Internet of Things (IoT) is the enabler of data, therefore, no longer are we constrained by the hardwired data that is available in large assets and equipment, the potential is now endless, although we are careful to consider the necessity, usability and ROI on additional data.
Below simply describes how AI can be used and the sequence of events that take place to utilise data.
It starts with the infrastructure or hardware which produces the data,
THEN it is sent to a cloud source so that models or algorithms which integrate AI and machine learning can be deployed,
THEN insights and directives are pushed via the internet to a dashboard, APP, email or other message channel and customised to enable a productive operations team process.
Therefore, does this create more potential for your portfolio?