Emerging Exponential Technologies in Business Decision Making
Emerging Exponential Technologies in Business Decision Making
Dr KSL
MODULE-6
Emerging Exponential Technologies in Business
Decision Making
AI and ML have taken over many business operations and are at the forefront of technological
advancements. These technologies can analyze vast data in the shortest span and help businesses
in informed decision-making and improve operational efficiency.
AI-Powered Chatbots: Streamlines customer service experience by offering instant support and
personalized interactions to improve satisfaction. IoT Sensors: Optimize supply chains by
providing real-time data on inventory levels, equipment performance, and environmental
conditions.
The fourth industrial revolution, commonly known as Industry 4.0 is not only changing the way
we manufacture but also the way we live. New emerging technologies are making us more
productive and are bringing about ease of operation. We, humans, are getting relieved from
spending hours on many unproductive tasks that are taken care of by the machines equipped with
these fast-emerging technologies. The future belongs to these technologies and to be future-ready
and competitive, The blog focuses on emerging technologies and how they are impacting and
changing the world.
1. Artificial Intelligence (AI) and Machine Learning (ML) - Artificial intelligence and Machine
Learning are the terms coined to describe machines that can use their own experience to make
corrections, understand new inputs and adjust accordingly, and perform tasks that would
normally require human intelligence. AI and ML do not necessarily apply to the manufacturing
industry only. These technologies are used to train computers to use a large amount of data to
understand a pattern in it and work accordingly. Machine Learning makes computers learn
automatically without any human assistance.
Any equipment working on AI and ML has the capacity to store more data than a human mind.
Almost all fields of human activity have started using these technologies.
2. Robotic Process Automation (RPA) - There are a lot of business processes that are done
manually and are repetitive in nature. Robotic Process Automation makes use of computer
software or programs to partially or fully automate these processes.
Robot Process Automation technology can do many tedious tasks that humans may find boring.
Another benefit of RPA is that it can complete the work faster than humans because it can
retrieve the necessary data from the background more easily and quickly.
Cyber security - Every organization wants to protect its systems, networks, and data from any
kind of digital attack. This is so because these digital attacks may access, change, or destroy
sensitive information. Cyber security is the practice of protecting an organization's data and
business processes. It consists of technologies and processes which are designed to avert digital
attacks.
Cyber security is more relevant and essential in today’s digital age as cyber attackers are
becoming more active. The number of data breaches is rising continuously. Many organizations
have highly sensitive information. For example, armed forces, government departments, medical
services, etc. Cyber attackers are always on the lookout for such information and invent new
methods to access this information.
In the course of doing their business, organizations are required to transmit a lot of data that may
include personal information, financial data, or even strategic plans and their misuse could have
a gravely negative impact on the business of the organization. Hence, the importance of cyber
security has become even more important.
Cognitive Systems - As we all know, cognitive means related to thinking or reasoning, so the
term Cognitive System refers to any solution, software, or hardware that can replicate human
intelligence such as learning and problem-solving. These systems interact with humans naturally.
They are not just programmed. On the contrary, they learn from their interactions with humans
and their own experiences.
Today, organizations deal with huge volumes of business information but they don't know how
to take full advantage of it. This is where Cognitive Systems come into play. They help
organizations to process this data explosion in a structured manner and make effective decisions.
Data Science - Until now, the data available used to be structured and was not so voluminous. It
could be easily detected and analyzed by using simple business tools. But nowadays, the data
available is not only huge in volume but is also either unstructured or semi-structured. Expert
studies show that currently, more than 80% of the available data is unstructured.
This is where Data Science comes in. Data Science is a field that uses a blend of scientific
methods, processes, and advanced algorithms to get useful insights into all kinds of data, be it
structured or unstructured. It is a high level of technical skill that enables data professionals to
build complex algorithms that help in organizing and analyzing a large amount of data and
provide solutions that drive the strategy of their organization. Data Science enables companies to
uncover many hidden insights like trends, consumer behavior, etc., which helps them in making
smarter business decisions.
Evolution of Industry from 1.0 to 4.0 Before digging too much deeper into the what, why, and
how of Industry 4.0, it‘s beneficial to first understand how exactly manufacturing has evolved
since the 1800s.
There are four distinct industrial revolutions that the world either has experienced or continues to
experience today.
The First Industrial Revolution The first industrial revolution happened between the late 1700s
and early 1800s. During this period of time, manufacturing evolved from focusing on manual
labor performed by people and aided by work animals to a more optimized form of labor
performed by people through the use of water and steam-powered engines and other types of
machine tools.
The Second Industrial Revolution In the early part of the 20th century, the world entered a
second industrial revolution with the introduction of steel and use of electricity in factories. The
introduction of electricity enabled manufacturers to increase efficiency and helped make factory
machinery more mobile. It was during this phase that mass production concepts like the
assembly line were introduced as a way to boost productivity.
The Third Industrial Revolution Starting in the late 1950s, a third industrial revolution slowly
began to emerge, as manufacturers began incorporating more electronic—and eventually
computer—technology into their factories. During this period, manufacturers began experiencing
a shift that put less emphasis on analog and mechanical technology and more on digital
technology and automation software.
The Fourth Industrial Revolution, or Industry 4.0 In the past few decades, a fourth industrial
revolution has emerged, known as Industry 4.0. Industry 4.0 takes the emphasis on digital
technology from recent decades to a whole new level with the help of interconnectivity through
the Internet of Things (IoT), access to realtime data, and the introduction of cyber-physical
systems. Industry 4.0 offers a more comprehensive, interlinked, and holistic approach to
manufacturing. It connects physical with digital, and allows for better collaboration and access
across departments, partners, vendors, product, and people. Industry 4.0 empowers business
owners to better control and understand every aspect of their operation, and allows them to
leverage instant data to boost productivity, improve processes, and drive growth.
