Updated: Feb 27
IoT is driving business changes by providing the data needed to improve marketing, increase sales, and decrease costs. We may still be early in the phase of adoption of IoT, but there are many signs that the market is maturing. IoT technology continues to emerge, popping up in everything from automotive interfaces to its use in the supply chain.
Artificial Intelligence (AI)
AI is significantly impacting the way customers interact with businesses via intelligent websites and bots, and these tools are becoming increasingly commoditized and integrated into daily work. Alibaba Group has introduced its first AI inference chip. The chip is called ‘Hanguang 800’ which performs machine-learning tasks efficiently and quickly. The neural processing unit is being used to power features on Alibaba’s e-commerce sites, including product search and personalised recommendations. The Hanguang 800 will be made available to Alibaba Cloud customers at a later stage.
Robotics is automating routine processes by using machines to make businesses faster, less expensive, and more efficient. Amazon is revamping its warehouse automation efforts, which were previously centered around ground-based robots that assisted human workers. In 2012, Amazon purchased Kiva Systems, a warehouse robotics manufacturer, and deployed its technologies across its broad network of warehouses. These robots are used to transport within a warehouse pallet of inventory from one location to another. They are designed to work in tandem with human warehouse workers where a worker must place items on the robot. For pallets on the lower shelf, these machines don’t need any human intervention. Amazon's efforts to roll out the CartonWrap machines signal an expansion of its warehouse automation efforts with the aim of creating a cheaper and more efficient supply chain. The machines can box up to 600 boxes per hour, which is about 4-5 times the rate a manual human packer can. In addition, Amazon reportedly expects to recover the up-front costs of the machines in under two years.
The rise of 5G networks is increasing our ability to move, manipulate, and analyze data across wireless platforms. As 5G rolls out, it will drive the development of more complex apps to solve problems and increase growth across industries.
The difference between our current wireless networks and 5G is speed and latency. 5G is expected to be up to a hundred times faster. That speed will reduce, and possibly eliminate, the delay i.e. latency between instructing a computer to perform a command and its execution. One estimate projects that 5G will pump twelve trillion dollars into the global economy by 2035 and add twenty-two million new jobs in the United States alone. This 5G world can usher in a fourth industrial revolution.
Abhimanyu Singh Dhapola