The Latest Ai In The Internet Of Things Industry Statistics Explained
By 2026 there will be an estimated 12 billion machine-to-machine (M2M) connections, many of which will be made possible due to AI and IoT.
This statistic suggests that by the year 2026, the number of machine-to-machine (M2M) connections is projected to reach approximately 12 billion, indicating a substantial growth in interconnected devices. The use of artificial intelligence (AI) and the Internet of Things (IoT) technologies are expected to play a significant role in enabling and facilitating these connections. AI algorithms and IoT devices have the ability to autonomously communicate with each other, collect and analyze data, and make decisions without human intervention. This exponential increase in M2M connections highlights the growing importance and integration of smart technologies in various industries, contributing to a more interconnected and efficient digital ecosystem.
It’s predicted that by 2030 AI, IoT, and blockchain technologies could add $15 trillion to the global economy.
The statistic suggests that by the year 2030, the integration and advancement of Artificial Intelligence (AI), Internet of Things (IoT), and blockchain technologies have the potential to contribute an estimated $15 trillion to the global economy. This prediction highlights the significant impact that these cutting-edge technologies can have on various industries and sectors worldwide, leading to increased productivity, efficiency, and innovation. The widespread adoption of AI, IoT, and blockchain is expected to stimulate economic growth, create new market opportunities, improve operational processes, and drive overall economic prosperity on a global scale over the next decade.
Over 90% of IoT data is never utilized; AI and machine learning can harness this data.
The statistic “Over 90% of IoT data is never utilized; AI and machine learning can harness this data” highlights the massive amount of data collected by Internet of Things (IoT) devices that remains untapped and unexploited. This inefficiency arises from challenges in processing, analyzing, and deriving insights from the sheer volume of data generated. However, the application of artificial intelligence (AI) and machine learning techniques offers a promising solution to this issue by enabling the automated analysis of large datasets to extract valuable insights and drive actionable outcomes. By leveraging AI algorithms, organizations can unlock the potential within their IoT data, leading to improved decision-making, operational efficiencies, and the ability to uncover valuable trends and patterns that would otherwise go unnoticed.
Spending on AI and IoT technologies is projected to reach $3.1 trillion by 2025 by businesses.
The statistic indicates that businesses are expected to significantly increase their investments in artificial intelligence (AI) and internet of things (IoT) technologies, with projected spending reaching $3.1 trillion by 2025. This substantial financial commitment underscores the growing importance of AI and IoT in modern business strategies, as organizations seek to leverage these technologies to drive innovation, improve operational efficiency, and enhance decision-making processes. The projected increase in spending also suggests a strong belief in the potential benefits that AI and IoT can offer in terms of competitive advantage, revenue growth, and cost savings for businesses across various industries.
Almost 80% of enterprise IoT projects will include AI as a major component by 2022, according to International Data Corporation (IDC).
The statistic indicates that a significant proportion of enterprise Internet of Things (IoT) projects are expected to integrate artificial intelligence (AI) as a key element by the year 2022, as projected by the International Data Corporation (IDC). This suggests a growing trend towards leveraging AI technologies to enhance and optimize IoT applications in various industries. By incorporating AI capabilities into IoT projects, organizations can potentially improve the efficiency, automation, predictive analytics, and decision-making processes within their operations, leading to greater innovation and competitive advantage. This forecast underscores the increasing importance of AI in shaping the future of IoT implementations across enterprise sectors in the near future.
By 2025, an estimated 95% of customer interactions will be driven by AI, IoT playing a key role in data collection.
The statistic suggests that by the year 2025, a significant majority of customer interactions, estimated at 95%, will be influenced or facilitated by artificial intelligence (AI). This means that AI technologies will likely be used to enhance customer experiences, provide personalized services, and streamline business operations in various industries. Furthermore, the Internet of Things (IoT) is expected to play a crucial role in collecting and analyzing large volumes of data generated from interconnected devices, enabling businesses to gain valuable insights and make data-driven decisions. Overall, this statistic highlights the growing importance of AI and IoT in shaping the future of customer interactions, emphasizing the need for businesses to adapt and invest in these technologies to stay competitive in the evolving digital landscape.
It is projected that by 2035, AI’s business value is estimated to reach $14 trillion, a significant portion of which would be contributed by AI-powered IoT.
The statistic suggests that by the year 2035, the business value generated by artificial intelligence (AI) is anticipated to reach an impressive $14 trillion. This substantial figure highlights the growing importance and impact of AI technology in various industries. Furthermore, a significant portion of this estimated value is expected to be contributed by the synergy between AI and the Internet of Things (IoT). As AI continues to advance and evolve, it is increasingly being integrated with IoT devices and systems, allowing for improved functionality and performance across a wide range of applications, ultimately leading to increased business value and economic growth.
With AI’s insightful analytics, businesses have seen operational costs reduce by up to 20%.
