In November 2023, Humane, a groundbreaking technology startup, unveiled its latest innovation – Pin, a wearable device that may signal the dawn of a smartphone-less era. This compact gadget, worn over clothing, projects holographic text and monochromatic images onto the user’s hand using a laser projection system powered by OpenAI’s ChatGPT. With no traditional screen, Pin relies predominantly on voice commands, presenting a potential shift in the landscape of natural computing.
The wearable market is experiencing a surge in AI integration, as indicated by Acumen Research. The AI wearable market, valued at $24.4 billion in 2022, is anticipated to achieve a remarkable annual compound growth rate of 26.7 percent from 2023 to 2032, reaching a staggering $252.4 billion.
This growth is fueled by consumer demand for comprehensive devices that extend beyond connectivity, offering features like health monitoring, real-time data analysis, and personalized user experiences. As smartwatches, AR glasses, and fitness trackers evolve, the integration of AI is becoming increasingly prevalent.
Imran Chaudhri, the co-founder and President of Humane, dismisses the idea of headsets dominating the future, emphasizing that “the future is not on your face.” So, where is the future heading?
According to Acumen Research, the primary driver for this phenomenal growth is the escalating adoption of the Internet of Things (IoT). Machine Learning and Conversational Artificial Intelligence, integral to IoT, enable efficient data gathering, analysis, and user interaction in natural language. Advancements in sensors, batteries, and materials further propel this trend, acting as key catalysts for the market’s expansion.
However, challenges loom on the horizon. Data privacy concerns and regulatory efforts to manage AI are significant obstacles. Additionally, the high cost of AI wearables restricts the market to early adopters and technology enthusiasts. Limited battery life compounds these challenges, demanding innovative solutions.
Looking ahead, the burgeoning industry holds immense potential, particularly in healthcare, where demand for user-friendly remote monitoring systems and disease prevention applications is on the rise. The industrial sector is also poised for transformation, leveraging AI for enhanced productivity and safety through automated services and hardware.
The integration of 5G and AI promises to elevate these wearables further, enabling faster network speeds, enhanced data processing, and seamless connectivity with other devices. The future of AI wearables appears bright, offering a multitude of opportunities for both established companies and startups alike.
