Artificial intelligence software revenue to reach $59.8 billion by 2025 - The Next Silicon Valley

Vast amounts of data, faster processing power, and increasingly smarter algorithms are powering artificial intelligence (AI) applications and use cases across consumer, enterprise, and government markets around the world, enabling machines to speak, listen, move, and make decisions in unprecedented ways. According to a new report from Tractica, as AI technologies and deployments sweep through virtually every industry, a wide range of use cases are beginning to illustrate the potential business opportunities, attract investment, and inspire changes to existing business processes while pointing the way toward new business models. Its analysis indicates that annual revenue generated from implementations of AI software will increase from $1.4 billion in 2016 to $59.8 billion by 2025. The revenue potential for AI use cases covers a broad spectrum, from a handful of high-potential applications at the top that will represent a sizable portion of the overall market, to a'long tail' of smaller use cases that will serve a wide variety of tactical purposes in niche markets. "The opportunity for AI spans 29 industries across geographies and is particularly disruptive in highly domain-specific markets with high-volume data needs and ontologies, as well as those with growing applications for machine perception," says principal analyst at Tractica, Jessica Groopman.