that focuses on device, gateway, data, analytics, and mobile application. There certainly will be challenges and complexities. But ultimately, the components will all be in sync and the app can be connected to other apps through the internet.

Real-time analytics

Data and data analysis are key to using IoT to tailor user experience. Uber once again sets an example here with its real-time user data analysis to offer personalized services. IoT apps are required to perform real-time data analytics from the data collected over time and offer instantaneous services that the user would want at a particular point of time. With edge computing and big data, IoT analytics is undergoing rapid evolutions.

Increased security

Mobile apps security have always been questioned by users. With IoT involved now, the security is scrutinized  even more with questions on how many devices that differ in nature and purpose can be connected and then managed through a mobile app. The nature of the device’s involved demands different security measures.

This uncertainty has led to major breakthroughs in IoT security lately, with mobile app developers figuring out a number of measures to ensure security of connected devices. The 5 tier development process places an emphasis on the security aspect as well, to safely secure the data collected from any potential threat. Modern day cloud services play a key role in this.

Conclusion

Connected devices are already being seen as the future of mobile app development at this point. For businesses, nailing a perfect, secure IoT mobile app first gives great momentum to both transform themselves and to accelerate toward the digital economy of the coming times.

AoT’s expertise in IoT app development could help your business out in this venture. Drop us a message to see how the AoT team can channel the power of IoT for your business.

Images Designed by Freepik


Just a few years ago, wearable-tech was the product of creativity of sci-fi writers. Now, wearable device market generates over $30 billion in revenue a year, and it’s all thanks to the advent of the Internet of Things (IoT). Creating a wearable tech is challenging, but developing one that works require more effort especially when IoT is still in its infancy.

Developing good wearable-tech

Wearable-tech involves multipurpose devices that are worn constantly day and night. Unlike mobile apps that need to be found from the store, installed, and configured, wearable tech are worn and used on-the-go serving specific purposes.

Fitness trackers like Fitbit is one of the earliest pioneers of wearable tech aiding users to remain fit. Now with IoT in the picture, and its potential for borderline limitless innovative possibilities, enterprises are exploring ways to leverage wearable tech into an all-purpose technology that will get them closer to the consumers digitally while aligning with their business goals.

So what exactly is a successful wearable tech?

An IoT-driven wearable device shouldn’t have a fragile codebase as even the slightest hiccup can end up as a major issue to users. That’s why IoT development should focus on user stories so as to come up with the best solution. The devices should be equipped to handle information flow without compromising functionality.

Conclusively, for an IoT-driven wearable device to be successful, it should come with the following features.

Intuitive notifications

Because the devices are mostly always ‘on’ or close to the users, it warrants a different approach to developing the software. The product should feature intuitive notifications. Depending on the situation, the users should receive appropriate notifications. This is now possible thanks to modern-day UX design techniques.

Biometrics

Biometrics has started to become a key feature for wearable tech. Biometrics technology itself has evolved from its earlier standards, with researchers even exploring the possibilities to charge wearable devices by simply walking or jogging. Because the area is potentially going to lead to major breakthroughs in the near future, it’d be wise to integrate the technology into wearable devices.

Low energy consumption

Since people will be wearing the device, they expect the device to have a long battery life. For the wearable tech to become successful, users should be able to charge them conveniently and not too frequently. While the concept of rechargeable wearable tech is being researched, what developers should focus on is low energy consuming IoT devices. It is one major feature that influences the possibility of the product’s success today.

Fashionable elements

This could probably be the most challenging for developers. Unlike mobile apps that need a good UI, wearable devices are expected to come with good looks and not just functionality. Fashion should not be overlooked when developing such devices, which makes it quite a big hurdle for developers to jump over as they aren’t exactly qualified because of a good fashion sense. The end goal is to develop an item that people would want to wear, regardless of the features it packs.

And that pretty much covers every cool feature that an IoT-driven wearable tech should possess to climb up the ladder of success. It’s a multi-billion dollar industry now, which obviously spells ‘tight competition’. It’d be best to have the item developed by experts who know their way around IoT, which brings you to us.

AoT technologies are fully equipped to design and develop innovative digital solutions that leverage cutting-edge technologies including AI, ML, and IoT. Drop us a message to see what we can do for your business.

Image Designed by Freepik