Dive Brief:
- Two European companies have signed on to harness IBM Watson's capabilities with IoT technology and data analytics.
- Finland-based KONE plans to use Watson and IBM's IoT platform to "connect, monitor and optimize" the company's worldwide network of elevators, escalators, doors and turnstiles, according to a ZDNet report.
- Also from Finland, the country's main electricity grid operator will connect Watson to a network of sensors to improve cost efficiency and improve daily management, maintenance and safety of the grid.
Dive Insight:
Companies are also looking to improve efficiency, turning to big data analytics to help streamline their approach to business. Watson became known for its Jeopardy talents and has even helped a company craft a beer that captures the essence of the new year. But with its advanced cognitive computing power, IBM wants to gain additional clients and make Watson's offerings a more profitable endeavor, creating a market for big data analytics and AI services.
Companies including IBM and Cisco have been making huge investments in IoT recently. Earlier this month, Cisco announced it would acquire Jasper Technologies, which provides an IoT platform that can connect devices like cars, wearable technology and medical devices. Gartner predicts there will be 25 billion or more IoT devices connected to the Internet by 2020.
