2024 State of Edge AI Report

We are thrilled to share the 2024 State of Edge AI Report with you. 

This report represents months of hard work, research, and dedication to exploring the dynamic world of Edge AI applications across industries.

Report Highlights:

• #1: Industry-specific insights– Each industry is covered by a dedicated chapter that provides industry-specific insights, descriptions, and examples. ,

• #2: Real-life case studies – Get comprehensive insights from featured sections of real-world case studies. 

• #3: A look into the future - The report also provides a peek into the exciting generative AI technology and its convergence with edge computing before delving into the challenges still hindering Edge AI today.

Download the full report below. 

Report Introduction

In the midst of all the technological advancements happening today, one term has taken over almost every discourse about technology: artificial intelligence (AI). Once a thrilling notion for Sci-Fi movies, AI is now an indisputable reality, and it has taken multiple industries by storm. From Large Language Models (LLMs) enabling fantastic chatbots like ChatGPT to Internet-of-Things (IoT) devices bringing about Industry 4.0, AI has found applications and use cases across almost every modern industry. While the majority of AI implementations have taken place centrally on cloud servers, there has been a strong pursuit for intelligence to be deployed locally at the edge.

Artificial intelligence at the edge is referred to as Edge AI, and it is the convergence of AI model deployment with edge computing. By bringing computational power closer to the data source, Edge AI offers real-time data processing on edge devices with reduced latency, higher bandwidth efficiency, enhanced reliability, and more robust security and privacy. This has the potential to propel AI capabilities beyond its current centralized, cloud-based structure. As the adoption of Edge AI continues to grow almost exponentially, we will witness a paradigm shift in how businesses deploy and utilize AI, especially with edge computing decentralizing data processing.

Industries that require real-time data processing capabilities are the primary industries in Edge AI’s scope of impact and are expected to experience a radical transformation as a result. Embracing this dramatic shift is essential for businesses that seek to stay ahead of the competition and leverage the benefits of real-time, context-aware decision-making. But knowing that Edge AI impacts every industry differently, how can a business in a specific industry embrace this technology to ensure it keeps pace with its rapid evolution?

Accordingly, Wevolver has partnered with several major companies and thought leaders in this space to produce this holistic report on the state of Edge AI in 2024 and its applications in every relevant industry, from healthcare to industrial IoT and manufacturing, smart cities, retail, energy, agriculture, and automotive. Each industry is covered by a dedicated chapter that provides industry-specific insights, descriptions, and examples, complemented by featured sections of real-world case studies. The report also provides a peek into the exciting generative AI technology and its convergence with edge computing before delving into the challenges still hindering Edge AI today. Finally, it gives a glimpse into the future of Edge AI and how it will develop in the years to come.

This is the second in-depth report on Edge AI by Wevolver after its inaugural report in 2023, which focused primarily on the technological side of Edge AI. This report explores Edge AI’s application side and its impact on the various industries mentioned above. Will Edge AI be one of the world’s fundamental technologies going forward? Will it continue to reshape our industries and become ubiquitous? If so, how? Let’s find the answers in the chapters below.

Samir Jaber, Report Editor-in-Chief

About the report

This technology report came to fruition thanks to the collaborative efforts of multiple contributors. Samir Jaber, the editor-in-chief, alongside John Soldatos and Ravi Rao, the supporting authors, have played integral roles in researching, developing, and editing the report content. The insights provided by our sponsors and contributors have significantly enriched the content. Special acknowledgment goes to Jessica Miley, the content director at Wevolver, for her consistent support and leadership throughout the process. Each contributor’s dedication and input are deeply valued, highlighting the collective effort that has gone into creating this report.

About the authors

Samir Jaber

Editor-in-Chief Leipzig, Germany 

Samir Jaber is an editor, writer, and industry expert on technology, science, and engineering topics. He is an online content specialist with an academic background in mechanical engineering, nanotechnology, and scientific research. Samir has comprehensive experience working with major engineering and technology companies as a writer, editor, content manager, and digital marketing consultant. He is a featured author in 30+ industrial magazines with a focus on Artificial Intelligence (AI), the Internet of Things (IoT), 3D printing, Autonomous Vehicles (AV), nanotechnology, materials science, and sustainability. Samir is also an award-winning engineering researcher in the fields of nanofabrication and microfluidics.

John Soldatos

Co-author Athens, Greece 

Honorary Research Fellow at the University of Glasgow John Soldatos holds a Ph.D. in Electrical & Computer Engineering from the National Technical University of Athens (2000) and is currently an Honorary Research Fellow at the University of Glasgow, UK (2014-present). He was Associate Professor and Head of the Internet of Things (IoT) Group at the Athens Information Technology (AIT), Greece (2006–2019), and Adjunct Professor at the Carnegie Mellon University, Pittsburgh, PA (2007–2010). He has significant experience working closely with large multi-national industries (e.g., IBM, INTRACOM, INTRASOFT International) as an R&D consultant and delivery specialist while being a scientific advisor to various high-tech startup enterprises. Dr. Soldatos is an expert in Internet-of- Things (IoT) and Artificial Intelligence (AI) technologies and applications, including IoT/AI applications in smart cities, finance (Finance 4.0), and industry (Industry 4.0). 

Ravi Rao

Co-author Ahmedabad, India 

Ravi is a software engineer at one of the world’s largest IT consulting firms. He works on digital transformation projects that help streamline operations for customers. Ravi’s education in Power Electronics Engineering and his professional experience have equipped him with expertise in electrical, electronics and computer engineering. Ravi has authored two IEEE research papers: one exploring the integration of AI and IoT in irrigation systems and another assessing the implementation of a curriculum to stimulate innovation among engineering students. Additionally, Ravi has earned a patent for a project aimed at enhancing independence for individuals with mobility challenges. Outside work, Ravi is passionate about writing on technology, gadgets, and gaming. He also loves engaging in conversations about the latest advancements in technology.

About the Sponsors

We want to acknowledge the support of our sponsors for their contribution to the State of Edge AI Report. The contributions provided were essential in facilitating the research and findings presented. Our sponsors' engagement reflects their commitment to the ongoing discussions and developments in the field of Edge AI.

Download your copy of the 2024 State of Edge AI Report now. 

This is Wevolver's second in-depth report on Edge AI after its inaugural report in 2023, which focused primarily on the technological side of Edge AI.