The Evaluation of the Impact of IoT and AI: A Comprehensive SWOT Analysis in Economic, Environmental, and Healthcare Fields

Abstract

Recent developments in Artificial Intelligence (AI) and the Internet of Things (IoT) are being used in almost every aspect of the environment, economics, and society. This research aims to present a concise and thorough overview of the developments and future possibilities in the connection between AI technologies and the IOT, as well as its applications in the domains of healthcare, the environment, and the economy. The strengths, weaknesses, opportunities, and threats of AIoT-driven technologies as enablers or impediments to their applications in various fields have been identified through a series of SWOT (Strengths, Weaknesses, Opportunities, and Threats) analyses that follow a thorough review of the body of existing literature. The research identified a number of benefits of using AI in various domains, such as improved monitoring, higher efficiency in repetitive operations, and improved data processing skills. Nevertheless, shortcomings, including the high upfront installation costs and data security issues, were noted. Among the opportunities was AIoT's ability to save expenses and enhance results. Threats, including opposition to technology advancement and moral conundrums surrounding AIoT decision-making procedures, however, were identified as possible obstacles to effective implementation. The complex terrain of AIoT adoption in each of the aforementioned domains is clarified by this research. The promise of AIoT must be fully realized by carefully considering the dangers and vulnerabilities that have been found and aggressively looking for ways to integrate it seamlessly.