Thanks to its quicker speed and more connections, the Internet of Things, or IoT, is improving machine-based intelligence and connectivity in a variety of applications. It has affected the healthcare industry immensely.
2023 IoT issues and developments
In 2023, the COVID-19 pandemic eliminated supply chain difficulties, sparking a global push to extend chip supply networks. Still, inventory reduction and rising chip costs led to a negative year. Data-driven applications and the rising need for AI are predicted to drive up semiconductor demand in 2024. Machine Learning and natural language processing will become important upcoming technologies.
IoT and AI reasons for growth in 2024 and beyond are:
1. Increased AI support for IoT
According to the IEEE poll, AI will be utilized in 2024 to identify cybersecurity vulnerabilities in real-time, boost supply chain and warehouse automation, expedite software development, and automate customer support. This will necessitate substantial expenditures in IoT technology for product identification, handling, and development. IoT-enabled factories can pair monitoring and local intelligence with robots and automation to take over tasks that would otherwise need human labour. Humans’ particular talents may be merged with machine intelligence to build safer and more efficient industries, thus increasing total efficiency.
2. Increased connection for IoT devices
The quick adoption of 4G/5G wireless networks in place of 2G and 3G networks will make it easier for expansion. This will mostly improve connections in metropolitan areas, while many rural regions will continue to rely on less efficient networks. Although satellite networks for communication can help, they have limited bandwidth and may be pricey. The discrepancy in available bandwidth for communication will further widen the digital gap between wealthier urban areas and poorer rural areas.
3. New technological advancements
IoT is expected to grow significantly in 2024 and beyond, owing to new technological advances. These include advancements in computer design, storage and memory techniques, and chiplet packaging technologies. These improvements will affect data storage and processing at data centres and network edges, resulting in reduced data flow and lower power consumption. To add to it, the transformation from volatile to non-volatile memory will allow IoT endpoint devices with greater memory to analyze data with less power consumption. These fundamental changes might have an important impact on future IoT apps.
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4. System disaggregation allows for more efficient data processing.
The division of traditional data center servers and the creation of virtual computing systems allow for more efficient data processing, lower power consumption, and more sustainable computing. The majority of the data handled in data centres comes from apps for the Internet of Things, and as IoT expands, so will the processing. The use of non-volatile memory express (NVMe) and Compute Express Link (CXL) reduces the cost of IoT apps.
5. Latest Chip Design and Specifications
The use of chiplets in standard semiconductor device design is changing the way CPU operations are divided into smaller, faster interconnects. In 2022, the Universal Chiplet Interconnect Express (UCIe) standard was established, allowing specialized chips from several manufacturers to be coupled in a small container. This led to improved semiconductor devices for data centers, network edges, and IoT endpoints.
6. New non-volatile or permanent memory technology for IoT
Lower pricing for semiconductors such as DRAM and NAND flash, together with increased density, will lower costs and improve IoT device capabilities. Emerging non-volatile or permanent memory technologies, including magnetic RAM (MRAM) and resistive RAM (RRAM), are also being employed in IoT devices, especially for code storage at 28 nm. Replacing static RAM with non-volatile memory, such as MRAM, enables lower-power states, which benefits energy-constrained applications such as wearables.
Conclusion
The future of technology is full of possibilities, fueled by invention, cooperation, and a never-ending pursuit of advancement. As we embrace these rising tech developments in 2024 and beyond, it is critical to be mindful of the ethical, social, and economic ramifications of technology breakthroughs. By wisely leveraging the power of technology, we can ensure an increasingly inclusive, sustainable, and affluent future for future generations.