Pushed by many obstacles to achieving desired farming productivity — limited land holdings,
labor shortages, climate change, environmental issues, and diminishing soil fertility, to name a
few, — the modern agricultural landscape is evolving, branching out in various innovative
directions. Farming has certainly come a long way since hand plows or horse-drawn machinery.
Each season brings new technologies designed to improve efficiency and capitalize on the
harvest. However, both individual farmers and global agribusinesses often miss out on the
opportunities that artificial intelligence in agriculture can offer to their farming methods.
At this pivotal moment, Artificial Intelligence offers unprecedented opportunities for agriculture.
From enhancing crop yield and quality to optimizing resource usage, AI's impact is far-reaching.
Whether it's analyzing land use with high-precision satellite imagery or predicting crop diseases
through real-time monitoring, AI applications are gradually taking root globally. This wave of
technology is not only garnering widespread attention in agri-tech but also attracting investments
to fuel innovation and growth.
Benefits of AI in agriculture
Data-based decisions
The modern world is all about data. Organizations in the agricultural sector use data to obtain
meticulous insights into every detail of the farming process, from understanding each acre of a
field to monitoring the entire produce supply chain to gaining deep inputs on yields generation
process. AI-powered predictive analytics is already paving the way into agribusinesses. Farmers
can gather, then process more data in less time with AI. Additionally, AI can analyze market
demand, forecast prices as well as determine optimal times for sowing and harvesting.
Cost savings
Improving farm yields is a constant goal for farmers. Combined with AI, precision
agriculture can help farmers grow more crops with fewer resources. AI in farming combines the
best soil management practices, variable rate technology, and the most effective data
management practices to maximize yields while minimizing minimize spending.
Automation impact
Agricultural work is hard, so labor shortages are nothing new. Thankfully, automation provides a
solution without the need to hire more people. While mechanization transformed agricultural
activities that demanded super-human sweat and draft animal labor into jobs that took just a few
hours, a new wave of digital automation is once more revolutionizing the sector.
Explore the types of AI used in health care, some of their applications, the benefits of AI within
the field, and what the future might hold. You’ll also discover relevant jobs and online courses
that can help you start learning to use AI for health care purposes today.
Unsurprisingly, AI presents a wealth of opportunities to health care, where providers can use it to
enhance a variety of common medical processes—from diagnosing diseases to identifying the
best treatment plans for patients facing critical illnesses like cancer. Robotic surgical equipment
outfitted with AI can help surgeons better perform surgeries by decreasing their physical
fluctuations and providing updated information during the operation.
AI provides a number of benefits to the field of health care, the professionals working within it,
and the patients who interact with it every day. While health care professionals can expect lower
operational costs due to improved decision-making and more efficient automated services,
providers can leverage the technology to design bespoke treatment plans and diagnose conditions
more quickly and accurately than they could alone. Patients may experience improved health
outcomes and lower costs resulting from more efficient health services.
Standard medical practice using technology will very soon replace traditional methods by
accumulating large datasets generated in hospitals and stored in electronic medical records
through tests and medical imaging allowing AI to perform highly-data-driven medicine. Such
applications are continually changing the clinical problem-solving approaches of both doctors
and researchers.
ML models are used to observe risk factors in patients by examining the vital signs of patients
receiving critical care. AI models can alert clinicians in cases of emergency by assessing the
input data. Even complex conditions such as sepsis can be detected by a predictive AI model for
premature babies, which is 75% more accurate in detecting severe sepsis.
AI in medical imaging
The artificial neural network has proven to be as effective as many radiologists in detecting
symptoms of diseases accurately. A greater number of medical images can be stored with the
help of computational resources allowing clinicians to more easily keep track of a patient’s
history.
Since the development process of new drugs is complicated, expensive, time-consuming, and
challenging, computer-aided drug discovery technology is being used in the discovery and
development of novel drugs to study their physiochemical and biological properties.
Error reduction
AI can improve the safety of patients and AI safety tools can ensure accurate decision-making
with improved error detection and drug management. AI-powered tools have made life easy for
physicians and healthcare workers.
AI tools provide accurate information for diagnosis and other medical areas promptly. With AI,
medical professionals can be supported with swift and accurate data to accelerate and improve
critical clinical decision-making. Authentic results lead to improved protective steps, cost-
effectiveness, and reduced patient wait times leading to improved physician-patient relationships.
Streamlined tasks
Healthcare practices are changing everywhere. AI innovative tools are helping with collecting
healthcare records, appointment scheduling, translating clinical details, and tracking patient
histories. AI tools have streamlined the tedious and meticulous tasks associated with medicine.
Automated AI tools have provided medical professionals with more time to see more patients for
diagnosis and treatment. AI has increased productivity considerably helping hospitals to make
considerable cost-savings. The medical necessity determination has also improved.
Physicians’ long working hours and stress have been reduced with AI solutions that align courses
of action, automate functions, share data instantly, and organize performances. They have
reduced the workload and pressure and helped medical staff to easily manage multitasking.
Precision treatment
Personalized care has now become easier with AI support. AI models can learn and remember
preferences and provide customized real-time recommendations to patients in a personalized
way. AI tools can find the solutions for many challenges and treatment responses for many
diseases. With AI-assisted tools, precision medicine can be provided for the treatment of
diseases.
