Businesses across the world are rapidly leveraging the Internet-of-Things (#IoT) to create new products and services that are opening up new business opportunities and creating new business models. The resulting transformation is ushering in a new era of how companies run their operations and engage with customers. However, tapping into the IoT is only part of the story .
For companies to realize the full potential of IoT enablement, they need to combine IoT with rapidly-advancing Artificial Intelligence (#AI) technologies, which enable ‘smart machines’ to simulate intelligent behavior and make well-informed decisions with little or no human intervention .
Artificial Intelligence (AI) and the Internet of Things (IoT) are terms that project futuristic, sci-fi, imagery; both have been identified as drivers of business disruption in 2017. But, what do these terms really mean and what is their relation? Let’s start by defining both terms first:
IoT is defined as a system of interrelated Physical Objects, Sensors, Actuators, Virtual Objects, People, Services, Platforms, and Networks  that have separate identifiers and an ability to transfer data independently. Practical examples of #IoT application today include precision agriculture, remote patient monitoring, and driverless cars. Simply put, IoT is the network of “things” that collects and exchanges …