Author: Connected World

When it comes to market growth and unhindered innovation, two factors—interoperability and standardization—are key. The IIoT (industrial Internet of Things) is poised for major growth this decade, and efforts to promote and enable interoperability and standardization within the IIoT umbrella of technologies will only support and enhance this growth. With its release of Sparkplug 3.0, the Eclipse Foundation is taking an important step forward in Sparkplug’s transformation into an official industry standard that will help enable “plug-and-play” IIoT solutions. The IIoT market will reach new heights by the end of this decade. Predictions about exactly how high the market value…

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Insurance companies are very much focused on managing risk. Thus, predictions become very important. With AI (artificial intelligence), insurance companies can assess the energy efficiency of a house or the probabilities that there might be a fire or similar occurrence in a building, as examples. “To take advantage of that solution, you need to change how you are selling insurance,” explains Joshua Gans, professor of strategic management, University of Toronto. “Because what the customers would like is that information so they can de-risk their house and not have to pay insurance premiums.” Here is how artificial intelligence can help in…

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Too often a technician servicing a vehicle needs to travel to a certain location in order to work hand-in-hand with the dealer. The metaverse is set to change all of this. At its core, the metaverse is a simulated digital environment that uses AR (augmented reality) and VR (virtual reality) technologies to create an immersive online experience. Here is how it can help a dealership: Turn a dealership into a life experience center, with digital showrooms, virtual test drives, virtual reality support sales, and more. Heighten productivity and minimize travel for a technician who is servicing a vehicle. Bring transparency…

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