ONE Tech is an AI-driven technology company that designs, develops and deploys next-generation IoT solutions for OEMs, network operators and enterprises.
We were fortunate to have Yasser Khan the CEO of ONE Tech share his predictions for 2021:
ONE Tech CEO, Yasser Khan
Prediction #1: Data (finally) becomes king.
Details: 2021 will be the year that the industry realizes that IoT is merely a vehicle for data. It’s how organizations utilize the data to generate new revenue streams or increase customer satisfaction that is the true driving force behind connecting billions of assets. Furthermore, AI will no longer be tied to data centers. High-cost, powerful compute resources are simply not needed to generate the insight required for organizations to realize the value of their assets’ data.
Prediction #2: Automation will change business models.
Details: With the ability to gather and process more AI data locally, traditional companies such as auto dealers will turn even more service-focused because they will be able to predict service repairs before they happen. For example, if sensors detect a tire is going lower than the acceptable range in a fleet vehicle, it can alert managers to send a service truck—with the correct parts—to the truck’s location before a bigger issue happens. And with consumer durable goods, a sensor on a dishwasher can alert the service repairman that there is an issue before the dishwasher goes out of service. In these scenarios, OEMs and companies can significantly grow the services part of their businesses, changing their business model to one that is less dependent on hardware.
Prediction #3: Endpoint devices will become increasingly smarter.
Details: Through machine learning and artificial intelligence (#AI), network intelligence is moving closer to the edge, giving endpoint devices new roles and tasks that make them smarter. With compute power delivered by low-cost hardware, powerful intelligence can now be achieved through machine learning algorithms that can live (train and process) directly at the data’s originating source. In addition, hardware capabilities are ever evolving along with the software living on the hardware. The industrial sector is already benefiting from the efficiency gains of processing data locally to understand what’s happening to these machines and devices. Other markets need to shift and adapt to local data processing or specifically machine learning on the endpoint as it will be essential in helping organizations scale.
Prediction #4: Cloud data transmission costs will increase dramatically.
Details: The cost of transmitting, storing and processing data in cloud environments is a growing pain point for organizations of all sizes. In 2021, Edge AI will mature from innovation projects to an industry standard. Bringing edge and embedded AI to the endpoint for processing data locally eliminates the cost pain point. The bottom line: If businesses aren’t doing innovative things to derive more value generated from their data to keep pace with expenditure, they’re just going backwards.
Prediction #5: Predictive maintenance will top manufacturing pain points in 2021.
Details: Semiconductors and chips use simple decision trees that can grow to become complex. Shifting from a decision tree-based process to a predictive algorithm is the next step for intelligence at the edge. Manufacturers are in the business of producing items. They are not in the business of technology and data management. As data grows in volume, there is an ever-increasing need to make sense of the data and act upon the insights to remain as efficient and productive as possible. To do that, manufacturers need to rely on technology to help them realize the value of the data they are generating. This will come from deploying local/Edge AI for processing data locally, for producing insight-rich output. The outputs from Edge AI solutioning will ultimately automate response and action to allow for less dependency on human interaction and more so on automated corrective action.
Interview: You can also read an interview with Yasser Khan.