With more than 4 billion internet users worldwide today and 31 billion connected devices forecasted by 2020, the future of the digital world lies in how people and “things” will interact with each other. The key to this will be the convergence and consolidation of internet of things platforms and devices which will be able to seamlessly exchange data between people, networks, devices and applications.

Creating this world, where multiple service and technology layers work harmoniously to create ubiquitous, ultra-connected experiences, is a task that will take years to complete. It requires a robust technology platform, powered by artificial intelligence.

Today, we are siloed in how we think about IoT. We develop solutions for the sake of technology and continue to think in small incremental steps about the data we are collecting. It’s relatively easy and cheap to deploy a connected sensor and collect data, but it’s the easy way out and everyone is doing it.

The industry is missing a critical link: the marketplace for IoT to use the data collectively and build an ecosystem for distributed monetization of data. This is where AI comes in.

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