Although organizations are only beginning to harness the potential of artificial intelligence, some
are already using the technology to fuel innovation and create new products and services.
While virtual assistants are some of the most well-known examples, industries are finding many
other ways to incorporate AI into their wares or use AI to develop new offerings.
Organizations for years have used AI to automate many manual tasks, such as data entry. Now
they're using next-generation intelligence, such as generative AI, to handle cognitive tasks such
as summarizing reports and drafting communications.
Even when tasks can't be automated, experts said AI can still aid workers by offering advice and
guidance that helps them level up their performance.
Such AI applications "help level up the skills of a more junior person in the company and help
them perform at a more senior level, and it helps experts really shine," said Mike Mason, chief
AI officer at consultancy Thought works. "It's an enabler that allows people to do things they
otherwise wouldn't have been able to do."
4. AI as a creative force
Indeed, artificial intelligence is now capable of creating compositions of all kinds, including
visual art, music, poetry and prose, and computer code.
Some have questioned whether AI-generated works are derivative in either the legal or artistic
sense -- or both -- as the technology works by analyzing and learning from the data it's given for
training. Regardless of the answer, AI is being used by organizations to create a range of works.
How efficiently we integrate artificial intelligence into educational systems will depend on
balancing technological advancements with human values and social equity. Ultimately, the goal
is to use AI to shape future generations and innovate for the common good.
Case study
Bolton College, a further education college in the UK, serves over 10,000 learners with a team of
only seven people. For a long time, video has been the standard format for creating online
learning materials. Since they implemented AI for video creation, the team has been able to
create content at scale with 80% time savings.
School can be tough! Personalized learning makes it more fun because you learn the way you like.
And videos can help explain stuff better, just like pictures in a book! That's' why we remember
ninety percent of a video's message compared to only ten percent of text reading. And when we
combine custom learning with videos, the results exceed expectations.
i) AI in education isn't about replacing teachers. In fact, AI tutors and chat bots can assist
teachers and provide one-on-one support for student learning. These virtual assistants make the
learning experience more efficient and focused and the school more fun. A tutor will give step-
by-step problem-solving assistance. Schools can deploy one for subjects where students
commonly struggle. Alternatively, AI chat bots answer key questions around the clock, reducing
response time.
ii) Some artificial intelligence solutions on the market are excellent for explaining complex
concepts. Science, programming, and language learning particularly benefit from using AI. That's'
because these topics are more intimidating and complex. Breaking them into manageable lessons
makes the study more approachable and enjoyable.
iii) Sophisticated AI systems create adaptive learning environments. In other words, they tailor
the study content to each student's learning pace and style. And AI analytics show educators how
students perform and their learning patterns. All it takes is for the AI games and simulations to
align with the curriculum. The will improve student motivation and knowledge.
iv) Millions children worldwide have some disability. But AI can give these children universal
access to education. Customized learning instruments that help with specific needs have the power
to change lives. For example, Microsoft Learning Tools makes texts more accessible with the
Immersive Reader function. JAWS can read the screen for users with vision loss. And those with
hearing difficulties can use Otter.ai for real-time transcriptions.
v) Early intervention can change a student's learning trajectory big time. AI can look at
performance data and analyze various metrics. It will quickly spot at-risk children and tell which
ones need extra support. At the same time, AI has some more potential benefits, as it can: i)
Provide insights to customize intervention strategies. Ii) Forecast potential academic challenges
and enable proactive support.
vi) Artificial intelligence systems are the sidekicks that catch students' mistakes. But instead of
shouting them out, they whisper tips to improve. They can tell each student how to improve in a
personalized, effective way. This specific use of AI in education isn't just about reducing the
teacher's workload. This technology is also helping children learn faster, feel more confident, and
reach their goals.
vii) One of the great uses of Artificial Intelligence of digital learning in education is universal
access to study material. Each student has his own grasping capability, and with the use of
universal access, they can learn anywhere and anytime. Students can explore things whenever
they want to learn without waiting for the tutor. Moreover, students get the facility of high-
quality courses and material from all over the world at their place only without travelling away
from their home.
IoT devices—also known as “smart objects”—can range from simple “smart home” devices like
smart thermostats, to wearables like smart watches and RFID-enabled clothing, to complex
industrial machinery and transportation systems. Technologists are even envisioning entire
“smart cities” predicated on IoT technologies.
IoT enables these smart devices to communicate with each other and with other internet-enabled
devices. Like smart phones and gateways, creating a vast network of interconnected devices that
can exchange data and perform various tasks autonomously. This can include:
A smart home is a residence that uses internet-connected devices to enable the remote
monitoring and management of appliances and systems, such as lighting and heating.
Smart home technology -- also often referred to as home automation or domotics from the Latin
word domus, meaning home -- provides homeowners security, comfort, convenience and energy
efficiency by letting them control smart devices, often using a smart home app on their smart
phone or another networked device.
A part of the internet of things, smart home systems and devices often operate together, sharing
consumer usage data among themselves and automating actions based on the homeowners'
preferences. A smart home isn't a collection of disparate smart devices and appliances, but rather
ones that work together to create a remotely controllable network.
All devices -- such as lights, thermostats, security systems and appliances -- are controlled by a
master home automation controller, often called a smart home hub. This hub is a hardware
device that acts as the central point of the smart home system and can sense, process data and
communicate wirelessly. It combines all the disparate apps into a single smart home app that
homeowners can control remotely.
