AI and IoT (AIOT)

AI and IoT (AIOT) convergence for industries

Industries across the world are rapidly leveraging the Internet-of-Things to create new networks of products and services, that are opening up new business opportunities and creating new business models.

This transformation is ushering in a new way of how companies run their operations and engage with customers. However, tapping into the IOT is only part of the effort. For companies to realize the full potential of IOT enablement, they need to combine IOT with rapidly-advancing Artificial Intelligence (AI) technologies, which enable ‘Smart Machines/Devices’ to simulate intelligent behavior and make well informed decisions with little or no human intervention.

The convergence of AI and IOT brings us AIOT - Artificial Intelligence of Things - that delivers intelligent and connected systems that are capable of self-correcting and self-healing themselves. It is set to lead the Fourth Industrial Revolution (4IR).

AIOT is transformational and mutually beneficial for both types of technology as AI adds value to IOT through machine learning capabilities and IOT adds value to AI through connectivity, signaling and data exchange. As IOT networks spread throughout major industries, there will be an increasingly large amount of human-oriented and machine-generated unstructured data. AIOT can provide support for data analytics solutions that can create value out of this IOT-generated data.

Our New Customer Lifecycle Journey in the Digital Age

Customer segmentation and personas drive successful product, marketing, and sales programs. The same analysis can be applied to your company's specifications. Start with the simple steps as below:

1. Who - Defines the target consumer segments and buyer/user personas of the sale.

2. What - the solution or business model with value proposition required

3. Where - executing in the new or existing channels

4. How - Action for deployment, training, support, new hirings and billing for the same

5. Why - Is the measuring successful for you, your prospects and your customers

Based on these findings, you'll soon see that buyer personas (researching, reviewing, and purchasing) and consumer personas (deploying, utilising, and supporting). You might realise that they are NOT the same consumers who used to interact with the legacy brands. Similarly, your existing sales, support, and operations teams are also likely not the best suited to deliver your new digital initiatives.

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