CIOs are looking forward to make investment in Artificial Intelligence (AI) platforms in 2019 to spruce up their business revenue.
IDC report on Artificial Intelligence earlier indicated that spending on cognitive and artificial intelligence (AI) systems will reach $77.6 billion in 2022 against $24 billion forecast for 2018.
The compound annual growth rate (CAGR) for the AI industry for the 2017-2022 forecast period will be 37.3 percent, said the IDC report.
GrandView research report on Artificial Intelligence said AI market is projected to reach $35.87 billion by 2025 by its direct revenue sources, growing at a CAGR of 57.2 percent from 2017 to 2025.
IHS Markit report on Artificial Intelligence said the global automotive sector will implement more than 170 million AI systems by 2025. Automobile segment will invest in AI to enhance efficiency and problem-solving capabilities.
Strategy Analytics report on Artificial Intelligence indicated the deployment of AI in the media and other industries will be slowed by a shortage of skilled practitioners.
Juniper Research report on Artificial Intelligence said adversarial machine learning will gain traction in sectors such as healthcare and advertising, where protection of huge amounts and types of sensitive data is a high priority.
Research and Markets report on Artificial Intelligence said AI chips market will register a CAGR of about 39 percent by 2023. The convergence of AI and IoT will be a key trend fueling the growth of artificial intelligence chips market. One of the major drivers for this market is the increasing adoption of AI chips in data centers.
Another report on Artificial Intelligence the Artificial Intelligence as a Service (AIaaS) market was valued at $1.907 billion in 2017 and is expected to grow at a CAGR of 40.38 percent over the forecast period to reach $14.596 billion by 2023.
Tangoe said more organizations will launch AI initiatives and will look to enterprise mobility data governance to make information more visible, understandable, and usable. Enterprises will also invest in edge computing solutions to process analytics in real-time.
The Deloitte report on Artificial Intelligence said companies will further accelerate usage of cloud-based AI software and services in 2019. Among companies using AI, over 70 percent will obtain AI capabilities through cloud-based enterprise software and 65 percent will create AI applications using cloud-based development services.
The IBM report on Artificial Intelligence said recently that the proliferation of data and compartmentalized marketing stacks has squarely put AI and machine learning-based marketing tools at the center of deep personalization. This will change how marketers make decisions and deploy campaigns as AI analyzes and delivers personalized content with massive scale.
A report on Artificial Intelligence from Markets and Markets the Artificial Intelligence In healthcare market is estimated to be valued at $2.1 billion in 2018 and is expected to reach $36.1 billion by 2025, at a CAGR of 50.2 percent from 2018 to 2025.
A report on Artificial Intelligence from Reportlinker indicated AI in medicine market was valued at $719 million in 2017 and is estimated to reach $18,119 million at a CAGR of 49.6 percent from 2018 to 2025.
ABI Research report on Artificial Intelligence said the security analytics market size will be $12 billion by 2024.
Ovum’s ICT Enterprise Insights Survey anticipated that 60 percent of organizations will have an enterprise-wide strategy for AI in 2019.
The McAfee Labs 2019 Threats Predictions Report said the accessibility of technologies such as artificial intelligence-as-a-service will enable cybercriminals to develop cyber-attacks with increasingly sophisticated evasion techniques.
A Microsoft report said high-end retailers are using AI powered devices to increase their knowledge of customers to deliver better products and services.
AI and machine learning can play a significant role in helping retailers optimize their supply chain. The retailers are also using Artificial Intelligence to leverage the benefits of voice assistants like Cortona, Alexa, Facebook Messenger etc.
Microsoft said about 40 percent of retailers will develop a customer experience architecture supported by AI, boosting conversions up to 30 percent and revenue by 25 percent through hyper-micro personalization — by 2019.