Worldwide revenues for the artificial intelligence (AI) market, including software, hardware, and services, are forecast to grow 16.4% year over year in 2021 to $327.5 billion, according to the latest release of the IDC Worldwide Semiannual Artificial Intelligence Tracker. By 2024, the market is expected to break the $500 billion mark with a five-year compound annual growth rate (CAGR) of 17.5% and total revenues reaching $554.3 billion. Among the three technology categories, software represented 88% of the total AI market revenues in 2020. However, it is the slowest growing category with a five-year CAGR of 17.3%. Within the AI software category, AI Applications took the largest share of revenue at 50% in 2020.

Machine vision, natural language processing, data analytics and other deep learning applications will propel global AI software revenues over the next five years via a growing list of industry segments spanning automotive and health care to financial services and retail. Market tracker Omdia forecasts AI software revenues will surge through 2025 to $126 billion, a 12-fold increase over a $10.1 billion industry in 2018. "The narrative is shifting from asking whether AI is viable to declaring that AI is now a requirement for most enterprises that are trying to compete on a global level," said Keith Kirkpatrick, principal analyst with Omdia. "AI is likely to trigger major transformations in industries where there is a clear case for incorporating AI, rather than in pie-in-the-sky use cases that may not generate a return on investment for many years," Kirkpatrick added. Omdia estimates that more than half of AI revenues will be generated by machine vision and language applications, with deep learning deployments driving the AI market.

SAS Institute is successfully differentiating itself from tech giants like IBM and Google when it comes to the development of artificial intelligence, according to one of IDC's research leaders The analytics vendor has invested heavily in its AI business and research and development in the past year, and IDC data suggests the investment is paying off. SAS's AI business has seen year-over-year growth at a rate nearly four times that of the overall market, which saw a growth rate of roughly 27 per cent. While a couple of other companies listed in the study had slightly higher growth rates than SAS's 104.6 per cent, none of those companies had higher revenues overall. Warren Shiau, who serves as a research vice-president at IDC Canada, spoke with IT World Canada about the topic and said he believes SAS's big customers, which includes Lockheed Martin, Royal Bank of Scotland, and Honda, have been demonstrated how practical its AI capabilities can be for day-to-day business operations. Shiau specifically cited manufacturing as an example, where AI can be used in conjunction with cognitive capabilities for such procedures such as production lines monitoring and quality control.

While the overall artificial intelligence (AI) market saw steady growth last year, SAS experienced growth at a rate nearly four times faster than the overall market, at 104.6% according to the IDC report, Worldwide Artificial Intelligence Software Platforms Market Shares, 2018: Steady Growth -- Moving Toward Production1. SAS ranked second overall in 2018 in the AI software platforms category. "SAS had impressive growth in the artificial intelligence market, no doubt as a result of its leadership in analytics," said David Schubmehl, Research Director, Cognitive/Artificial Intelligence Systems at IDC. "As organizations move from experimentation to production in AI to solve their business problems, many are looking for a trusted vendor that offers analytics expertise and domain knowledge. SAS' embedded AI capabilities and integration with open source technologies allows organizations to take advantage of the technology to automate processes, without the heavy lifting of training AI models." To continue fostering innovation and progress in an expanding market, SAS has committed to invest $1 billion in AI over the next three years.

Artificial intelligence already impacts many aspects of our daily lives at work, at home, and as we move about. Over the next decade, analyst firm Tractica predicts that annual Global AI enterprise software revenue will grow from $644 million in 2016 to nearly $39 billion by 2025, and services related revenue should reach almost $150 billion. These functional areas are applicable to many use cases, industries, and generate benefits for both businesses and individuals. Here are the top ten use cases which will reap financial rewards for AI technology product and service companies, and a broad spectrum of benefits for everyone else. Self driving cars and other autonomous vehicles are consistently called the "next revolution" in transportation, technology, and some say in civilization in general.

Artificial intelligence already impacts many aspects of our daily lives at work, at home, and as we move about. Over the next decade, analyst firm Tractica predicts that annual Global AI enterprise software revenue will grow from $644 million in 2016 to nearly $39 billion by 2025, and services related revenue should reach almost $150 billion. These functional areas are applicable to many use cases, industries, and generate benefits for both businesses and individuals. Here are the top ten use cases which will reap financial rewards for AI technology product and service companies, and a broad spectrum of benefits for everyone else. Self driving cars and other autonomous vehicles are consistently called the "next revolution" in transportation, technology, and some say in civilization in general.

Google DeepMind has poured cold water on rumours its AlphaGo Artificial Intelligence Go-playing program will face off against Chinese Go champion Ke Jie. "Contrary to internet rumours, we've not decided yet what to do next with #AlphaGo, once we have, there will be an official announcement here," Hassabis tweeted on Monday. The news was originally released by Yang Junan, secretary general of the International Go Federation, at a news conference for the 37th World Amateur Go Championship, on June 4. Yang said representatives had been in contact with the team behind AlphaGo and would set up a match by the end of this year. AlphaGo defeated South Korean Go grandmaster Lee Sedol 4-1 at the Google DeepMind Challenge Match held in March, sparking global interest in AI.