AIoT: There’s more to AI than just GenAI

Too many people are overlooking the value of (non-generative) AI for Internet of Things (IoT). Integrating AI and IoT—known as AIoT—leads to intelligent systems that enhance efficiency and innovation across sectors. AI encompasses a much broader spectrum of technologies for smart, interconnected systems than just Generative AI (GenAI). Unfortunately, today’s press only spotlights GenAI. While undeniably powerful and transformative, focusing only on GenAI leads to missed opportunities.

Dr. Scott Gerard, a certified Distinguished Data Scientist with decades of deep technical experience in the IT industry, brings valuable AI and ML expertise to IoT solutions. AIoT is already transforming industries such as energy, precision agriculture, manufacturing, home healthcare, and supply chain management. Specific use case applications of AIoT include anomaly detection, predictive maintenance, time series forecasts, process control, activity or gesture recognition, safety monitoring, sensor fusion, and many more, showcasing the diverse potential of AI integrated with IoT.

Statistics underscore the growing importance of AIoT.

• In 2020, IoT devices surpassed non-IoT devices (IoT Analytics).
• The average household currently contains 20-25 IoT devices (Deloitte),
• There are a total of 15 billion devices worldwide in 2023 (Finances Online), which is twice the global population.
• Rapid growth has led to worldwide IoT spending exceeding $1 trillion in 2023 (FinleyUSA).
• IoT is expected to continue with a 13% compound annual growth rate (CAGR) in 2024 (Global Data).
• 10% of venture capital funding is directed towards IoT-related innovations (Global Data).
• Estimates project there will be 25 billion IoT devices by 2030 (Finances Online).

GenAI is indeed a groundbreaking set of technologies that enable applications in IoT, such as facilitating creative idea exploration, providing conversational user interfaces, and synthetic data generation. However, it falls short in several critical areas, including anomaly detection and predictive maintenance, forecasting and prediction, decision intelligence, segmentation and classification, recommendation systems, tabular and sensor data streams, planning, high-risk scenarios without effective mitigations, or in constrained resource environments.

“If you focus only on the GenAI tree, you'll miss the wonders of the rest of the AI forest.”   

While GenAI is a vital component of the AI landscape, an excessive focus on it leads to missed opportunities in AIoT. A broader perspective that includes the diverse capabilities of AIoT, can unlock new levels of innovation and efficiency across various industries. Embracing the full spectrum of AI technologies for IoT can better drive innovation and efficiency across a wide range of industries, ensuring a future where technology serves us in more intelligent and interconnected ways.

Dr. Gerard is the Founder and Chief AI Officer at Knowledge Reactor, a consultancy focused on AI, ML and IoT. Knowledge Reactor assists its clients by helping executives Ask the Right AI Questions and Get the Right AI Answers, with AI Strategy Workshops, as a Fractional Chief AI Officer, and with ML implementations.

Scott Gerard, PhD
Founder and Chief AI Officer
Knowledge Reactor, LLC
Mobile: 919-622-5049
Email: Gerard@KnowledgeReactor.ai
LinkedIn: https://www.linkedin.com/in/ScottNGerard/
Web: http://KnowledgeReactor.ai