Electric grids are the complex system of networks that deliver energy from its production origin,
like power plants, to users such as residential consumers and businesses. In the United States, the
traditional electric grid was built over a century ago and relies on a one-way flow of electricity
from source to destination.
However, technology is now changing the way energy is produced, stored, and saved on the
grid—and opening the door to a burgeoning smart energy infrastructure. The addition of
intelligent Internet of Things sensors, microgrids, digitization, distributed renewable energy
sources, and automation is forming the new smart energy ecosystem, of which the smart grid is
part.
In the same way the Internet facilitates a flow of information and data between computers tapped
into a single network, the smart grid system is powered by a web of interconnected devices.
But digitizing and automating energy communication signals isn’t the only thing the smart grid
does. The new smart energy ecosystem also brings about a fundamental shift in the transmission
of energy. Consumers, who were previously limited as recipients of energy, are now able to
locally generate and store energy themselves at the edge—via commercial wind turbines and
solar farms, but also through consumer solar storage systems in residential settings.
As Forbes put it: “Now, as consumers become producers of energy due to maturing solar panels,
wind turbines, and other sources of energy, the power flow is 2-way.”
As we’ll see, IoT applications through the smart grid and overarching smart energy infrastructure
are poised to change the way energy solutions are conceived—both now and in the future.
How IoT Makes the Smart Grid ‘Smart’ - From Open to Closed Loops
Within the confines of the traditional grid, electric utility providers have little insight into how
consumers actually use electricity. The one-way flow of a traditional grid is purely demand-
based—when there’s an uptick in demand for electricity, operators send more to the grid.
Smart grids offer something radically different: a bi-directional flow of information between
consumers and utility companies.
At Smart Energy Summit 2022, Dr. Kenneth Wacks shared that the promise of the smart grid lies
in helping infrastructure evolve from an open loop to a closed loop. By adding data collection
capabilities at the edge—which includes smart meters, smart home technologies, EV chargers,
solar/wind farms, and more—usage and condition data can be shared across the value chain. This
makes the grid more resilient because grid operators can detect outages and issues without
relying on customer complaint volume to tell them something is wrong.
Similar to traditional meters, smart meters record and store information related to electricity
usage. However, smart energy solutions take this to the next level by using wireless networks to
send this information directly back to the energy supplier. This approach provides a much more
nuanced view of the way energy is used. With smart solutions deployed from the edge all the
way back to the utility, the entire value chain will gain insight into usage patterns that can change
based on time-of-day, seasonality, and other factors.
In this way, smart energy solutions help both the utility provider and consumer to make more
informed choices. Utilities can better anticipate energy needs, and even provide consumers with
incentives that save both of them money.
How IoT Can Enable Smart Energy Solutions That Strengthen Smart Grids — Use Cases
Smart grids represent the application of IoT technology in the energy sector. When done well,
smart grids resolve several problems associated with traditional grids: outages, security concerns,
high carbon emissions, and other factors.
The following list includes references to specific solutions incorporating IoT and smart grid
applications.
Smart Meters
Advanced metering infrastructure is one of the key components of smart grid technology, and
smart meters are the devices that bring the solution to life.
Smart metering works by providing a line of bi-directional communication between the devices
themselves and the utility with the purpose of gathering, disseminating and analyzing user
energy consumption data.
The sort of advanced metering solutions provided by smart meters are a vast improvement over
automatic meter reading, which involve a one-way communication that limits the potential for
improvements to future analysis. With automatic meter reading, data is collected, sent, and
analyzed by the utility after the energy usage event.
With advanced metering, however, the insights recorded and communicated by the smart meter
can be implemented by automated processes in real-time.
ii) Modify pricing and supply on the fly based on data insights
IoT technologies like smart meters can also help individuals and companies alike better the
efficiency of their solar farms.
Solar farms are not only great for ROI—they also make a big difference toward the reduction of
Carbon dioxide (CO2) emissions. Iot-based technologies like smart grids take this a step further
by helping solar farms improve operations.
Examples include:
i) Improving predictive analysis by collecting and analyzing yield data while adjusting for
variables including time of year, weather, and individual panel performance
iii) Getting more out of each panel by optimizing for factors like tilt angle and direction
Replacing vehicles that run on fossil fuels with electric vehicles (EVs) is one of the key
indicators for reducing carbon emissions in years to come. But the explosive growth in the EV
market presents its own set of unique challenges, including but not limited to the charging
infrastructure needed to support millions of new EV drivers and their vehicles.
An IoT smart grid–based approach to EV charging can alleviate the pressure from one of its
biggest challenges: identifying and coordinating optimal charging strategies for drivers.
In one use case, smart grids deployed to individual EVs can continuously monitor charge levels
over the course of a journey. Simultaneously, these monitors connect to a GPS network of other
charging stations. The goal? An EV assistant that can recommend the optimal time and place for
refueling based on a variety of competing factors, including:
i) The EV’s charge level, ii) Availability and business of nearby charging stations,
iii) Location of available charging stations, iv) The EV’s location and destination.
IoT-based assistive technology for EV charging could accelerate the adoption of EVs for both
consumer and commercial uses - contributing to wider goals related to emissions reduction.
The switch to renewable based on sources like wind and solar energy can leave businesses and
consumers alike grappling with the inherent variability these sources introduce.
Batteries are increasingly used for excess energy storage. The excess energy can be redistributed
to others on a grid. But when batteries are under or overcharged with energy, it not only
decreases performance—it can lead to a diminished battery life cycle for the business or
consumer relying on it to effectively store energy.
Smart systems that monitor a battery’s state-of-charge (SOC) can help prevent premature failure
due to under or overcharging.
