SINGAPORE, September 27, 2022 – Asia/Pacific* spending on AI systems (including hardware, software, and services) will rise from $20.6 billion in 2022 to around $46.6 billion in 2026, according to IDC's latest Worldwide Artificial Intelligence Spending Guide. Artificial intelligence (AI) solutions have become an essential part of process improvement and business decision-making, assisting organizations in keeping up with market viability. IDC forecasts a compound annual growth rate (CAGR) of 23.7 percent for 2021-2026. "Pre-trained natural language and computer vision models have contributed largely to the 1st wave of adoptions. It's time for more organizations to tap into their own data asset and start managing the "data to intelligence" lifecycle. This will become one of the differentiating capabilities for companies to compete in the digital-first era," says Jessie Danqing Cai, Associate Research Director, Artificial Intelligence, IDC Asia/Pacific.

NEEDHAM, Mass., September 12, 2022 – Worldwide revenues for the artificial intelligence (AI) market, including software, hardware, and services for both AI centric and AI non-centric applications*, totaled $383.3 billion in 2021, an increase of 20.7% over the prior year, according to the most recent International Data Corporation (IDC) Worldwide Semiannual Artificial Intelligence Tracker. IDC expects the AI market value will reach nearly $450 billion in 2022 and maintain a year-over-year growth rate in the high teens throughout the five-year forecast. "Across all industries and functions, end-user organizations are discovering the benefits of AI technologies, as increasingly powerful AI solutions are enabling better decision-making and higher productivity," said Rasmus Andsbjerg, associate vice president, Data & Analytics at IDC. "The reality is, AI offers solutions to everything we are facing at the moment. AI can be a source for fast-tracking digital transformation journeys, enable cost savings in times of staggering inflation rates and support automation efforts in times of labor shortages." AI Software again accounted for the largest share the overall AI market in 2021.

The Industry 4.0 market is poised to grow significantly. The increasing adoption of IoT in the digital transformation of manufacturing and related industries, the rise of industrial robotics and the proportionally higher spend in the Industrial Internet of Things are just some contributing factors. While we are still in the early days of Industry 4.0 and challenges remain on many fronts such as the integration of IT and OT, data capabilities, implementation challenges, guidelines and strategic capacities, skills, culture, standards and the maturity/readiness levels on the path from sheer optimization/automation to real transformation, Industry 4.0 is also driven by myriad challenges in the supply chain and customer expectations. The Industry 4.0 technology market is forecasted to reach $152.31 In an ongoing quest to deliver the value of Industry 4.0, it is certainly also boosted by national and supra-national pushes in a changing geopolitical industrial ecosystem, further driven by some of the larger players and alliances in the industry.

"The global life science's technology market is growing significantly, but it's especially exciting to watch the momentum on the West Coast. West Coast biotechs are rapid adopters of clinical trial technology, decentralized trial models and smaller, more focused outsourced providers like eClinical's Data Services" Biocom California, the association representing the California life science industry, reports that the state's life science sector has tripled since 2000, with a compound annual average growth rate of 5.6%. The organization's recent report also reveals that the local life science industry generated $131 billion in 2020 alone. Simultaneously with this growth, companies face increasing pressure in a crowded market to quicken drug development timelines to get treatments produced faster than competitors and contribute to the industry's sizable ascent. The elluminate Clinical Data Cloud, which now includes risk-based quality management (RBQM) for operational insights, and a Statistical Computing Environment (SCE) will help these companies enhance their clinical trial efficiencies through greater automation of processes delivering sustained competitive advantage.

Debra Fahey will be joining the company as Senior Vice President, Global Head of Delivery & Operations, and Michael Fox will be joining as Senior Vice President of Product Management. Together, these leaders bring over 40 years of experience in the fields of technology, business analytics, innovation strategy, and software development to ElectrifAi's growing team of skilled professionals. "I am proud to welcome Debra and Michael as the newest additions to ElectrifAi's deep executive leadership team," said CEO, Edward Scott. "Their wealth of knowledge and invaluable experience in the fields of delivery, operations, and product management will be vital in their new roles advancing ElectrifAi's industry-leading Ai and ML products. I am confident Ms. Fahey and Mr. Fox will add value to our expanding global leadership team and continue to strengthen our expertise within the Ai and ML technology, innovation, and delivery of solutions."

SINGAPORE, October 18th, 2019 – Asia/Pacific* spending on artificial intelligence (AI) systems will reach USD 6.2 billion in 2019, recording an increase of almost 54% when compared to 2018, according to the latest IDC Worldwide Semiannual Artificial Intelligence Systems Spending Guide. Evidently, as industries invest aggressively in projects that utilize AI software capabilities, IDC expects spending on AI systems will increase to USD 21.4 billion by 2023 with a compound annual growth rate (CAGR) of 39.6% over the 2018-23 forecast period. From providing chat bots for better customer service to improve the efficiency of operations and tasks for their business models, industries like Banking, Retail and professional services are spending in this technology at scale says," Ritika Srivastava, Associate Market Analyst at IDC Asia/Pacific. In 2019, Asia/Pacific* spending on AI systems will be led by the Banking industry with 10.7% share of the total, followed by retail with a 10.2% share.

The latest research Cognitive Computing Technology market is comprehensively and Insightful information in the report. The market report contains different market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. The report provides detailed profile assessments and multi-scenario revenue projections for the most promising industry participants. Each regional market studied in the report is carefully analyzed to explore key opportunities and business prospects they are expected to offer in the near future. This equips players with crucial information and data to improve their business tactics and ensure a strong foothold in the global Cognitive Computing Technology market.

Summary: The fourth and final AI strategy we'll review is Systems of Intelligence (SOI). This is getting nearly as much attention as the Vertical strategy we previously reviewed. It's appealing because it seems to offer the financial advantages of a Horizontal strategy but its ability to create a defensible moat requires some fine tuning. In the last several articles we've been looking at different strategies for successful AI companies. We described Data Dominance, and the Vertical and Horizontal strategies.

You might not have heard of iFlyTek. The company is hardly a household name in its domestic market of China, either. But it has a vice-like grip on over 80 percent of the speech technology market in the People's Republic, heading an ecosystem of over 10,000 partners and developers and with user numbers in the hundreds of millions. The company was founded in 1999 by Liu Qingfeng and five other students from the University of Science and Technology of China, widely recognized as one of the nation's preëminent research institutions. They took advantage of research conducted at the university's National Intelligent Computer R&D Center and the Human-Machine Speech Communication Laboratory.

According to Gartner's latest report, Worldwide IT spending is forecast to reach $3.5 trillion in 2017, up 2.9 percent from 2016's estimated spending of $3.4 trillion. Additionally, IT services spending is also set to rise 4.8 percent in 2017 to reach $943 billion. All of these figures tell us that many organizations have already allocated billions of dollars to keep up with the emerging trends in enterprise technology. One of our CMS-Connected contributors and a founding partner of Digital Clarity Group, Cathy McKnight, wrote a splendid article about the relationship between artificial intelligence and marketers. She also pointed out that more and more of the technology titans have adopted and leveraged the power of AI to enable their platforms to generate natural language, content optimization, analyze consumer behavior, and ultimately, be ahead of the game by knowing more about their customers' needs than even the customers know themselves.