Telenor IoT has published its annual IoT Predictions Report for 2024 with a focus on AI.
The Telenor report explores how the strategic integration of Artificial Intelligence and the Internet of Things in AIoT is reshaping industries.
The new report, co-produced with Omdia, looks at “Navigating the Perfect Storm: AIoT to Emerge as the Defining Enabler of Digital Transformation.”
As IoT applications generate a tremendous quantity of data, many enterprises struggle to effectively analyze and extract meaningful insights from it. Simply collecting data does not bring value, and human intelligence can’t process the information as efficiently as AI. With the support of AI, applications become smarter and more autonomous.
This convergence unlocks higher operational efficiencies, better customer experience, and higher productivity gains across diverse sectors, from automotive and industrial manufacturing to transport, utilities, and smart cities. This combination can turn simple solutions into those with greater impact and value. Predictive maintenance, robotics improvement, and enhanced in-car experiences are examples of great use cases for AIoT.
Over 48% of enterprises prioritize AI/ML in IoT deployments as advances in semiconductor technology, including AI Edge processors, are driving greater computing power for AI integration.
Efforts to minimize AI model size, known as TinyML, is enabling increased use of AI in IoT applications while 38% of respondents in Omdia’s 2024 IT Enterprise Insights reported that they had either already fully adopted generative AI or were implementing it. Only 10% said they had no interest in generative AI.
Omdia believes several factors are set to align in 2024, signaling a pivotal year for AIoT adoption. Rapid developments of Generative AI technologies and associated sense of urgency in the boardrooms of many enterprises show prioritization of AI/ML in IoT deployments, foreshadowing widespread AIoT adoption.
In addition to that, hardware advancements with more powerful, tiny and energy efficient devices, breakthroughs in AI models, and impending AI regulations setting requirements for more responsible and sustainable use of digital technologies contribute to the momentum. When combined, these conditions underscore the urgency and the window of opportunity for enterprises to integrate AI technologies into their IoT applications to stay ahead.
Over a fifth of all vehicles in circulation are already connected, and this is anticipated to reach 100% by 2030 –with each individual vehicle generating huge amounts of data from a vast array of sensors in multiple applications and functions. The next logical step is to embed AI/ML within these vehicles to help use this data to deliver safer driving experience, improved vehicle performance, and enriched customer experiences.
“We predict AIoT will grow to become the cornerstone of digital transformation,” says Mats Lundquist, CEO at Telenor Connexion and Head of Telenor IoT. “The convergence of AI and IoT isn’t just an evolution; it’s a revolution in how businesses operate and compete globally. This report emphasizes the urgency to act now.”
Source: https://www.eenewseurope.com/en/telenor-sees-aiot-as-key-driver-in-2024/