As Artificial Intelligence (AI) is considered and trialed across a variety of industry sectors, it is hoped that its implementation in the future could improve production, cut waste and even reduce the number of paid employees for businesses. With this in mind, this month we are taking a look at a variety of industries where AI technology could make an influence. The Construction industry – The construction industry is well-known for being'under-digitalised'. It is hoped that a combination the construction industry will adopt a combination of AI and 3D printing technology to automate many processes and cut down on wasted materials whilst aligning to new environmental standards. Comprehensive databases will be able to monitor stock and even schedule projects according to the weather, whilst self-operating and self-driving machinery are already being trialed to take on repetitive manual tasks to free up employees.
There is no question that the rise of AI (Artificial Intelligence) is gaining strength as industries across the globe look towards the revolutionary technology to change how work and with the introduction of the new 5G network. Transcending into all industry sectors from Manufacturing and Engineering to Retail and Wholesale, the rise of AI could ignite the biggest shake up on industry sectors and job reform since the introduction of the desktop computer. It is anticipated that the rise of AI is set to replace some methods of working whilst it is estimated that it could create 133 million jobs globally. Explaining the preconceptions of AI and its future, Microsoft believes that every company will be an AI company in the next 5 years; however, due to concerns that people do not fully understand the technology and therefore could be left behind. In the last 12 months Microsoft have set up a pilot AI business school here in the UK to focus on education, discussion and R&D so that they may deliver AI skills development to individuals and business.
The Blockchain market is forecast to grow in a 61.5% Compound Annual Growth Rate (CAGR) between 2016 and 2021, developing from $.2B to $2.3B in 2021. The largest segments are in the company and financial services and technologies, telecom and media. The biggest protocols comprise Bitcoin, Ethereum, and Ripple. Deloitte discovered that banks have allegedly stored between $8B to12B annually with blockchain technology to enhance operational efficiencies. The Artificial Intelligence (AI) market is predicted to rise from $8B in 2016 to $72B from 2021, reaching a 55.1 percent CAGR.
Tilly Lockey was a baby when she lost both hands after developing meningitis. Almost a decade later, Tilly made headlines when she received new hands created with a 3D printer, as the world's first clinical trial of a new type of prosthesis gathered speed within the NHS in Bristol. Tilly's hands, based on Disney characters, took just one day to make. The lightweight design by Open Bionics, a UK firm, uses a 3D printer to create the hand in four separate parts, custom-built to fit the patient using scans of their body. Sensors attached to the skin detect muscle movements, which are used to control the hand and open and close the fingers.
The 3D printing industry in South Korea has just received a significant boost, with the announcement of a new state initiative. The government has released details of an evaluation and compensation system soon to be established in the medical device industry, which will provide particular incentives for the use of newer, innovative technologies. Medical devices that make use of 3D printing, as well as artificial intelligence and robotics, will be evaluated more effectively and partially funded by the new government scheme. In 2016 South Korea's 3D printing industry was worth around $75 million, under 2 percent of the global 3D printing market, and increasing its 3D printing footprint has been a priority of the South Korean government for a number of years now. We reported before on efforts to improve use and development of 3D printing in the country, with initial discussions around the easing of regulations and various tax breaks starting last year.