“2024 Predictions: How IoT and AI Will Reshape Business and Drive Efficiency”

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Parlacom Brazil and its parent company, LeadingQuest in the USA, are closely working with major players and solutions providers, already offering advanced IoT services that incorporate AI and ML tools.

The future of business is being reshaped by the rapid advancements in IoT and AI technologies. With a predicted market value of $1.5 billion by 2032, organizations must start investing in IoT connectivity at scale to stay ahead of the competition. In this article, we will discuss some key predictions for IoT and AI in the year 2024, and how businesses can prepare for their adoption.

One major trend we can expect to see in 2024 is the increased use of third-party telemetry IoT data. Companies like Project 44 and FourKites are already aggregating data from various sensors, competitors, and location services to provide customers with a data-driven control center for operational guidance and visibility. This trend will continue to grow as more platform plays emerge, offering more accurate insights by triangulating data from multiple sources.

Another important aspect of IoT in 2024 will be the adoption of generative AI. This goes beyond connectivity and real-time data collection, allowing people to have full conversations with machines. This will have a significant impact on industries like food service, where IoT-enabled traceability will become crucial in preparation for FSMA 204, which will be implemented in 2026. This will also lead to a greater adoption of blockchain technology for enhanced traceability across the value chain.

In the world of AI, we will see a shift from hype to practicality with the evolution of GenAI. This will lead to the integration of mathematical models with real AI for advanced forecasting, optimization, and pricing. More companies, especially in retail, CPG, and healthcare, will start developing their own AI capabilities, rather than relying on off-the-shelf options, to gain a competitive edge.

In conclusion, as businesses look towards the future, IoT and AI will continue to play a significant role in shaping industries and driving efficiency. By staying up-to-date with these predictions and investing in IoT connectivity and AI capabilities, organizations can position themselves for success in the ever-evolving landscape of technology.

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