If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Artificial intelligence (AI) technology is progressing at a rapid pace, as is the application of the technology to solve real-world problems. While the market for chipsets to address deep learning training and inference workloads is still a new one, the landscape is changing quickly – in the past year, more than 60 companies of all sizes have announced some sort of deep learning chipset or intellectual property (IP) design. A new report from Tractica finds that virtually every prominent name in the technology industry has acknowledged the need for hardware acceleration of AI algorithms and the semiconductor industry has responded by offering a wide variety of solutions. Tractica forecasts that the market for deep learning chipsets will increase from $1.6 billion in 2017 to $66.3 billion by 2025. System-on-a-chip (SoC) accelerators such as those found in mobile devices will lead the market in terms of sheer volumes by the end of the forecast period, followed by application-specific integrated circuits (ASICs) and graphics processing units (GPUs).
This has further foisted pressure on the traditional retailers to reimagine the strategies for creating and capturing value in order to explore the optimal usage of their assets. Public policy liberalization is also one of the key factors supporting the flow of knowledge, information and resources, further generating pressure on the brick n' mortar retailers to tackle with the lowered entry barriers to the online retailers in the market. Key trend which will predominantly effect the market in coming year is rising adoption of multi-channel or omni channel retailing. In forthcoming years, the retail industry is anticipated to witness higher growth in the trend of Omni channel retailing. Artificial intelligence will be having a key role as this technology would be bridging the gap between online and offline retailing in coming future.
Artificial intelligence (AI) has worked its way into a variety of industries, from the obvious (autonomous vehicles) to the hidden (anti-money laundering due diligence). But while organizations are clearly recognizing the value associated with incorporating AI into their business processes, they also are encountering a number of challenges with integrating this new intelligence into their operational processes. The value of using algorithms to unmask hidden patterns and then correlate findings with other seemingly unrelated variables to create real "intelligence" is becoming increasingly clear with each completed proof-of-concept (POC) project. But it is the larger, organization-wide deployment of AI that will generate the return on investment (ROI) that companies large and small have been seeking. To fully access the operational and economic benefits of AI, however, organizations are realizing that, in most cases, enabling AI is not a plug-and-play proposition.
DUBLIN--(BUSINESS WIRE)--The "Artificial Intelligence (AI) in North America: AI Market by Platforms, Components, Deployment Mode, Applications, and Industry Verticals 2018 - 2023" report has been added to ResearchAndMarkets.com's offering. Artificial Intelligence (AI) represents machine-based intelligence, typically manifest in "cognitive" functions that humans associate with other human minds. There are a range of different technologies involved in AI including Machine Learning, Natural Language Processing, Deep Learning, and more. One of the primary drivers for AI is automated machine-driven decisions. Consequently, AI is rapidly making its way into many advanced solutions including autonomous vehicles, smart bots, advanced predictive analytics, and more.
The race for making perfect hardware to accelerate artificial intelligence (AI) applications is heating up and many companies are jumping in with their products and solutions. Of the three key parts of hardware infrastructure compute, storage, and networking compute has made significant progress in the last couple of years. The other two areas, storage and networking, are lagging behind and have yet to see major innovations pertaining to AI applications. Currently, the industry is going with the fastest available option and promoting that as a solution for deep learning. Over time, more research and development (RandD) will go into these areas and new products will emerge that are designed specifically for AI.The distributed computing infrastructure that allows AI applications to run on multiple machines is in its infancy.
Healthcare has undergone a transformation over the past several years, shifting from paper-based records systems to electronic records, as well as incorporating digital health monitoring devices and other advanced patient screening systems. These advances have led to an explosion of data, which can best be manipulated and analyzed by artificial intelligence (AI) technology. In healthcare, according to a new report from Tractica, AI is largely being implemented as a tool to more efficiently and accurately review data, and uncover patterns in the data that can be used to improve analyses, uncover inefficiencies, and streamline care, from both a clinical and an operational perspective. The market intelligence firm finds that the overarching driver in these AI implementations is to provide better care for patients, while reducing costs and administrative headaches and bottlenecks. Tractica forecasts that global software revenue from 21 key healthcare AI use cases will grow from $165 million in 2017 to $5.6 billion annually by 2025.
Bob, CFO of ABC Inc is about to get on an earnings call after just reporting a 20% miss on earnings due to slower revenue growth than forecasted. Company ABC's stock price is plummeting, down 25% in extended hour trading. The board is furious and investors demand answers on the discrepancies. Inaccurate revenue forecast remains one of the biggest risks for CFOs. In a recent study, more than 50% of companies feel their pipeline forecast is only about 50% accurate.
According to the latest market research report "Artificial Intelligence Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), End-User Industry, and Geography - Global Forecast to 2025", published by MarketsandMarkets, the market is expected to grow from USD 21.46 Billion in 2018 to USD 190.61 Billion by 2025, at a CAGR of 36.62% between 2018 and 2025. Major drivers for the market are growing big data, the increasing adoption of cloud-based applications and services, and increasing demand for intelligent virtual assistants. The major restraint for the market is the limited number of AI technology experts.
According to the "Artificial Intelligence in Marketing Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Context-Aware Computing, NLP, Computer Vision), Deployment Type, Application, End-User Industry, and Geography - Global Forecast to 2025", published by MarketsandMarkets, the market is expected to be valued at USD 6.46 Billion in 2018 and is likely to reach USD 40.09 Growth in the adoption of customer-centric marketing strategies, increase in demand for virtual assistants, and increased use of social media for advertising are the major factors driving the demand for AI-based marketing and sales solutions.