New Group Looks to Set Standards for GenAIoT

Published: March 27, 2024

Key stakeholders from the The IoT Community are coming together to realize the full potential of the Generative Artificial Intelligence (GenAI) and the Internet of Things (IoT) industries.

A consortium of companies are collaborating to create a unified approach to IoT and GenAI expansion. The mission of the groups at their new website,, is to provide a platform for collaboration, communication, and resource sharing among those in the AI and IoT spaces. Members plan to define, promote and develop of practices, standards, and guidelines for GenAIoT. Founding members include SAS, SoftServe, Intellias, and ClearBlade.

GenAIoT is being billed as a first-of-a-kind industry dynamic fusing GenAI and AIoT to collect a vast amount of data through IoT. This data is then analyzed and interpreted using Gen AI programs, communicated to another machine or a user as part of an IoT network, providing valuable insights that can be used to solve problems more efficiently. This approach allows for faster problem-solving than ever before, organizers say.

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GenAIoT Purpose and Objectives

Members of the IoT Community, comprising over 49,000 IoT practitioner, recently attended MWC 2024 in Barcelona. Executives met with existing members and other senior officials to identify opportunities in this new domain. They estimated that the market could be worth as much as $4.5 trillion in economic and business value.

The main objective is to promote the development and implementation of practical solutions that utilize GenAIoT technologies to address real-world issues. The website plans to raise awareness and educate both industry professionals and the general public about the advantages and risks associated with GenAIoT, as well as advocating for policies that support the growth and advancement of this field.

David Hill, executive director of IoT Community and a co-founder of GenAIoT, offered that AI is already changing our daily lives and opened up a world of new opportunities.

“By collaborating with existing IoT Community ecosystem partners…and founding members of GenAIoT, we are aiming to create real-world solutions that fully realize the potential of AI for everyone, at scale,” said Hill in a statement announcing the website’s launch.

Over 20 Subject Areas

GenAIoT will initially focus on foundation models and topics in over 20 subject areas, including natural language processing, Edge Computing, Cloud/Edge Native Integration, Industrial Design, Simulation Tools and AI Model Development

Tom Bradicich, IoT Community Board of Advisors chair, called AI a new catalyst for innovation, and said its convergence with the IoT untaps dramatic business and societal benefits.

”The IoT Community is best suited to step up to this potent convergence by launching a new initiative,” said Bradicich. “This new dimension of our community is designed to enable and serve the practitioners and end users of generative AI, AI analytics, AI controls, within the IoT.”

Data Uses

The primary objective of GenAIoT is to merge large language models with enterprise data to offer contextualized intelligence that helps users enhance their creativity, productivity and skills in real-time, helping to solve mission critical problems.

“There’s a massive chasm in IoT between scalable, flexible IoT software and the operators that need to easily access, monitor, and control assets to improve safety, sustainability, and efficiency. Gen AI will close that gap, enabling operators to control assets using everyday language,” said ClearBlade Founder and CEO Eric Simone.

Economic Boom

As the group notes, there is big money to be made from these industries.

The launch comes as estimates are predicting GenAI will unlock up to $1.3-$1.5 trillion in economic and business value, according to the group. IoT, which includes traditional IoT ($1.4 trillion) and AIoT ($600 billion), is seen as a $2 trillion opportunity.

When combined via GenAIoT and vertically applied across industry sectors such as manufacturing, supply chain, customer service, and new emerging subsets, the organization believes another $1.2 trillion in economic value could be unlocked.