How AIoT Can Supercharge Hispanic Businesses

Look, amigo, I get it, starting a business as a Hispanic person in America is one of the most challenging things to do. But you should be glad you’ve made it one step closer to the American dream. 

To keep this momentum going and stay competitive, a digital transformation using technology can help your business greatly. The technologies you need? Artificial intelligence (AI) and Internet of Things (IoT). 

AI and IoT are two of the most buzzing technologies used by businesses like yours today. Paired together, they are known as AIoT and have become a revolutionary force for industries such as e-commerce, healthcare, and robotics, to name a few.   

In this article, I’ll share what these technologies are, how their combined power can help businesses, as well as the benefits and challenges that fusing them together comes with. 

Let’s begin!

What is The Internet of Things?

The Internet of Things is an interconnected network of devices that collect, process, analyze, and share data using an internet connection. They can also work together to perform a set of given tasks.

These devices are powered by sensors and advanced software that allow them to collect data, monitor status, and automatically perform the required actions without human input or guidance. 

Some examples of these devices can include smart wearables and home devices, heavy industrial machinery and vehicles, as well as transportation systems.

Let’s take a quick look at how the process works. 

How IoT Works

• Collecting Data: The sensors in IoT devices can collect and assess real-world data such as temperature, humidity, energy consumption, pressure, or even human behavior.
• Sharing Data: This data is shared with the central processing system through wired or wireless connectivity technologies, depending on your system size or business needs.  
• Taking Action: The system analyzes the data and makes relevant data-backed decisions, which can include either performing required tasks using actuators or notifying the relevant parties. 

An IoT network depends on multiple technologies to function effectively. Let’s take a quick look at what they are and what they do. 

• Sensors and Actuators: The former are the devices that collect and share real-world data, while the latter take the required action. Together, they automate processes and remove the need for human intervention.
• Connectivity Technologies: To quickly share information, the devices need to be connected to either a wireless or wired connectivity system. This can include Bluetooth, cellular networks, Zigbee, or WiFi. If you’re looking for a reliable and high-speed internet plan, I’d suggest Cox internet. They offer bilingual assistance, so you can also reach out to the Cox Servicio al Cliente en español if you prefer. 
• Cloud Computing Platforms: IoT devices will need a central platform to store, process, and analyze a huge amount of data. Cloud platforms are a cost-effective way to achieve that. These platforms also extract and provide real-time actionable insights to allow data-driven business decisions. 

Now, let’s take a look at the other player in the game, artificial intelligence. 

What is Artificial Intelligence?

Artificial Intelligence is a type of technology that allows systems and devices to learn, adapt, and act in a way that humans would in similar situations. The technology uses advanced algorithms and models to equip systems and devices to mimic human critical thinking, problem-solving, and decision-making. 

Today, there are more branches of AI than there are hairs on my head, and they can help businesses greatly. When it comes to IoT, the ones below hold the most potential. 

• Machine Learning: The branch of AI that allows systems and devices to learn, act independently, and improve over time using data.
• Deep Learning: A subset of machine learning that uses neural networks to enable decision-making skills that resemble the human brain. 
• Reinforcement Learning: Another subset of machine learning that allows machines to make decisions based on analyzing the environment. 

Now that we know how both these technologies function, let’s explore the benefits their combined power can bring for businesses. 

Benefits of AIoT for Businesses

The fusion of AI into IoT allows businesses a range of benefits. Let’s explore some of the major ones:

• Predictive Maintenance: AI can analyze the data collected by IoT devices and predict when maintenance is required for a specific machine. This can ensure the continuity of operations and help save a significant amount. 
• Enhanced Efficiency: AIoT can act independently and automate processes, adding a higher level of productivity and efficiency. 
• Data Backed Decisions: AI can speed up the processing and analysis of data that IoT devices collect, assess potential threats, and offer relevant actionable insights that can be used to prevent unfavorable situations. 
• Enhanced Safety Measures: AI can use its predictive analysis to assess potentially negative outcomes and automate necessary preventive or safety measures. 
• Increased Personalization: The large amount of customer data allows AI to deliver on the needs, preferences, and expectations of customers.  

While the benefits are revolutionary, there are unfortunately some challenges that arise with using AI in IoT systems. They will be explored next. 

Challenges of Implementing AIoT

There are a few challenges that businesses must address to safely, efficiently, and conveniently utilize the combined power of AI and IoT. Let’s take a look at some of the most pressing concerns.

• Data Storage and Management: IoT devices will collect and generate large amounts of data that AI needs to access to improve its own performance and help businesses. This data must be stored in a way that is easily accessible for AI and scalable. 
• Data Security: The data collected by IoT devices is very sensitive for business operations and customer security. Cyberattacks on the rise make it important for companies to invest in robust security solutions. This can be tougher for Hispanic businesses, who may already be on a budget. 
• Successful Integration: IoT devices may have different requirements for successfully integrating with an AI system. If not carefully considered, this can result in integration issues, which can limit the power of both. 
• Costs: the price of IoT devices and the electrical and computational power that both these devices and AI systems need, which can significantly drive up costs for businesses. This can impact the continuity of small to medium-sized Hispanic businesses. 

The Future of AIoT in Business

Despite the challenges, AIoT holds promising opportunities for Hispanic businesses, from risk planning and prevention to increased efficiency and productivity.

As technologies like 6G dawn closer, the power of these technologies can become easier for businesses everywhere to implement.

With the combined power of these technologies implemented in their business operations, Hispanic businesses can equip themselves with a competitive advantage.