Technological Innovations in Artificial Intelligence is on the Rise

The significant advancements made over the last decade in the abilities and cost of parallel computing, algorithms, big data and the transfer to the cloud is expected to bring artificial intelligence (AI) out of laboratories and into the mainstream world. AI is broadly defined as any intelligence demonstrated by machines or software. If a machine is capable of doing more than processing data, for example deriving knowledge from it, and augmenting human decision making, it can be considered as AI. According to data published by Grand View Research, the global artificial intelligence market is projected to reach USD 35.87 billion by 2025, while growing at a CAGR of 57.2 percent. A report by Goldman Sachs emphasized the sweeping changes AI is already causing across a variety of sectors, including advertising (programmatic ad buying), retail (customized recommendations) and investing.