🔮Executive Insights: ClearBlade CEO’s 5 IoT, Edge, and AI Predictions for 2024

It’s that time of year again! Read on for a summary to learn my top predictions for the future of #IoT, #Edge, #AI, #GenerativeAI, #DigitalTwin, and jump to the ClearBlade blog for a deeper dive into each of these topics:

1. AI Becomes the “Killer App” for Edge

Until now, edge computing has primarily performed simple tasks such as protocol conversion, data filtering, and real-time rule processing. With the rising interest in AI, edge computing will run AI models locally, close to where the data is being generated, providing efficiency and resiliency. 

Eventually, the ever-elusive smart home will become a reality as edge AI is embedded into our appliances and smartphones, enabling them to adapt and learn to interact naturally with our everyday commands. Something depicted years ago on The Jetsons and Star Trek will finally become a reality.

Bottom line: AI will become the “killer app” for edge computing, making it the primary reason companies get serious about applying it to their businesses.

2. Digital Twins Get Connected with IoT

Digital twins have been a hyped technology for many years. The problem with most digital twins is that they are disconnected from actual physical devices, severely limiting their capabilities. 

An operational digital twin brings a traditional digital twin out of the scientific world and into the operational world, providing more value to operators who can now monitor, track, and control their physical equipment. By using IoT technology, a simple digital twin is transformed into a much more usable operational digital twin.  

Bottom line: Operational digital twins emerge as digital twins get connected with IoT, providing more value to operations and business as a whole. 

3. Generative AI Elevates Digital Twin Creation

Generative AI is dominating the news right now, and rightfully so, because it is transforming virtually everything we do. By leveraging the power of generative AI to create, connect, and control operational digital twins, we will experience a massive shift in how operations experts interact with their physical equipment.

We will see companies that have digital twin and IoT software invest in adding generative AI to augment their already powerful software. The ones who do it well will accelerate past those who do not.

Bottom line: Generative AI will elevate operational digital twin software usage, enabling operational professionals to control physical equipment in their natural business language.

4. ESG Becomes Accountable with IoT

Over the past few years, the world has witnessed the rise of Environmental, Social, and Governance (ESG) movements. With increasing awareness and concern for the planet's sustainability and the impact of businesses on society, ESG has become a crucial factor in decision-making processes. These movements are gaining momentum in companies worldwide, but their effectiveness has been hard to measure, and most ESG policies appear to be nothing more than glorified marketing campaigns.

Because IoT and operational digital twin technology have progressed to put the power into the hands of operational personnel, this movement has gained momentum, and we are seeing real progress now.

Bottom line: In 2024, ESG is becoming accountable through advancements in IoT and digital twin technology, enabling companies to reach their ESG program goals.

5. Cloud Providers Embrace Third-Party IoT Services

Over the past few years, cloud providers, IBM, Google, and SAP, to name just a few, have moved away from their acquired and internally developed IoT solutions. We are seeing a foundational shift in how IoT is delivered because what most have been trying to achieve over the past decade has failed.

Most IoT projects are unsuccessful because building flexible, scalable, and cost-effective IoT solutions are complicated. 

Bottom line: Embracing proven, third-party IoT software in partnership with cloud providers significantly improves the entire IoT industry’s success.