The global artificial intelligence market is expected to grow at significantly high CAGR during 2018-2024. Artificial Intelligence (AI) is rapidly making its way into several advanced solutions as well as autonomous vehicles, smart bots, advanced predictive analytics, and more.
Global AI market is segmented on the basis of technology, end-user industry, region, and offerings. On the basis of technology, the market is segmented into natural language generation, speech recognition, virtual agents, machine learning, robotic process automation, biometrics, text analytics & natural language processing and AI optimized hardware.
AIoT (AI support of IoT) is just beginning to become part of the ICT lexicon as the possibilities for the former adding value to the latter are only limited by the imagination. Artificial Intelligence (AI) represents a combination of various technologies including Machine Learning, Deep Learning, Natural Language Processing, Computer Vision, Speech Recognition, Context-Aware Processing, Neural Network, and Predictive APIs. AI can transform more than 90% of enormous organizations across client, enterprise, industrial, and government sectors.
Many trade verticals are transformed through AI integration with enterprise, industrial, and client product, and service ecosystems. It is destined to become an integral component of business operations including supply chains, sales, and marketing processes, product and service delivery and support models. On the basis of the end-user industry, the market is segmented into journalism, entertainment, online retail stores, automobile sector, healthcare, banking and finance, manufacturing, home appliances, online customer support. On the basis of the offering, the market is segmented into hardware, software, and services.
Forecast for AI in predictive analytics 2019 to 2024
Identify highest potential AI technology area opportunities
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Learn the optional use of AI for smart predictive analytics in IoT data
Understand the AI in Big Data, Analytics, and IoT ecosystem and value chain
Identify opportunities for AI in Analytics for IoT and alternative unstructured data
The combination of Artificial Intelligence (AI) and the Internet of Things (IoT) have the potential to dramatically accelerate the benefits of digital transformation for consumer, enterprise, industrial, and government market segments. Data generated from IoT supported systems will become extremely valuable, both for internal corporate needs as well as for many customer-facing functions such as product lifecycle management.
The AIoT market constitutes solutions, applications, and services involving AI in IoT Systems and IoT support of AI Solutions. The publisher sees the Artificial Intelligence of Things (IoT) as a transformation for both technologies as AI adds value to IoT through machine learning and decision making and IoT adds value to AI through connectivity and data exchange.
As IoT networks proliferate throughout each major industry vertical, there’ll associate in a Nursing progressively great amount of unstructured machine data. The growing quantity of human-oriented and machine-generated data can drive substantial opportunities for AI support of unstructured data analytics solutions.
The Internet of Things (IoT) refers to uniquely identifiable objects (things) associate in nursing their virtual representations in an Internet-like structure. The world is moving on the far side standalone devices into a brand new era wherever everything is connected via IoT technologies. This has broad and deep implications for the product, services, and solutions across each & every industry vertical.
AI enhances the power for Big Data Analytics and IoT platforms to supply price to every of those market segments. The employment of AI for higher cognitive process in IoT and data analytics are crucial for economical and effective decision making, particularly within the area of streaming data and real-time analytics related to edge computing networks.
Real-time data are a key price proposition for all use cases, segments, and solutions. The ability to capture streaming data, confirm valuable attributes, and build selection in real-time can add an entirely new dimension to service logic. In several cases, the information itself, and actionable information are the service.
Some of the key players contributing significantly in the growth of AI market include AIBrain, Amazon, Google, Anki, Apple, CloudMinds, Facebook, IBM, iCarbonX, Intel, Iris AI, Next IT, SoundHound, Visenze and Zebra Medical Vision. These companies are working in various AI key technologies like natural language generation, robotics, and deep learning.