AIoT: Where Artificial Intelligence meets the Internet of Things
OnePiece Work recently brought together industry experts, corporate executives, founders, and investors to participate in a virtual in-depth discussion of the intersection of Artificial Intelligence and the Internet of Things: AIoT, the Artificial Intelligence of Things.
Dr. Dang points out the fact that AI is everywhere, with new use cases emerging across many sectors, including healthcare, retail, energy, consumer, transport, finance, proteomics, and agriculture.
For example, machine/vehicular object detection, identification, and avoidance - the most popular example of artificial intelligence being used today - is being deployed in Amazon factories, where robots sort through packages, and in the production of autonomous vehicles, making self-driving cars no longer a thing of fiction. By 2030, self-driving cars are predicted to free up 2 trillion minutes.
In the medical sector, physicians are even more swamped and overburdened as a result of the coronavirus. AIoT has the potential to alleviate some of that burden. Dr. Dang believes AI embedded in medical devices in use at hospitals and at home would help both physicians and patients. Another sector taking advantage of AI is the environmental industry, with companies utilizing the technology to drive air-quality monitors and sensors. In today’s landscape, the use of AI is ever-prevalent.
Data Is the New Oil
Data plays a large role in the world of AI and IoT. There is already great access to AI technology and algorithms, but do you have access to data? Most anyone can use open algorithms to develop an app, but data is needed to train your algorithms and sustain your company’s differentiation. Data is now “the new oil.”
Data is reshaping the world map from an AI standpoint as well. And nations are racing for AI supremacy. The country that will win the race must have the best AI algorithms and enough data to drive those algorithms. Dr. Dang identified the U.S., China, and Europe as the top three centers of AI excellence emerging in the world. The U.S. has access to data from not only U.S. users but also from South America, India, Africa, Europe, etc., while China has full control over its own data. In Europe, they’ve developed the General Data Protection Regulation (GDPR) policy, which protects data and privacy.
Raising VC Money for AIoT
Following Dr. Dang’s presentation, IoT leaders Michael Stauffer and Lucas Wang joined the Panel Discussion on Global Opportunities and Challenges of IoT. Both experts believe entrepreneurs looking to raise capital for AIoT projects should be focused on healthcare. In an effort to combat the current pandemic crisis, China and the FDA have opened up policy and data regulations. This has provided a great opportunity to develop and test technology.
According to Stauffer, there are many needs in the healthcare sector that could be met with the use of AIoT. One such area is tracking the pharmaceutical supply chain. Environmentally friendly conditions, where temperature control is regulated, is essential in the transportation of vaccines and medical supplies. He also sees wearables that help with chronic disease as another area worth exploring.
Garrett Kinsman, Co-founder of Nodle, rounded out the discussion by addressing the concept of the “spacial web,” the idea that the internet is expanding into the physical world. His company, Nodle, is harnessing AI and IoT to develop the ability to search beyond the internet into the physical world.
“If you really want to explore the world around you, that little search box is limited.”
- Garrett Kinsman, Co-founder, Nodle
Nodle is leveraging new technologies like wireless, 5G, and satellite; decentralized technologies like mesh networking and blockchain; mixed reality such as AR/VR; and sensor capabilities to achieve the company’s aims. Kinsman sees this technology being utilized in many consumer electronics. An app can be downloaded to your phone; tracking tags can locate lost headphones or AirPods. The potential benefit to consumers is great.
At the intersection of AI and IoT, future capabilities are vast and the sky is no longer the limit.
OnePiece Connect, a business line of OnePiece Work, provides global expansion services for companies with the goal of unlocking international markets. We offer strategic consultation services for global business expansion, along with access to our extensive overseas platform and international network.
OnePiece Connect hosts a series of events throughout the year designed to foster discussion on cross-border trends. Each event brings together entrepreneurs, investors, and product leaders from various industries to share and discuss their insights. The event program is made to encourage collaboration between talented professionals from around the world, spurring growth and an understanding of the opportunities created by the cross-border industry.
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