The story of the journey of data in the 21st century has been eventful. First, data made the shift from on-premise data centers to the cloud. Now, it is moving towards ‘edge’ points located close to the source of data generation. The dual foundations of Edge AI lie in Edge computing and Artificial Intelligence, two innovative technology trends that have taken the world of business by storm.
Edge computing brings processing, computation, and storage of data closer to where it is generated and collected instead of relying on moving it to a remote location such as a cloud. Edge computing reduces the dependency on bandwidth and curbs long-distance communication between servers and clients. Goodbye latency.
That’s a strong value proposition in itself. Now imagine combining that with the power of AI.
In this article, we will discuss the nitty-gritty of Edge AI and why it can become important for modern enterprises.
What is Edge AI?
Edge AI combines the goodness of Edge computing with Artificial Intelligence. With Edge AI, AI algorithms are locally executed on a, usually remote, hardware device using the data acquired from Edge computing. This device consists of a microprocessor and sensors. Since the data is obtained and processed without using any internet connection, the process happens in real-time and at the exact spot where it can have the most impact.
Edge AI helps in replacing the conventional processing residing on cloud-based data centers that demand heavy computing capacity by making it a part of the AI workflow on a local device.
Edge AI facilitates real-time operations and reduces power consumption as well as data costs since the device doesn’t need to be connected to the internet at all times.
While Edge AI is transforming the way IoT devices deliver value, it is also creating a monumental difference in the way enterprises do business. According to a report by Markets and Markets, the global Edge AI software market size is expected to grow to USD 1152 million in 2023.
As enterprises surge towards embracing ever-more contemporary digital technologies, entwining Edge and AI promises many benefits.
Let’s discuss why enterprises should be caring about Edge AI if they aren’t already.
Why Enterprises Should Care About Adopting Edge AI?
- Predictive Maintenance:
To ensure streamlined operations, consistent equipment performance, and reduced cost of repairs, predictive maintenance is extremely critical for enterprises. Today, businesses are investing heavily in digital technologies that help them identify loopholes and failures before they happen, and Edge AI enables this. Edge AI makes use of AI devices and sensors to detect anomalies, without depending on connection-based responses, helping to quickly respond and fix errors.
- Increased Customer Engagement:
Today’s customers seek bespoke product experiences that also offer personalization. Every app, website, product or business needs to be engaging enough for the customers to really hit the target. With Edge AI, connecting with customers in real-time is possible. Anything and everything they need is available in an instant, thanks to Edge AI (think smart assistants and offline apps). Edge AI curbs the problem of low latency. To the enterprise, it provides real-time insights that can further help in providing enhanced user experience.
- Improved Data Analysis and Processing:
In comparison to the centralized IoT platforms, processes powered by Edge AI enable faster data processing. With Edge AI, the analysis and processing of data is done in milliseconds since it doesn’t have to depend on an off-site cloud location. This improves the speed of response and automates decision-making.
- Greater Security and Privacy:
Security and privacy are key concerns for enterprises and Edge AI helps in addressing those challenges. Edge AI-powered systems can trigger alerts in real-time based on behavioral analysis, help to detect phishing attacks, drive password protection and authentication, and examine network traffic patterns to protect corporate networks. Here’s a great resource to dip into for more on How AI Can Help Combat Security Challenges?
According to a report by Tactica, the shipment of AI edge devices is expected to grow up to 2.6 billion units by 2025. Several research reports show that AI is becoming more mainstream. As both these technologies mature, Edge AI looks set to enter diverse industries through an array of use-cases.This is the time for visionary enterprises to get serious if they want to be at the vanguard of an exciting new movement!