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. In this case, cognitive systems recognize and know how to respond to dynamic fluctuations in product specs by adapting the production to stay within quality targets."

Dace-IT is utilizing Coherent Motion Regions to Detect, Analyze, Count and Explore with Intelligent Technology to provide Intelligent Video Analysis.

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. In this case, cognitive systems recognize and know how to respond to dynamic fluctuations in product specs by adapting the production to stay within quality targets."

Tip One: Do Both Empire State and Top of Rock But do one in the morning and one as the sun is setting to see the city in a different light. I was so grateful for this tip.

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. In this case, cognitive systems recognize and know how to respond to dynamic fluctuations in product specs by adapting the production to stay within quality targets."

Healthcare, advertising, sales & marketing, and business intelligence startups using AI technologies received the highest number of deals in 2015 compared to other sub-industries; healthcare is dominating 2016 so far. Several sub-industries are leveraging the advances in artificial intelligence algorithms, from predicting crop failures in agriculture to intelligent shopping assistants in e-commerce. Particularly, healthcare startups using advanced machine learning algorithms for medical imaging & diagnostics, remote patient monitoring, and risk prediction, among other things, have piqued the interest of investors in recent years. Deals to these startups increased from 8 in 2011 to 60 in 2015. There have already been over 40 deals to this sub-industry so far this year (as of 6/15/2016).

Several sub-industries are leveraging the advances in artificial intelligence algorithms, from predicting crop failures in agriculture to intelligent shopping assistants in e-commerce. Particularly, healthcare startups using advanced machine learning algorithms for medical imaging & diagnostics, remote patient monitoring, and risk prediction, among other things, have piqued the interest of investors in recent years. Deals to these startups increased from 8 in 2011 to 60 in 2015. There have already been over 40 deals to this sub-industry so far this year (as of 6/15/2016). A list of some of these startups can be found in our AI in healthcare market map.