Businesses 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. The resulting transformation is ushering in a new era of how companies run their operations and engage with customers.
However, tapping into the IoT is only part of the story. For companies to realise the full potential of IoT enablement, they need to combine IoT with rapidly-advancing Artificial Intelligence (AI) technologies, which enable ‘smart machines’ to simulate intelligent behaviour and make well-informed decisions with little or no human intervention.
Over the coming years, ongoing advances in AI will have profound impacts on jobs, skills and HR strategies in virtually every industry— underlining the fact that companies don’t have the luxury of time as they map out their plans for an AI-enabled world. Already, integrating AI into IoT networks is becoming a prerequisite for success in today’s IoT-based digital ecosystems. So businesses must move rapidly to identify how they’ll drive value from combining AI and IoT—or face playing catch-up in years to come.