Mark Lippett, CEO of Artificial Intelligence of Things microchip company XMOS, writes in Forbes that home automation technology is anticipated to increase its value to $75.3 billion by 2025. He said smart speakers have driven this growth, with approximately 320 million smart speakers in homes around the world as of 2020, which could double by 2024. However, he said current Internet of Things smart home technologies do not adequately provide privacy for homeowners. The solution, he said, was the development of AIoT systems where smart home technology processes data within its own home setting, instead of devices sending their data to a cloud.
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