IBM Ranked the Worldwide Market Share Leader in Artificial Intelligence for Third Consecutive Year - Oct 9, 2019

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For a third year in a row, IBM (NYSE: IBM) has been ranked the market share leader in the IDC Market Share: Worldwide Artificial Intelligence Market Shares, 2018: Steady Growth -- POCs Poised to Enter Full-Blown Production (Doc # US45334719, July 2019) report, which ranked companies by global AI revenue in 2018. According to IDC, the worldwide AI market grew 35.6% to $28.1 billion last year as a result of announcements, initiatives and acquisitions. IBM took the lead with 9.2% share of the overall market, as revenue rose to $2.58 billion, 19% higher than the previous year, driven by growth across software, hardware and services. "IBM's recognition in IDC's report demonstrates the strength of our business and our leading position at the forefront of artificial intelligence," said Beth Smith, General Manager, IBM Watson AI. "As the AI market moves from experimentation to production, we're helping businesses integrate AI with their applications to make more accurate predictions, automate decisions and processes, and free up employees' time so they can focus on higher value work." As reported by IDC, IBM has made critical commitments to information architecture with the launch of IBM Cloud Pak for Data, a multicloud data platform that runs on Red Hat OpenShift; announced Watson OpenScale to address bias detection and maintain trust and transparency in AI; and brought to market a line of Watson solutions and services pre-trained to benefit industries and professions, including agriculture, HR, supply chain, automotive and manufacturing.


Cognitive & AI Spending to Surge Past $47Bn in 2020, says IDC

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Widespread adoption of cognitive systems and artificial intelligence across a broad range of industries will drive worldwide revenues from nearly $8.0 billion in 2016 to more than $47 billion in 2020. According to the Worldwide Semiannual Cognitive/Artificial Intelligence Systems Spending Guide from IDC, the market for cognitive/AI solutions will experience a compound annual growth rate of 55.1% over the 2016-2020 forecast period. "Software developers and end user organisations have already begun the process of embedding and deploying cognitive/artificial intelligence into almost every kind of enterprise application or process," said David Schubmehl, research director, Cognitive Systems and Content Analytics at IDC. "Recent announcements by several large technology vendors and the booming venture capital market for AI startups illustrate the need for "Recent announcements by several large technology vendors and the booming venture capital market for AI startups illustrate the need for organisations to be planning and undertaking strategies that incorporate these wide-ranging technologies. Identifying, understanding, and acting on the use cases, technologies, and growth opportunities for cognitive/AI systems will be a differentiating factor for most enterprises and the digital disruption caused by these technologies will be significant." The ability to recognise and respond to data flows using algorithms and rule-based logic enables cognitive/AI systems to automate a broad range of functions across many industries.


Machine Learning And AI Spending To Surge Toward $47 Billion By 2020: IDC - Which-50

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Spending on cognitive systems and artificial intelligence (AI) across a broad range of industries will drive worldwide revenues from nearly $8.0 billion in 2016 to more than $47 billion in 2020. In its Worldwide Semiannual Cognitive/Artificial Intelligence Systems Spending Guide IDC said the market for cognitive/AI solutions will experience a compound annual growth rate (CAGR) of 55.1 per cent over the 2016-2020 forecast period. According to David Schubmehl, research director, Cognitive Systems and Content Analytics at IDC, "Software developers and end user organizations have already begun the process of embedding and deploying cognitive/artificial intelligence into almost every kind of enterprise application or process" "Recent announcements by several large technology vendors and the booming venture capital market for AI startups illustrate the need for organizations to be planning and undertaking strategies that incorporate these wide-ranging technologies," he said. Schubmehl said identifying, understanding, and acting on the use cases, technologies, and growth opportunities for cognitive/AI systems will be a differentiating factor for most enterprises and the digital disruption caused by these technologies will be significant. The ability to recognize and respond to data flows using algorithms and rule-based logic enables cognitive/AI systems to automate a broad range of functions across many industries.


Machine Learning And AI Spending To Surge Toward $47 Billion By 2020: IDC - Which-50

#artificialintelligence

Spending on cognitive systems and artificial intelligence (AI) across a broad range of industries will drive worldwide revenues from nearly $8.0 billion in 2016 to more than $47 billion in 2020. In its Worldwide Semiannual Cognitive/Artificial Intelligence Systems Spending Guide IDC said the market for cognitive/AI solutions will experience a compound annual growth rate (CAGR) of 55.1 per cent over the 2016-2020 forecast period. According to David Schubmehl, research director, Cognitive Systems and Content Analytics at IDC, "Software developers and end user organizations have already begun the process of embedding and deploying cognitive/artificial intelligence into almost every kind of enterprise application or process" "Recent announcements by several large technology vendors and the booming venture capital market for AI startups illustrate the need for organizations to be planning and undertaking strategies that incorporate these wide-ranging technologies," he said. Schubmehl said identifying, understanding, and acting on the use cases, technologies, and growth opportunities for cognitive/AI systems will be a differentiating factor for most enterprises and the digital disruption caused by these technologies will be significant. The ability to recognize and respond to data flows using algorithms and rule-based logic enables cognitive/AI systems to automate a broad range of functions across many industries.


Hottest areas in Artificial Intelligence

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IDC sees widespread adoption of cognitive systems and artificial intelligence (AI) across a broad range of industries will drive worldwide revenues from nearly $8.0 billion in 2016 to more than $47 billion in 2020. According to a new Worldwide Semiannual Cognitive/Artificial Intelligence Systems Spending Guide from International Data Corporation (IDC), the market for cognitive/AI solutions will experience a compound annual growth rate (CAGR) of 55.1% over the 2016-2020 forecast period. "Near-term opportunities for cognitive systems are in industries such as banking, securities and investments, and manufacturing," said Jessica Goepfert, program director, Customer Insights and Analysis at IDC. "In these segments, we find a wealth of unstructured data, a desire to harness insights from this information, and an openness to innovative technologies. For instance, cognitive technologies are being used in the banking industry to detect and combat fraud – consistently a top industry pain point. Meanwhile, in manufacturing, executives cite improving product quality as a top initiative.