The IoT supports the technology and communication required to make “smart grids” smart.
In the context of the smart grid, IoT has concrete applications for monitoring electricity
generation, gauging intelligent power consumption, managing energy efficiency, and much
more.
Below, we break down some of the key benefits and use cases for IoT in the smart grid.
The energy sector loses billions of dollars in value due to fraud each year, resulting in higher
prices for consumers and increased taxes for taxpayers supporting government energy subsidies.
It’s been estimated that as much as $100 billion is lost due to energy theft and other non-
technical losses every year.
Energy theft can be the result of direct theft—consumers connecting directly to the main supply
and bypassing metering efforts—or by tampering with meters. Before the introduction of
advanced metering infrastructure, it was more difficult to detect fraud without making physical
inspections of units or auditing records.
Now, IoT solutions exist that bring theft detection and prevention into the 21st century. By
monitoring key indicators, such as energy availability and consumption, down to the meter in
real time, utilities can help their consumers save money by correcting non-technical losses in
metering and billing.
Remote Control
Remote shut-off features find a natural application in combating energy theft, as they allow
utilities to automatically restrict access to energy and even cut off services in the event of a
delinquent account.
But the practical uses for remote control IoT functions apply to much more than energy utilities.
Companies and consumers alike can use remote control functionality to control remote devices,
and even entire systems, such as industrial air quality monitors, smart home products, and other
devices with smart capabilities.
For users reliant on far-flung grids, the ability to toggle remote assets on and off or otherwise
change their states can be a huge time and cost-saving measure—especially if the alternative is
sending out a technician.
Another key feature in an IoT remote control function is the ability to remotely download and
install core software updates via the cloud, as well as view and manage vital asset data from
anywhere.
Preventative Maintenance
As the name suggests, preventative maintenance is about addressing issues before they happen
with proactive monitoring and fixes. Every time you take your car in for an oil change, for
example, the mechanic adheres a sticker to the inside part of your windshield reminding you to
return either before you drive a certain number of miles or an amount of time passes.
But for the same reasons a skeptical consumer might feel the recommended amount of time
between visits mainly advantages the mechanic they’re paying, it’s important to remember that
scheduled maintenance isn’t without perceived costs. Too much maintenance means you might
be dealing with unwieldy and frequent checkups. Too little maintenance, of course, might also
mean paying for a costly replacement part—or worse, a reduction in equipment performance or
security over time.
The IoT response to preventative maintenance? Real-time asset monitoring through remote,
interconnected devices.
With IoT, monitoring becomes a responsive process. And for some applications, they represent
an enormous improvement over traditional solutions.
One example is in IoT-connected HVAC systems, whose traditional monitoring systems often
represent a prohibitively expensive barrier to entry. With the introduction of internet-connected
microcontrollers, however, key data points, such as voltage, current, tilt, power, irradiance, and
others are used to gauge when components read a breaking point and send out an alert.
IoT allows businesses to get real-time alerts for system deterioration and other features at a
fraction of the cost, sparing them time waiting for repairs to crucial energy infrastructure by
notifying suppliers faster about the need for a fix—improving the overall consumer experience.
Performance Optimization
Power generation is the second-leading cause of greenhouse gas emissions, behind only the
transportation sector.
In a sector aching for innovation, smart grid technology powered by the IoT is leading the digital
transformation for utilities and consumers.
Some of the ways that smart grids help with performance optimization include:
What if consumers could save money by relegating usage to non-peak hours? Companies using
smart grids to optimize their demand response can create incentives for consumers to run their
dishwashers or do a load of laundry during times when there is low energy demand, which would
save them money and decrease unnecessary emissions.
Environmentally and/or budget–conscious consumers, including businesses, can use the data
applications from smart grids to be better informed of their own energy consumption levels. At
the same time, suppliers can better tailor their power to service actual needs of consumers—
instead of relying on estimates.
Utilities and suppliers can use smart grids to analyze the complex relationship between pricing,
availability, efficiency and supply to better optimize all four —faster.
Monitoring
IoT tools can help smart grids monitor key components, alert stakeholders, and identify solutions
to problems.
Storing Energy
Utilities and even consumers can store electrical energy through smart-enabled batteries that
promote healthy life cycles and distribute energy evenly to others on the grid.
Traditionally, billing has often been the most odious element of running utilities. Fortunately,
with IoT-powered smart grid technology, utilities can bring their billing into the 21st century.
Investing in a smart grid involves updating and transforming old infrastructure. But it also
represents a chance to maximize ROI. Smart grids analyze key data and automate finding to
ensure that you’re generating the most possible revenue out of your smart meter implementation.
One of the main advantages of the smart grid for utilities is that it allows them to provide
incentives for consumers to monitor their consumption. With smart billing, you can easily come
up with more creative offers that will make consumers want to reduce their consumption during
peak hours—a win-win for everyone.
Suppliers can create pricing strategies based on daily electricity demand that incentivize users to
shift their consumption to outside of peak hours. When suppliers are able to manage peak times
without generating excess energy, it not only results in savings for the supplier, but decreased
Co2 emissions.
Billing at Scale
Usage-based billing in the era of IoT can get complicated. With the help of smart grids
technology, you can exploit innovative billing solutions at scale without missing a beat.
When they can’t get to the traditional meter to take a reading, energy companies have been
known to bill based on estimated usage. The problem is both suppliers and consumers lose out
when actual usage deviates from the expected—as this results in inaccurate billing for consumers
and usage bottlenecks for suppliers.
