2024STATE OFEDGE AIREPORTExploring the dynamicworld of Edge AI applicationsacross industries
How this reportcame togetherThis technology report came tofruition thanks to the collaborativeefforts of multiple contributors.Samir Jaber, the editor-in-chief,alongside John Soldatos and RaviRao, the supporting authors, haveplayed integral roles in researching,developing, and editing the reportcontent. The insights provided byour sponsors and contributors havesignificantly enriched the content.Special acknowledgment goes toJessica Miley, the content director atWevolver, for her consistent supportand leadership throughout theprocess. Each contributor’s dedicationand input are deeply valued,highlighting the collective effort thathas gone into creating this report.
7Introduction
In the midst of all the technologicaladvancements happening today, oneterm has taken over almost everydiscourse about technology: artificialintelligence (AI). Once a thrillingnotion for Sci-Fi movies, AI is nowan indisputable reality, and it hastaken multiple industries by storm.From Large Language Models (LLMs)enabling fantastic chatbots likeChatGPT to Internet-of-Things (IoT)devices bringing about Industry 4.0,AI has found applications and usecases across almost every modernindustry. While the majority of AIimplementations have taken placecentrally on cloud servers, there hasbeen a strong pursuit for intelligenceto be deployed locally at the edge.Artificial intelligence at the edge isreferred to as Edge AI, and it is theconvergence of AI model deploymentwith edge computing. By bringingcomputational power closer to thedata source, Edge AI offers real-timedata processing on edge devices withreduced latency, higher bandwidthefficiency, enhanced reliability, andmore robust security and privacy.This has the potential to propelAI capabilities beyond its currentcentralized, cloud-based structure.As the adoption of Edge AI continuesto grow almost exponentially, wewill witness a paradigm shift inhow businesses deploy and utilizeAI, especially with edge computingdecentralizing data processing.Industries that require real-timedata processing capabilities arethe primary industries in Edge AI’sscope of impact and are expected toexperience a radical transformationas a result. Embracing this dramaticshift is essential for businesses thatseek to stay ahead of the competitionand leverage the benefits of real-time, context-aware decision-making.But knowing that Edge AI impactsevery industry differently, how can abusiness in a specific industry embracethis technology to ensure it keepspace with its rapid evolution?Accordingly, Wevolver has partneredwith several major companies andthought leaders in this space toproduce this holistic report on thestate of Edge AI in 2024 and itsapplications in every relevant industry,from healthcare to industrial IoTand manufacturing, smart cities,retail, energy, agriculture, andautomotive. Each industry is coveredby a dedicated chapter that providesindustry-specific insights, descriptions,and examples, complemented byfeatured sections of real-world casestudies. The report also provides apeek into the exciting generative AItechnology and its convergence withedge computing before delving intothe challenges still hindering Edge AItoday. Finally, it gives a glimpse intothe future of Edge AI and how it willdevelop in the years to come.This is the second in-depth report onEdge AI by Wevolver after its inauguralreport in 2023, which focusedprimarily on the technological side ofEdge AI. This report explores Edge AI’sapplication side and its impact on thevarious industries mentioned above.Will Edge AI be one of the world’sfundamental technologies goingforward? Will it continue to reshapeour industries and become ubiquitous?If so, how? Let’s find the answers inthe chapters below.Samir JaberEditor-in-Chief
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