How does edge computing differ from cloud-based computing in IoT systems? Group of answer choicesEdge is more expensive than cloud-basedEdge processes data on IoT devices or gateways, while cloud-based processes data in remote serversEdge relies on AI algorithms, while cloud-based uses traditional statistical methodsEdge provides more insights than cloud-based analytics

Edge computing and cloud-based computing in IoT systems differ primarily in where data processing occurs.

1. Edge computing processes data on IoT devices or gateways. This means that the data is processed at the source where it is generated. This can reduce latency, as the data doesn't have to travel to a remote server to be processed. It can also reduce the amount of data that needs to be transmitted, which can be beneficial in situations where bandwidth is limited.

2. On the other hand, cloud-based computing processes data in remote servers. This means that the data is sent from the IoT device to the cloud, where it is processed. This can provide more computational power and storage capacity than might be available on the IoT device itself. However, it can also introduce latency, as the data has to travel to the cloud and back.

The other options you provided are not necessarily accurate. The cost of edge versus cloud-based computing can depend on a variety of factors, and both can use AI algorithms or traditional statistical methods. Similarly, whether edge or cloud-based analytics provides more insights can depend on the specific use case and implementation.