How IoT and AI is revolutionizing business

It isn’t surprising that the Internet-of-Things (IoT) and Artificial Intelligence (AI) have become the focus of businesses around the globe. The fact that this emerging technology will be the single greatest driver of business success in the decades to come is more than proven at this point—it’s a reality. Just take a look at the numbers that support an organization’s decision to embrace and implement digital transformation initiatives, they are staggering. 

For instance, let’s first consider the single greatest historical driver of technological change: the smartphone. In just one decade, this ubiquitous mobile device and what it represents has changed how the majority of people around the world view technology and its impact on their daily life. After all, with the advent of the smartphone came the mobile app with a multitude of highly personalized features and functionality. 

To put the smartphone’s impact on the global economy in context, it’s projected that by the end of 2019 the total number of mobile phone users in the world will surpass the five billion mark. Additionally, in 2018 alone, consumers downloaded 205 billion mobile apps to their connected devices—a number that is expected to surpass 258 billion downloads by 2022. And all of these smart phones and mobile devices have the ability to seamlessly interact with AI and IoT applications.