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) …
Robots may keep Tesla's CEO up at night, but companies around the globe are interested in putting them to work, according to new research from Tractica. In a press release Tractica, the market intelligence firm, announced its forecast that more than 23,000 robots will be deployed for customer service applications from last year through 2022. During the forecast period, the robots will generate $451 million in revenue. Nearly half of all the customer service robots will be found in Asia Pacific, but there will also be growth in the U.S. and Europe. "Fewer than five years ago, hardly anyone had seen or heard of robots in public and commercial spaces, as most of the developments were restricted to research labs," says research analyst Manoj Sahi in the press release highlighting results of its latest research.
Intel Corp. reported strong revenue growth during its third quarter as its "data-centric" strategy begins to take hold in key technology sectors like all-flash storage. Meanwhile, it is readying a new AI chip. Intel was among several leading U.S. technology companies reporting strong revenues this week along with Amazon and Google. The chipmaker reported revenue totaling $16.1 billion for its third quarter, about $400 million higher than forecast. Intel said it is revising its annual revenue forecast up by $700 million to $62 billion.
Consumer enthusiasm for both emerging technology and resilient mature categories is exceeding expectations – driving the U.S. consumer technology industry to an estimated 3.2 percent revenue growth in 2017, earning $321 billion in retail revenues ($251 billion wholesale), according to new research from the Consumer Technology Association (CTA). The latest edition of CTA's semi-annual industry report, U.S. Consumer Technology Sales and Forecasts, also projects drones, OLED TV and virtual reality (VR) technology will each cross the $1 billion revenue milestone for the first time this year. "Driven by consumer demand for the products we already know and love, as well as new, innovative technologies, revenue growth in the consumer technology industry is exceeding expectations," said Gary Shapiro, president and CEO, CTA. "Not only are breakthrough technologies changing our lives for the better – such as drones delivering medical supplies to remote areas or the use of VR in patient care – tech is also a key driver of the U.S. economy, outpacing GDP growth, and reinforcing America's role as a global leader in innovation." CTA's semi-annual report serves as a benchmark for the consumer technology industry, charting the size and growth of underlying product categories.
One of the major factors that will have a positive impact on the growth of this market includes the rising usage of deep learning technology among various industries such as automotive, advertisement, medical and others. Moreover, increasing acceptance of cloud based technology, high usage of deep learning in big data analytics, high R&D expansions for enhanced processing hardware for deep learning and rising applicability in healthcare and autonomous vehicles are fueling the market growth. Moreover, the market has tremendous growth opportunity such as utilization of deep learning technology in smartphones and medical image analysis. Depending on application, data mining segment is anticipated to grow at a highest CAGR during the forecast period attributed to growing utilization of deep learning in cybersecurity and database systems and data analytics.
The concept behind NLP is simple: if and when machines can understand and communicate with humans in natural (human) language, it democratizes data science, enabling humans to access, analyze, and leverage data more intelligently and become more efficient as they offload redundant, data-heavy tasks to machines. The market intelligence firm anticipates that NLP software deployments will drive significant additional sales of hardware and professional services, bringing the total NLP software, hardware, and services market opportunity to $22.3 billion by the end of the forecast period. Tractica's report, "Natural Language Processing", examines 42 NLP use cases, identifying those applications best suited for commercial use. In addition, the report details the market trends and technology issues surrounding natural language processing and presents 10-year forecasts for NLP hardware, software, and services during the period from 2016 through 2025.
DUBLIN--(BUSINESS WIRE)--The "Global Artificial Intelligence in Healthcare Market Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023" report has been added to Research and Markets' offering. The rising demand for real time monitoring system and increasing usage of big data in healthcare industry are responsible for the growth of the global Artificial Intelligence in healthcare market. However, ambiguous regulatory guidelines for medical software and reluctance among medical practitioners to adopt Artificial Intelligence based technologies are the factors that restrain the growth of the global Artificial Intelligence in healthcare market. Also, high usage of personal care products among consumers is driving growth of the Artificial Intelligence in healthcare market in North America.
DUBLIN--(BUSINESS WIRE)--The "Artificial Intelligence in Healthcare Market by Offering - Global Opportunity Analysis and Industry Forecast, 2017-2023" report has been added to Research and Markets' offering. The market growth is driven by rise in adoption rate of AI systems and delete technological advancements in the AI field. In addition, the ability of these systems to improve patient outcomes, increase in adoption of precision medicine, and increase in need for coordination between healthcare workforce & patients are expected to fuel the market growth. Increase in usage & application of AI systems is expected to improve patient outcomes and maintain electronic health records (EHR) & patient records to boost the market growth.
Robotic process automation (RPA) is a family of technologies designed to replicate human actions in order to complete a task or series of tasks. According to a new report from Tractica, the market for RPA is developing rapidly, and the market intelligence firm forecasts that worldwide revenue in the sector will increase from $151 million in 2016 to more than $5.1 billion by 2025. The key industry sectors that are embracing RPA implementations include financial services & banking, utilities & telecommunications, retail & commercial, and healthcare & insurance. Tractica's report, "Robotic Process Automation", provides an in-depth analysis of the robotic process automation market, including traditional approaches as well as newer cognitive RPA approaches that utilize AI capabilities.
Improved sales and cost cuts helped automaker Honda Motor Co. shrug off lingering troubles from the Takata air bag recalls to log a nearly 19 percent improvement in its fiscal first-quarter profit. Tokyo-based Honda, which makes the Fit subcompact, Accord sedan and Asimo robot, on Tuesday reported a ¥207.3 billion profit for the April-June period, up from ¥174.6 billion the same period last year. Honda expects to sell 5.08 million vehicles for the fiscal year through March 2018, up from the nearly 5.03 million vehicles it sold during the last fiscal year. Honda is the biggest customer of air bag maker Takata Corp., which has filed for bankruptcy as it recalls millions of defective air bags whose inflators can explode with too much force, spewing shrapnel.
The new research, Chatbots: Retail, eCommerce, Banking & Healthcare 2017-2022, forecasts that chatbots will be responsible for cost savings of over $8 billion per annum by 2022, up from $20 million this year. Juniper expects dramatic cost savings to be made in the healthcare and banking sectors, as enquiry resolution times are reduced and cost savings boosted. Research author Lauren Foye explained: "We believe that healthcare and banking providers using bots can expect average time savings of just over 4 minutes per enquiry, equating to average cost savings in the range of $0.50-$0.70 per interaction. In the banking sector, Juniper expects this to reach over 90% in 2022.