These Jaw-Dropping Facts Will Change Your Mind About the Internet of Things
If you have a finger on the pulse of the world's significant tech trends, then you've already seen the IoT in action.
The market for the Internet of Things (IoT) has been slowly developing over the years, and now includes connected devices and automated systems for everything from agricultural equipment to autonomous vehicles. But since the IoT isn't a single tech product, it can be difficult for investors to understand how it's benefiting tech companies, and what the potential is for this growing market.
So to give some perspective on the IoT, here are a few important facts that investors should know about this fast-growing tech trend....
... IoT devices will account for up to 83% of AI chips by 2023
The artificial intelligence market is growing quickly, and some estimates say it could add $15.7 trillion to the global economy by 2030. But one of the most significant aspects of AI is its use in processing lots of data quickly -- and on devices that never collected data before.
It's why the Internet of Things and AI go hand in hand, and why just four years from now IoT devices (like cars, smart speakers, smartwatches, and agricultural equipment) will account for 83% of AI chips.
Why does the IoT need AI? Because without it, the billions of devices that will come online over the next few years would collect mountains of data but not know what to do with it. Research company Gartner recently said that "data is the fuel that powers the IoT" and noted that "AI will be applied to a wide range of IoT information, including video, still images, speech, network traffic activity and sensor data."
In short, billions of internet-connected devices will depend on AI to make sense of all the data they harvest, and that, in turn, will likely fuel growth in the AI chip market -- from about $4.5 billion in 2017 to $91.2 billion by 2025.
That's excellent news for NVIDIA, one of the leading AI chipmakers. The company's graphics processing units (GPUs) are used in AI data processing; as the artificial intelligence market balloons, their use cases in IoT devices are likely to expand as well....MORE