Smart grids, with their improved data capture and communication features, fix this problem.
Implementing IoT-based smart city solutions is making urban life more convenient and safer. It
is while helping cities improve infrastructure & public utility services. This article will explore
the potential of IoT technology with practical IoT smart city examples, potential benefits, and
more.
IoT sensors can be installed on traffic lights, roadways, and vehicles to collect data on traffic
patterns, congestion, and accidents. This data can be used to optimize traffic flow, reduce
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Information Technology for Managers
Dr KSL
congestion, and improve road safety. These solutions utilize sensors and GPS data from the
rider’s smart phone to report the location and speed of a vehicle. Further, historical data enables
the prediction of preferred routes and prevent potential congestion problems.
Smart Parking
IoT sensors can be installed in parking spaces to detect when a spot is occupied and transmit that
information to a central server. This data can guide drivers to available parking spots, reducing
congestion and search time. The sensors embedded in the ground transmit the data to the cloud,
immediately notifying the driver whenever a nearby parking spot is vacant.
Public Safety
IoT-enabled cameras and sensors can be installed in public spaces to monitor potential security
threats, such as suspicious activity or unattended bags. IoT-enabled solutions come integrated
with analytics, real-time tracking, and decision-making capabilities. Analyzing the data
generated from CCTV cameras & acoustic sensors embedded throughout the city and the data
generated from social media feeds helps predict potential crime incidents. This can help law
enforcement agencies respond quickly and effectively to potential threats.
Waste Management
Waste collection operators use IoT-powered solutions to optimize collection schedules & routes
with real-time tracking of waste levels, fuel consumption, and use of waste containers. IoT
sensors can be installed in garbage cans and recycling bins to monitor the fill level and optimize
waste collection routes, reducing costs and environmental impact. Every container is embedded
with a sensor that records waste levels. Once a container nears the threshold level, the truck
driver receives an instant notification on a mobile app to empty a full container and avoid
emptying it when it’s half-full.
Utility Management
IoT-equipped smart solutions enable citizens to save their money on home utilities with:
Energy management: IoT sensors can be installed in buildings and homes to monitor energy
usage and optimize energy consumption, reducing costs and carbon emissions.
Smart lighting: IoT sensors can be installed in streetlights to adjust the lighting level based on
ambient light, reducing energy consumption and pollution.
Water management: IoT sensors can be installed in water distribution systems to monitor water
quality, detect leaks, and optimize water usage, reducing costs and conserving resources.
Remote Monitoring
IoT-based smart city solutions also enable efficient utility management for citizens. They allow
residents to use their meters to track and control resource consumption. For instance, a
homeowner can turn off their HVAC system using a smartphone app. And in case of issues like
leakages or potential failures, utility companies can notify households and send specialists for
timely repairs and maintenance.
Environmental Well-being
IoT-powered solutions help municipalities remotely monitor environmental conditions. For
instance, sensors are attached to water grids to inspect their quality and trigger notifications in
case of leakages or changes in the chemical composition of water. The same technology is also
used for measuring air quality in areas prone to pollutants and is critical to recommending
solutions that improve air quality.
Public Transport
Traffic operators can use the data from sensors embedded in multiple sources to analyze and
identify patterns of using public transport. This data helps achieve a standardized level of safety
& timeliness while cutting wait times and enhancing the traveling experience for citizens. A
smart city can also embed BLE beacons on roads and bridges to monitor wear and tear and repair
them immediately in case of impending damage.
At the heart of this agricultural revolution is wearable technology in agriculture. These smart
devices are not just accessories; they are powerful tools that give real-time insights and enhance
decision-making on the farm. From smart glasses that display crop health data to wristbands that
monitor livestock vitals, wearable tech is becoming an indispensable part of the modern farmer’s
toolkit like: i) Real-time crop monitoring, ii) Livestock health tracking, iii) Hands-free access to
critical farm data, and iv) Enhanced worker safety and efficiency.
Argonaut’s wearable solutions are designed to integrate seamlessly with our satellite-based farm
management platform, providing a comprehensive approach to precision agriculture.
One of the most exciting applications of smart farming technologies is remote sensing for crop
monitoring. By leveraging satellite imagery and advanced sensors, we can provide farmers with
unprecedented insights into their fields’ health and productivity like: i) NDVI (Normalized
Difference Vegetation Index) analysis, ii) Soil moisture mapping, iii) Early pest and disease
detection, and iv) Yield prediction and optimization.
These capabilities allow farmers to make data-driven decisions, optimizing resource use and
maximizing yields. Our wearable devices act as a portal to this wealth of information, bringing
the power of remote sensing right to the farmer’s fingertips.
Sustainable farming practices are more than just a trend—they’re a necessity. Argonaut’s smart
farming technologies are designed with sustainability in mind, helping farmers reduce their
environmental footprint while improving productivity like: i) Precision irrigation systems, ii)
Targeted application of fertilizers and pesticides, iii) Carbon footprint tracking and reduction,
and iv) Biodiversity monitoring and protection.
By providing accurate, real-time data on crop needs and environmental conditions, our wearable
tech enables farmers to make eco-friendly choices without compromising on yield.
Augmented Reality (AR) overlays digital content onto the real world, enhancing the user’s
perception of reality. AR can be used on mobile devices, such as smartphones and tablets, to
overlay information on top of the user’s view of the real world.
AR overlays digital information on real-world elements. Pokémon GO* is among the best-
known examples. Augmented reality keeps the real world central but enhances it with other
digital details, layering new strata of perception, and supplementing your reality or environment.
