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Entrepenueship 1
Entrepenueship 1
Please explain with Example (i) Industrial Internet of Things and (ii) Artificial Intelligence
and Machine Learning
Answer:
Industrial Internet of Things
IIoT stands for the Industrial Internet of Things or Industrial IoT that initially mainly referred to an
industrial framework whereby a large number of devices or machines are connected and synchronized
through the use of software tools and third platform technologies in a machine-to-machine and Internet of
Things context, later an Industry 4.0 or Industrial Internet context. Today IIoT is mainly used in the scope
of Internet of Things applications outside of the consumer space and enterprise IoT market, as an
umbrella term for applications and use cases across several industrial sectors. The Industrial Internet of
Things or IIoT is defined as “machines, computers and people enabling intelligent industrial operations
using advanced data analytics for transformational business outcomes”.
GE (General Electric) coined the name “Industrial Internet” as their term for the Industrial Internet of
Things, and others such as Cisco termed it the Internet of Everything and others called it Internet 4.0 or
other variants. However, it is important to differentiate the vertical IoT strategies, such as the consumer,
commercial, and industrial forms of the Internet from the broader horizontal concept of the Internet of
Things ( IoT ) , as they have very different target audiences, technical requirements, and strategies. For
example, the consumer market has the highest market visibility with smart homes, personal connectivity
via fitness monitors, entertainment integrated devices as well as personal in-car monitors. Similarly, the
commercial market has high marketability as they have services that encompass financial and investment
products such as banking, insurance, financial services, and ecommerce, which focus on consumer
history, performance, and value. Enterprise IoT on the other hand is a vertical that includes small-,
medium-, and large-scale businesses. The Industrial Internet of Things, which encompasses a vast amount
of disciplines such as energy production, manufacturing, agriculture, health care, retail, transportation,
logistics, aviation, space travel and many more.
For example Amazon Reinventing warehousing. The online retail giant doesn’t often get called an IIoT
company, but, to be sure, the company is an innovator when it comes to warehousing and logistics.
Classic AI—This model is still used as it is very efficient in question answering, such as IBM’s
Watson and Apple’s Siri.
Neural networks—Data mining in large static data sets with the focus on classification and
pattern recognition.
Biological neural networks—It has many uses typically in security devices tasked with the
detection of uncharacteristic behavior, as its strengths lies with prediction, anomaly detection, and
classification.
For example self-driving cars