Ivan Zhou – Analyst, Global Industry
An Optimistic Forecast for IoT
With the new year underway a number of consulting firms and research institutes have released their forecasts for Internet of Things applications in 2019. According to the IDC, global IoT spending will increase by 15.4 percent in 2019, with US$100 billion going to manufacturing; while insurance, the federal government, and healthcare will see the fastest investment growth. The forecast provided by the consultancy Nerdery is similar: healthcare, manufacturing, automotive, and local city councils will see a broad range of rapid IoT applications. There is a clear trend to leverage IoT technology to connect devices and bring data online, then use artificial intelligence technology to do proactive mitigation, risk management, and efficiency improvement. It is a clear path, but based on past experiences, it is still very challenging in implementation, and will likely require one of the industry giants to finish building an end-to-end implementation platform and show clear monetary value. The remaining players will then follow and replicate the success. By this point the proliferation of IoT will become sustainable.
January 4 – Four Industries Will See More and Rapid Implementation of Internet of Things
- In Healthcare, smart sensors have become more accurate in tracking body measurements including cardiac readouts and sleep patterns. Embedded digital tools have been piloted at large scale to predict and mitigate infection risks.
- In Manufacturing, there have already been many attempts to leverage IoT to bring entire facilities online and then use AI to reduce energy consumption and improve efficiency.
- In Automotive, there are attempts to add more indicators to vehicle dashboards and connect vehicles to smart grids.
- In the Public Sector, IoT applications implemented by city councils will enable residents to gain insights about local traffic, school buses, power outages, weather, and so on.
January 4 – IoT Spending will Reach US$745 Billion Globally in 2019
- According to the IDC, Global IoT spending will reach US$745 billion in 2019, a 15.4 increase increase from 2018.
- The insurance industry will see the fastest annual growth at 17.1 percent, federal government will see 16.1 percent, and healthcare 15.4 percent.
- In terms of total spending, manufacturing are expected to receive US$100 billion in investments, asset management US$44.2 billion, and smart homes US$44.1 billion.
- Approximately US$258 billion will got to IT and operational services, US$250 billion to hardware, and US$154 billion to software.
- Top countries for IoT investments will be the US with US$194 billion, China with US$182 billion, and Japan at US$65.4 billion.
Rirou Xiong – Analyst, Global Industry
Using AI to Change the Smart Home
Consumer electronics manufacturers such as Panasonic and Sharp are launching lines of dedicated Internet of Things Home Electronics products. The core “smart home” definition has changed from saving energy to improving lives, and Panasonic’s new “Home X” service creates consumer convenience by linking rice cookers, water heaters, roller shutters, consumer electronics, electronic locks and wireless connections etc. in residential installations. An artificial intelligence system can control the entire digital home through the cloud network. Panasonic is also working on next-generation Home X models enabled by cloud-based artificial intelligence, a trend which is expected to continue this year and into the future.
January 3 – Panasonic Smart X Microwave AI Listens and Learns User Preferences, Serves Up “One Bowl Menu” Convenience
- Using language recognition, infrared sensor movement and temperature sensors, this compact smart microwave oven takes instructions from the user’s voice commands to cook food appropriately. The “One Bowl Menu” option dramatically reduces smart meal preparation, cooking and cleanup times.
- The Panasonic microwave oven’s sensors can also intelligently determine for example if food has spilled or overflowed, in order to increase operating safely.
January 1 – Hitachi Smart Washing Machine Judges How to Wash, Auto-Introduces Detergents, Talks
- Hitachi Appliances has developed a washing machine that uses AI to automatically adjust water temperature and hardness.
- The system collects information such as the type of detergent, amount of clothing, amount of dirt, and water hardness using multiple sensors, and automatically selects a wash process suitable for each scenario.
10 AI News You Must Know
January 4 – Google is Developing Hardware for Precise Detection of Tiny Objects
January 4 – AISpeech Announces its First AI Chip for Connected Devices
January 3 – Intel AI Protects Animals with National Geographic Society and Leonardo DiCaprio Foundation
January 4 – Austin Regional Clinic Selects Notable Health to Advance New Artificial Intelligence Powered Physician-Patient Interaction
January 3 – Forbes is Building More AI Tools for its Reporters
January 2 – FDA Clears AI Device for Diagnosis of Diabetic Retinopathy; Favorable for AI in Digital Pathology?
January 1 – Embracing AI in Africa is Crucial
December 31 – Facebook Open-Sources PyText for Faster Natural Language Processing Development
December 28 – China Releases First Short Video AI Production Platform
December 26 – Artificial Intelligence and Renewables: A Peek into the Future of Energy
Presented by Synced Industry Analyst Team