IDC recently released a report, "IDC FutureScape: Worldwide Manufacturing Predictions 2018," surveying the global manufacturing landscape. When creating its predictions the firm examined ecosystems and experiences, greater intelligence in operational assets and processes, data capitalization, the convergence of information technology (IT) and operations. Most of the group's predictions refer to a continuum of change and digital transformation (DX) within the wider ecosystem of the manufacturing industry and global economy.
Looking back, we can see the value these emerging innovations offered, but in the moment, their promise seemed less clear. It is, therefore, remarkable how quickly organizations across sectors and regions navigated through the so what and into the now what for these trends and went on to successfully traverse the new digital landscape. This journey from uncertainty to digital transformation informs our latest offering, Tech Trends 2019: Beyond the digital frontier. A persistent theme of every Tech Trends report has been the increasing, often mind-bending velocity of change. A decade ago many companies could achieve competitive advantage by embracing innovations and trends that were already underway. Today, this kind of reactive approach is no longer enough. To stay ahead of the game, companies must work methodically to sense new innovations and possibilities, make sense of their ambitions for tomorrow, and find the confidence to boldly go beyond the digital frontier. So here's to the next decade of opportunity, whatever it may be. Along the way, embrace that queasy feeling of uncertainty.
The global artificial intelligence in supply chain market is expected to grow at a CAGR of 45.3% from 2019 to reach $21.8 billion by 2027; wherein, Asia-Pacific region is expected to register fastest CAGR throughout the forecast period. Artificial intelligence has emerged as the most potent technologies over the past few years, that is transitioning the landscape of almost all industry verticals. Although enterprise applications based on AI and machine learning (ML) are still in the nascent stages of development, they are gradually beginning to drive innovation strategies of the business. In the supply chain and logistics industry, artificial intelligence is gaining rapid traction among industry stakeholders. Players operating in the supply chain and logistics industry are increasingly realizing the potential of AI to solve the complexities of running a global logistics network.
Technology is leading a new wave of disruption in our society. While powerful governments are worried about the potential implications of "intelligent" systems and robots displacing jobs, we're seeing more examples of such systems enabling business transformations. Intelligent Empowerment is a shift that brings together the best of both worlds: augmenting human intelligence with machine intelligence through the use of data and techniques such as Optimization, Artificial Intelligence, and Machine Learning. The market opportunity is real, with reports of AI being a 15 billion dollar industry, projected to rise to over 70 billion by 2020. IBM alone is investing 3 billion dollars to bring their Cognitive Computing to the Internet of Things (IoT).
By some estimates, the world generates 2.5 quintillion bytes of data every day. Yet only a sliver of that volume, much of it residing on enterprise servers, is fully leveraged to drive a deep understanding of the enterprise and how to improve it. What value lies untapped within all that data? As business leaders grapple with these questions, they rely increasingly on emerging cognitive technologies like artificial intelligence, machine learning and blockchain. When these technologies are coupled with cloud-based multi-enterprise networks, thought-leading companies are able to unearth, analyze and act upon critical insights across business lines and foster the emergence of intelligent enterprises.