Mixed Reality (MR) is similar to AR, but it goes a step further by integrating digital content into
the real world, so that digital objects can interact with real-world objects. This technology is
often used in virtual training and simulation applications, as well as in gaming and entertainment.
MR brings together real world and digital elements. In mixed reality, you interact with and
manipulate both physical and virtual items and environments, using next-generation sensing and
imaging technologies. Mixed Reality allows you to see and immerse yourself in the world
around you even as you interact with a virtual environment using your own hands—all without
ever removing your headset. It provides the ability to have one foot (or hand) in the real world,
and the other in an imaginary place, breaking down basic concepts between real and imaginary,
offering an experience that can change the way you game and work today.
Virtual Reality (VR) immerses users in a completely virtual world, where they can interact with
digital objects in a more natural way. VR is typically experienced through head-mounted
displays, which provide a 360-degree view of the virtual environment.
These three technologies are increasingly being adopted by the automotive industry for various
purposes. For example, AR is used for training and simulation purposes, allowing mechanics and
technicians to practice repairing and assembling vehicles in a virtual environment. VR is used in
design and engineering, enabling designers to create and test new vehicle models in a simulated
environment. MR combines both AR and VR, providing a more immersive and interactive
experience for customers in showrooms or during test drives. MR can also be used for safety
training, allowing drivers to practice emergency scenarios in a virtual environment. Overall, AR,
VR, and MR have significant potential to transform the automotive industry by improving
efficiency, reducing costs, and enhancing the customer experience.
VR is the most widely known of these technologies. It is fully immersive, which tricks your
senses into thinking you’re in a different environment or world apart from the real world. Using
a head-mounted display (HMD) or headset, you’ll experience a computer-generated world of
imagery and sounds in which you can manipulate objects and move around using haptic
controllers while tethered to a console or PC.
As I referred to earlier, AR has its own magic. It can change the way we interact with mobile
apps and other visual graphic experiences. Actually, Augmented Reality is capable of
augmenting computer-generated graphics into the real environment on screen.
It means if you move your mobile camera to space, AR enables you to see a computer-generated
object on your screen. Altogether, it happens in real time while you view it from your camera.
This technique can enable students to learn in a more interactive environment.
Another aspect of the AR experience is that it includes 25% digital reality and 75% existing
reality. It means it doesn't replace the complete environment with the virtual; rather, it integrates
virtual objects into the real world. Now you may be wondering how this can help in eLearning.
Well, here are some pointers that explain how AR can transform the learning experience.
Moreover, if you want to develop an AR education application, you can seek eLearning software
development from expert developers.
With AR, classroom education can be extraordinary and more interactive, as AR can enable
teachers to show virtual examples of concepts and add gaming elements to provide textbook
material support. This will enable students to learn faster and memorize information.
Human memory doesn't forget visuals easily. Here are some examples of Augmented Reality in
education:
i) An AR app, called "Dinosaur 4D+," with a set of flashcards enables users to view 3D
dinosaurs, scanning through the card. With this, students can see the actions of dinosaurs and use
app features to rotate, zoom, and more. Besides, the application also provides some information
about each dinosaur.
ii) The "Element 4D" AR app is another promising example of Augmented Reality in education,
which makes learning chemistry fun. The application enables users to find the atomic weight,
chemical elements, the reaction between two chemicals, and their names by simply putting two
paper cubes for a special element block. Isn't it amazing?
iii) Another admired example of AR/VR in education is Google Expeditions, which enables
users to see 3D objects in the classroom, such as volcanoes, storms, and even DNA. This
application provides more than 100 AR expeditions that include the history of technology, the
moon landing, and more.
From the above examples, it is clear that AR in education can turn out to be a very exciting and
useful intervention that will change the education system for at least the upcoming 100 years.
And, this isn't just about elementary education, rather it will also transform higher education and
training systems. Let's take a look at them.
Augmented Reality in the education sector renders several sought-after perks including:
AR in education allows students to gain knowledge through rich visuals and immersion into the
subject matter. Moreover, speech technology also engages students by providing comprehensive
details about the topic in a voice format. In short, the concept of eLearning with AR targets a
major information-gathering sense in humans.
Augmented Reality can replace textbooks, physical forms, posters, and printed brochures. This
mode of mobile learning also reduces the cost of learning materials and makes it easy for
everyone to access.
It can also help in professional training. Imagine being able to cook food or operate a space
shuttle without putting others in danger or spending millions of dollars.
The gamification of AR and the education system can make students' attitudes more positive. It
makes learning interesting, fun, and effortless and improves collaboration and capabilities.
Moreover, it provides vast opportunities to make classes less tiring by infusing unmatched
interactivity through a computer-generated environment. eLearning involves students in an
enhanced environment where they can see how concepts happen. For creating such applications,
companies hire developers deft in AR development.
Wrapping Up
Augmented Reality can bring a breakthrough to the traditional education system by transforming
the complete learning experience. Altogether, it will also impact the interest of students and
make them efficient. Also, this will help students in comprehending concepts in an immersive
environment, which will simplify concepts and make learning easy. Moreover, education
institutions will also gain colossal attention by offering an excellent learning experience through
technology.
