In contemporary times, owners of small businesses are the forerunners among the SMBs when it comes down to adopting and benefitting from the latest technology. Whether its automation of customer support or CRM, search engine optimization, (SEO), or a dedicated emailing platform, SMBs have in their disposition the best of techniques that can be optimally utilized for business growth.
Technological evolution or development is an ongoing process, which has assumed exponential proportions superseding earlier developments. The emergence of technologies like artificial intelligence, IoT, and cryptocurrency has changed the face of organizational operations for good.
However, there may be a lot of gap between the ground reality and the fuss in the market. There could be downsides that exponents of these technologies are suppressing. Therefore, this article throws light on one of the most significant emerging technologies with AI and IoT. It considers the features these technologies bring in the industries and IoT application development services that are feasible for an SMB to utilize and what they de-escalate or let go for the time being.
What is AI?
Artificial Intelligence (AI) is generally termed as the ability to work, act, and perform just like a human being. Though in practical technologies are still far away from placing human-like intelligence in machines.
Still, some of the tasks such as repetitive functions within a software development cycle such as testing models, chatbots for customer experience, discovery weekly on Spotify, or give voice commands to Siri and Alexa, etc have been particularly successful with AI. Termed as Artificial Narrow Intelligence (ANI), these technologies focus on particularly specified tasks.
Thus machine learning models with no records are integrated within the organization to understand its working, production, and complete cycle.
These AI models then deduce useful insights, intelligence, and strategic decisions to businesses in moving forward in their field. Almost all industry is going to benefit from AI technology in the next few years.
Some of these AI technologies such as Amazon Alexa, Tesla autonomous car, or Facebook networks, etc are showing as a glimpse into the future. In a recently concluded research, Google AI beat humans in detecting breast cancer in women from records. Though the technology is still far away from replacing humans still this result gained global acclaim for its AI-based results.
With huge investment required to fund AI research and development, SMBs are not expected to have any presence in AI technology. Still, innovation has no set path and any individual with the right mind can contribute to its progress. Top global giants are always lookout for high performing SMBs and acquire them to further boost their research in the right direction.
What is IoT?
These days our smartphones let us switch on the light bulbs, and we have freezers that can send screenshots of what is in store inside. It is hard to deny that modern-day consumers are living in a golden period of convenience. Thanks to the high-tech, internet-enabled products designed by Android App Development Company. These devices are technically termed as IoT. They render the option of customizing their experiences to suit their special needs.
IoT devices create a win-win situation for product makers and product users alike. The spree of flowing information is a valuable resource to them. Let us take the example of a wearable fitness tracker. Users can keep a watch on the specifics like steps walked, sleeping patterns, track exercise, and even track weight and calorie count.
The leading manufacturer’s industries have access to various information. Based on it, they can make viable recommendations to the user or take the help of IoT application development services to market new accessories and features.
Services of IoT android app development can assist businesses in the collection, storage, and analysis of data collated from the interconnected devices. It paves the way for product improvement; bettering user experiences across all touchpoints intended for customers and at the same time engages prospective customers.
Exponents of IoT application development can be instrumental in the productive connectivity among different devices, which optimizes the user’s experiences at home. The possibilities are endless right from operating TVs and light through voice command, activating coffee machines, or the integration of security devices with their phone that will let you keep an eye on children or pets left unattended at home.
On a bigger note, IoT development companies can contribute to the development of smart cities through the deployment of a robust IoT enabled infrastructure. For example, automated control and monitoring of street lamps and traffic signals.
We often hear about interconnected smart cities. They are prioritizing the investment on IoT devices and leverage data outputs for optimizing resource allocation, improving cost-efficiency, and comprehending where and when people congregate.
How SMBs Should Use IoT and AI?
Voice-controlled speakers are the latest fad in IoT these days. Until now, there have been more than 30 million units of Alexa sold on Amazon.
It is expected that by 2022 more than 244 million voice-operated IoT devices will make their way for domestic use. Technology giants like Microsoft, Google, and Apple are coming up with their offerings in the IoT domain.
Amazon Alexa and Google Home allow IoT mobile app development companies to build apps that integrate with devices. OpenTable is a notable specimen facilitating reservation of favorite restaurants through Google Home.
Natural Language processing technology used in these devices to understand human voice and act thereafter, is one of the main benefits of Artificial Intelligence. Similarly, brands are using Machine learning, neural networks and other AI-backed technologies to expand their market reach.
For instance, Facebook users neural networks to detect objects, classify and tag friends in photos, Netflix uses a machine-learning algorithm to give their user recommendations, Tesla uses Machine learning and situation awareness to build autonomous cars that predict surroundings and prevent accidents.
People these days prefer to use voice search for relevant content. The popularity of voice-enabled televisions and other household appliances present a sea of opportunities for SMBs. SMBs must consider voice search as an emerging marketing channel and develop a proven voice search strategy.
SMBs, whose product line comprises tangible products can make the most of IoT. Manufacturers today need to explore the potential of optimizing product value by rendering it the capability of collecting data. In this backdrop, they will need to collaborate with IoT software Development Company.
SMBs can take advantage of IoT for optimizing business operations. Renowned vendors like ThingWorx, Carriots, and Losant provide managed IoT development services to entrepreneurs for establishing connectivity among various products, collation of data, and their meaningful analysis.
Both AI and IoT technologies are going to have a significant impact to make our life easy. SMBs will have to manage around with these latest technologies to stay afloat. SMBs teams will have to upskill themselves and offer more reasons for large businesses to connect with them.
The AI and IoT ecosystem have their own set of challenges. Much of these are related to security issues, privacy, and data ownership. The surging pace of their evolution has made stakeholders reconsider regulations governing privacy, security, and data ownership. The onus is on the SMBs to not only create but also leverage IoT products so that it can beneficially collect user’s data, and ensure its safe storage and use.
Cuelogic at its forefront is among the leading organization offering customized AI and IoT Development Services for businesses to scale as per the demanding nature of the market.