Abstract
As latest advancements signify the fourth industrial revolution, artificial intelligence (AI) and internet of things (IoT) became the focal points for innovators. IoT-enabled technology can be used to gather and explore huge amounts of data from both virtual and physical environments, and AI provides the means for effectively processing and manipulating resulting information to optimize or automate processes. In this chapter, the related state of the art is presented, along with the characteristics that enable the creation of hybrid innovation ecosystems. An overview of IoT and AI platforms is included, which can be utilized even by non-experts to compose advanced cost-effective services. Also, related notions such as interoperability and engagement are also discussed. Although such components can be applied in a multitude of domains, to provide a concrete example of innovation enablement, the smart grid ecosystem is employed. Here, participants, either from the supply or the demand side, take advantage of IoT and AI technology to address new business requirements that arise.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