Application of AR in Medical
Healthcare has always been complex, but the 21st century has brought unprecedented changes.
escalating costs, demand for more personalized patient experiences, and an increased effort to
deliver care to remote and underserved populations pose a litany of new challenges.
ii) Marketing and customer engagement - With deeper penetration of artificial reality
enabled devices Insures can create awareness about the importance of buying
different types of insurance are part of new marketing and customer engagement
plans. This will open new avenues to reach new customers at the same time
retaining existing ones.
iii) Virtual customer care - Artificial reality-based solutions can provide policy
holders real-time guidance on how to fill out claims forms, resolve billing issues
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and other service requests, without having to contact insurance agents or a service
desk.
iv) Remote guidance and employee training - Leveraging AR solutions can bridge the
physical and informational distance between new and experienced employees and
between agents and customers by enabling remote connectivity and ease of
sharing contextual data. The remote expert and support a on field staff whenever
needed. This is especially useful for training claims processors, who have one of
the most important jobs in the industry. Remote technical experts can also provide
a second pair of eyes, and help train agents in real time using AR.
2. Healthy lifestyle:
ii) Healthy eating - The Artificial Reality solution can be used to inculcate
healthy eating habits by providing the nutritional information about the foods
and motivating the users to follow balanced diet.
3. Providers:
ii) Patient insights - Patients are often in the dark about medical procedures or
the effects of medicines they’re prescribed. Virtualized insights on a patient’s
condition and medications can raise awareness and confidence, and encourage
proper dosage.
iii) Patient rehabilitation - These technologies can provide guidance and support
to patients recovering from surgery. AR and VR can simulate controlled
environments to assist with managing post-traumatic stress disorder (PTSD)
or anxiety.
v) Doctor training - Life science companies can use artificial reality technology
to educate and engage health care providers on therapies and procedures to
improve treatment outcomes. Companies can provide compelling stories with
illustrations on bodily impacts of a disease at different stages and the effects
of treatments.
vii) Global epidemics - Outbreaks strain resources, and a lack of medical attention
can be fatal. Artificial reality can extend the reach and collaboration of
providers. Specialists can do remote physical inspections of patients, can
visualize vitals and prescribe treatment instantaneously.
4. Medical Devices:
providers experience products, deep dive into the technical specifications, and
get a 360° perspective of the device and its operations.
Conclusion:
Augmented reality has tremendous potential in healthcare. With the use of technology,
healthcare can be made more affordable and can increase outreach to millions of individuals. The
technology has the potential to address health awareness, disease outbreak and preventions,
diagnosis, medical equipment upkeep and training, treatment and therapy planning, patient
monitoring, lifestyle improvement and patient care.
These technologies can be one day used for support and care of treatment of battlefield patients
or even road rage incidents. First respondents on ground might help the patient in first few
critical moments by performing HCP guided first-aid treatment, which can help save many lives.
The use of head mounted displays enables doctors to keep their eyes on patient with overlay of
critical information like seeing images of ultrasound and other health monitoring parameters
displayed on array of screens of multiple monitoring devices. In future it may enable to do away
with the screens on individual devices and enable and integrated view of patient from the head
mounted headgear.
With advancement in technology coupled with upcoming technologies like 5G, IoT and nano
sensors, more and more opportunities are opening-up. With high-speed network, remote
diagnosis and surgeries can penetrate to masses across globe.
In the film and television industry, AR could be used to create more immersive and interactive
viewing experiences. For example, a movie theater could use AR to project special effects onto
the walls and ceiling or to give audience members the ability to choose their own camera angles
during a film.
Video games are another area where AR could have a major impact. Imagine playing a first-
person shooter game and being able to see enemy positions and other relevant information
displayed in your field of vision. AR could also be used to create more realistic training
simulations for military and first responders. The use of AR in the entertainment industry has the
potential to create unique and engaging experiences that blend the digital and physical worlds in
exciting new ways.
One of the key features of AR is that it allows users to interact with digital content in a way that
feels natural and intuitive. For example, a user might hold up their smartphone and use it to point
at a physical object, and the AR app would display additional information about that object on
the screen.
One of the most exciting applications of AR in entertainment is live events. AR can be used to
enhance concerts, plays, and other live performances by adding digital elements to the physical
environment. For example, an AR app could display lyrics to a song as it is being performed, or
it could add visual effects that enhance the performance on stage. AR could also be used to
create interactive experiences for attendees, such as allowing them to take photos with virtual
versions of their favorite performers.
In the film and television industry, AR could be used to create more immersive and interactive
viewing experiences. For example, a movie theater could use AR to project special effects onto
the walls and ceiling or to give audience members the ability to choose their own camera angles
during a film.
Video games are another area where AR could have a major impact. Imagine playing a first-
person shooter game and being able to see enemy positions and other relevant information
displayed in your field of vision. AR could also be used to create more realistic training
simulations for military and first responders.
Music
AR could be used to enhance music festivals and concerts by adding digital elements to the
physical environment. For example, an AR app could display the lyrics to a song as it is being
performed, or it could add visual effects that enhance the performance on stage. AR could also
be used to create interactive experiences for attendees, such as allowing them to take photos with
virtual versions of their favorite performers.
Theater
AR could be used to enhance plays and other live performances by adding digital elements to the
physical environment. For example, an AR app could display set designs or special effects, or it
could provide additional information about the characters and the story.
Movies
AR could be used to create more immersive and interactive viewing experiences in movie
theaters. For example, a theater could use AR to project special effects onto the walls and ceiling
or to give audience members the ability to choose their own camera angles during a film. AR
could also be used to enhance home viewing experiences by allowing viewers to interact with a
movie in new and innovative ways.
Video Games
AR could be used to create more immersive and interactive gaming experiences. For example, an
AR game could allow players to see digital elements overlaid on the physical world, such as
enemy positions or special power-ups. AR could also be used to create more realistic training
simulations for military and first responders.