November 7, 2022
AIoT Platform – Accelerate Digital Transformation
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What is an AIoT Platform?
TriStar PLM Solutions knows AIoT. An AIoT platform combines Artificial Intelligence (AI) technologies and the Internet of Things (IoT) infrastructure. This platform aims to create more efficient IoT operations, improve human-machine interactions, and enhance data management and analytics.
The Internet of Things is a network of interconnected devices that can communicate with each other. These devices include anything from smartphones and smart home appliances to industrial equipment. The IoT aims to allow these devices to share data and interact with each other autonomously.
The combination of artificial intelligence and the Internet of Things has the potential to create several benefits for businesses and consumers alike. For businesses utilizing an AIot platform, this can help improve efficiency and productivity and reduce costs.
For consumers, AIoT can provide enhanced convenience and a better user experience. Additionally, using AI in conjunction with the IoT can help improve data management and analytics, providing businesses with a better understanding of how their products are being used and what improvements can be made.
Why You Need This Platform
IoT devices are only as good as the data they provide. The data needs to be collected, stored, processed, and analyzed to be useful for decision-making.
This creates a challenge for organizations. As IoT adoption increases, businesses struggle to process the data efficiently and use it for real-world decision-making and insights.
Problems can occur. The cloud can’t scale proportionately to handle all the data that comes from IoT devices, and transporting data from the IoT devices to the cloud is bandwidth-limited. Therefore, an AIoT platform can use Artificial Intelligence (AI) to be a necessity for the Internet of Things (IoT) to utilize the cloud to scale data proportionately.
Almost 1/3 of IoT projects fail at the proof-of-concept stage1
- Expensive to develop and maintain
- Take too long to implement
- Challenging to scale across sites
IoT needs AI to make sense of all the data it collects. The platform can help reduce the amount of data that needs to be transported to the cloud and make rapid real-time decisions. With this Platform, AI and IoT can become more effective and efficient systems.
Finally, utilizing an AIoT can help solve this problem with cloud data. With its ability to quickly process large amounts of data, an AIoT platform can help businesses better use the data they collect from IoT devices. This will allow businesses to get more value from their IoT investments and make better decisions based on real-time insights.
The Platform Benefits
An AIoT platform is important for developing better IoT networks. The benefits of such platforms include:
Reduced Latency in Data Processing: An AIoT platform allows devices to communicate and process data faster, reducing delays when transferring data between devices.
Improved Decision-Making: Devices can learn from past decisions and make better decisions in the future with the help of an AIoT platform. This enables them to handle more complex tasks and large amounts of data more efficiently.
Increased Efficiency: An AIoT platform allows devices to communicate and process data more quickly, which increases the network’s overall efficiency.
Enhanced Security: AIoT can help improve IoT network security by identifying and preventing attacks from malicious actors.
Improved Safety: With increased communication and coordination among devices, there is a decreased chance of accidents or errors. This improved safety can be critical in industries such as healthcare and manufacturing.
Faster Innovation: AIoT allows for the rapid development and deployment of new applications and services, keeping businesses at the forefront of innovation.
Improved Accuracy: Combining AI and IoT allows more accurate data collection and analysis. This leads to improved decision-making and a better understanding of customer needs and wants.
Enhanced Customer Experience: Using AIoT, businesses can provide a better customer experience through faster response times, more accurate information, and greater personalization.
Greater Insight: An AIoT platform can provide valuable insights to help businesses make informed decisions about their products, services, and operations.
Reduced Costs: Devices that can make decisions independently can optimize performance and reduce the need for human intervention. This can result in significant cost savings and improved efficiency and accuracy.
The AIoT and machine learning processes embedded in PTC’s ThingWorx platform empower customers to make critical service decisions based on a smart, sophisticated predictive model. These models help identify parameters that could cause incidents and predict what part will fail, why, and when it will fail—so you can prevent downtime and optimize service calls to address multiple problems.
BENEFITS
Within two months of deploying the solution, CIMC has been able to:
- Slash unplanned downtime by 30 percent
- Reduce Work in Flow (WIP) costs by 16 percent
- Lower energy consumption by 13 percent
- Reduce manufacturing cycle times by up to 20 percent
AIoT Planning – Key Takeaways
For businesses, integrating AI and IoT teams is critical for taking advantage of an AIoT platform. The AI platform developers need to work with the IoT teams to ensure that the AIoT platform maximizes the potential of the hardware it’s operating on. The hardware team must build an infrastructure adequate for AI tools’ existing and future needs.
Businesses need to shift their technical focus from monitoring to predictions. IoT technology is used mostly to track and trace equipment performance and conditions. However, to take advantage of an AIoT Platform, businesses need to shift their focus to forecasting changes in equipment behavior and predicting maintenance needs.
The AIoT Platform Shift for Businesses – Conclusion
This shift will require businesses to concentrate on data analysis and interpretation to derive insights that will improve their operations. In creating this AIoT Platform framework, businesses can use AIoT to stay ahead of business requirements.
Implementing an AIoT platform has advantages, essentially creating a smarter system that does not need intervention. Another advantage of AIoT is the 5G network, which will allow faster transfers of large data files to IoT devices through higher bandwidth and low latency. AIoT can also be an advantage when solving existing operational problems with the expense associated with supply chains and delivery models.
The importance of AIoT now is a must!
TriStar PLM Solutions welcomes questions. Feel free to CONTACT US if you can’t find what you’re looking for, or call us at 800-800-1714
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