Artificial intelligence (AI) is key to how consumer internet companies operate today, allowing them to roll out hyper-personalized services by following an "AI first" strategy. The rest of the market is still catching up on adopting AI and has yet to fully understand the value of AI, including the breadth and depth of use cases, the technology choices surrounding AI, and the implementation strategies for AI. Compared to a few years ago, the AI market is starting to solidify around real-world applications with the pace of change being faster than it has ever been before, as startups and technology providers rush to create platforms and targeted niche solutions for solving specific enterprise problems. Tractica's AI market forecast is aimed at quantifying the software, hardware, and services opportunity, building on a database of real-world use cases and applications. In sizing and forecasting the total global AI market, Tractica has created a taxonomy of 266 real-world use cases for AI, distributed across 29 different industry sectors and corresponding with six major technology categories, plus multiple combinations of technologies.

Artificial intelligence (AI) is key to how consumer internet companies operate today, allowing them to roll out hyper-personalized services by following an "AI first" strategy. The rest of the market is still catching up on adopting AI and has yet to fully understand the value of AI, including the b...

Artificial intelligence (AI) technologies are being deployed for an increasing variety of use cases across consumer, enterprise, and government markets around the world. AI is an umbrella term that includes multiple technologies, such as machine learning, deep learning, computer vision, natural language processing (NLP), machine reasoning, and strong AI. Tractica defines AI as an information system that is inspired by a biological system designed to give computers the human-like abilities of hearing, seeing, reasoning, and learning. AI has applications and use cases in almost every industry vertical and is considered the next big technological shift, similar to past shifts like the industrial revolution, the computer age, and the smartphone revolution. Tractica's market forecast is focused on identifying the software, hardware, and services revenue opportunity for AI, building a bottom-up, use case-based model that classifies and estimates the revenue potential of each use case and rolls it up by industry, technology, and world region to estimate the overall market.

An umbrella term that refers to information systems inspired by biological systems, AI encompasses multiple technologies including machine learning, deep learning, computer vision, natural language processing (NLP), machine reasoning, and strong AI. These technologies have use cases and applications in almost every industry and promise to significantly change existing business models while simultaneously creating new ones. In sizing and forecasting the total global AI market, Tractica has created a taxonomy of 191 real-world use cases for AI, organized into 27 different industry sectors and corresponding with six major technology categories, plus multiple combinations of technologies. Some use cases - such as image recognition, algorithmic securities trading, and healthcare patient data management - have huge scale potential, while others are niche applications. Likewise, a few key industry sectors including consumer products, business services, advertising, and defense applications will drive significant revenue for AI software implementations in addition to AI-driven hardware and service sales, but during the coming decade the technologies will have an effect on almost every conceivable industry sector.

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Machine learning as a service market grow at a CAGR of 43.7% to reach USD 3755.0 million by 2021

An umbrella term that refers to information systems inspired by biological systems, AI encompasses multiple technologies including machine learning, deep learning, computer vision, natural language processing (NLP), machine reasoning, and strong AI. These technologies have use cases and applications in almost every industry and promise to significantly change existing business models while simultaneously creating new ones. In sizing and forecasting the total global AI market, Tractica has created a taxonomy of 191 real-world use cases for AI, organized into 27 different industry sectors and corresponding with six major technology categories, plus multiple combinations of technologies. Some use cases – such as image recognition, algorithmic securities trading, and healthcare patient data management – have huge scale potential, while others are niche applications. Likewise, a few key industry sectors including consumer products, business services, advertising, and defense applications will drive significant revenue for AI software implementations in addition to AI-driven hardware and service sales, but during the coming decade the technologies will have an effect on almost every conceivable industry sector.