This report looks at the artificial intelligence (AI) industry worldwide. Artificial intelligence is an emerging industry whose applications are employed in a range of traditional industries, from industrial manufacturing, consumer goods, aviation, transportation, and healthcare. The report talks about the overall market size, expected growth rates as well current trends driving the growth in the industry.
Report Summary
Artificial Intelligence is the next force of digital disruption. It refers to systems or machines that can work or react like humans. AI includes multiple technologies, the most prominent among them are machine learning, deep learning and natural language processing (NLP).
Early evidence points to the fact that AI can deliver real value to end users and can be a serious force of disruption. It is already being used across multiple industries including retail, healthcare, manufacturing, defense, education. It is anticipated that the impact of AI will grow significantly over the next five years as it become more mature and easily deployable commercially.
The investments in AI by organizations are rapidly growing. Companies such as Google, Facebook, Amazon are making massive investments in the field. The number of startups emerging in the field of AI has been rising as well. In lieu of that, VC, private equity and seed funding in the sector has witnessed robust growth over the last few years. Machine learning, as an enabling technology, received the largest share of both internal and external investment.
New AI technologies such as deep learning is surpassing the limits of previous machine learning. Though, machine learning has been attracting largest share of investment till now, it is likely that deep learning will take over going forward. Machine learning algorithms need to be trained by feeding large sets of data to them. This requires some form of human intervention and are therefore prone to human biases. However, deep learning, which uses artificial neural network to make decisions does not need any human training and are capable of learning on their own.
Methodology
To create our reports, research analysts draw on a range of primary and secondary data and information sources to form the basis of analysis. Primary sources include data provided by government, international organizations, industry associations, companies operating in the industry and reported fundamental data. Secondary sources include credible industry publications and private research organizations.