The statistic suggests that businesses utilizing artificial intelligence (AI) for analytics purposes have experienced a significant decrease in their operational costs, up to 20%. This could mean that AI tools and technologies are helping businesses identify inefficiencies, streamline processes, optimize resources, and make data-driven decisions that ultimately lead to cost savings. By leveraging AI’s capabilities to analyze large and complex data sets rapidly and accurately, businesses are better equipped to spot areas for improvement and implement strategies to enhance operational efficiency. The implication is that AI-powered analytics is proving to be a valuable asset for businesses looking to cut costs and improve their bottom line.
AI is expected to manage 95% of customer interactions across multiple channels by 2025 and IoT will be a key part of this shift.
The statistic implies that artificial intelligence (AI) is predicted to play a substantial role in handling customer interactions, spanning various communication channels, with an estimated reach of 95% by the year 2025. This projection suggests a significant shift towards automation and AI-driven processes in customer service and engagement. Additionally, the statement highlights the integration of Internet of Things (IoT) technology as a crucial component in facilitating this transformation. By leveraging AI and IoT capabilities, businesses are anticipated to enhance their customer service experiences, streamline operations, and optimize interactions across a multitude of platforms, ultimately improving efficiency and effectiveness in customer engagement strategies.
The AI in the Manufacturing market is expected to grow from $1.0 billion in 2020 to $16.7 billion by 2026, at a CAGR of 57.2% during the forecast period, powered by IoT.
The statistic highlights the projected growth of the Artificial Intelligence (AI) market within the manufacturing sector, from $1.0 billion in 2020 to an estimated $16.7 billion by 2026, representing a remarkable compound annual growth rate (CAGR) of 57.2% during the forecast period. This significant expansion is attributed to the integration of Internet of Things (IoT) technology, which is driving innovation and efficiency in manufacturing processes. The rapid adoption of AI solutions in manufacturing is expected to revolutionize operations, optimize production processes, and enhance decision-making capabilities, ultimately leading to substantial market growth over the coming years.
Over 50% of production industries are using IoT – 10% of these use AI in conjunction with IoT.
This statistic suggests that a significant portion of production industries have adopted Internet of Things (IoT) technology to enhance their operations, with over 50% of these industries leveraging IoT solutions. Additionally, a subset of these industries, accounting for 10%, has further integrated Artificial Intelligence (AI) technology in conjunction with IoT to improve efficiency and decision-making processes. This indicates a growing trend towards leveraging advanced technologies like IoT and AI to optimize production processes and drive innovation within the manufacturing sector.
IoT driven by AI will add 15% to the global GDP growth according to Accenture.
The statistic that ‘IoT driven by AI will add 15% to the global GDP growth according to Accenture’ implies that the integration of Internet of Things (IoT) technology with artificial intelligence (AI) is expected to have a significant positive impact on the global economy. This means that the combination of IoT and AI technologies will lead to increased efficiency, productivity, and innovation across various industries, ultimately contributing to a 15% boost in global Gross Domestic Product (GDP). The prediction from Accenture suggests that the convergence of IoT and AI will drive economic growth by enabling businesses to optimize operations, enhance customer experiences, and create new value propositions that spur overall economic development.
90% of all cars will be connected to the Internet by 2024, driven by AI and IoT technologies.
The statistic “90% of all cars will be connected to the Internet by 2024, driven by AI and IoT technologies” suggests a significant shift towards interconnected automotive systems in the near future. This rise in connectivity is likely to be propelled by advancements in artificial intelligence (AI) and Internet of Things (IoT) technologies, enabling vehicles to communicate with each other, with infrastructure, and with external services. This interconnectedness can enhance safety, efficiency, and convenience for drivers and passengers, as well as open up opportunities for new services and business models within the automotive industry. The statistic implies a transformation in the way we interact with and rely on vehicles, highlighting the increasing digitalization and integration of technology in the automotive sector.
By 2025, devices and objects with AI and IoT components will generate 79.4 zettabytes of data.
The statistic states that by the year 2025, devices and objects that are equipped with both artificial intelligence (AI) and Internet of Things (IoT) components will collectively produce a staggering 79.4 zettabytes of data. This implies that the integration of AI and IoT technologies into various devices and objects will lead to an exponential increase in the volume of data generated. The onset of this massive data generation signifies the growing interconnectedness of devices and the rapid advancement of AI algorithms, which are becoming more prevalent in everyday objects and systems. The vast amount of data being generated highlights the immense opportunities and challenges that come with leveraging such data for various applications such as improving efficiency, enhancing decision-making processes, and enabling innovative solutions across industries.
Conclusion
Attendees at the conference gained valuable insights from the latest statistics and trends in AI within the Internet of Things industry. As technology continues to advance, it is evident that AI will play a crucial role in shaping the future of IoT. By understanding and leveraging these statistics, industry professionals can stay ahead of the curve and make informed decisions to drive innovation and growth in this rapidly evolving field.
References
0. – https://www.www.iot-analytics.com
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2. – https://www.www.cisco.com
3. – https://www.www.pwc.com
4. – https://www.www.salesforce.com
5. – https://www.www.mckinsey.com
6. – https://www.www.forbes.com
7. – https://www.www.capgemini.com
8. – https://www.www.cmswire.com
9. – https://www.www.accenture.com
10. – https://www.www.financialexpress.com
11. – https://www.www.marketsandmarkets.com
