Artificial intelligence is the today’s game changer technology with a potential to disrupt the businesses.
The power of Artificial Intelligence can’t be underestimated
The Artificial Intelligence (AI) technology holds high growth prospects for several businesses. Now machine learning/ artificial intelligence is not just restricted to the data mining and data analytics but have embedded in all possible industries and smoothly integrated in our daily lives. Healthcare & medicine, automotive & transportation, marketing & entertainment, education, gaming, governance, telecommunication are some the major business sectors where artificial intelligence has marked its growth in last few years. Furthermore, AI is rapidly being adopted by financial institutes, hedge funds, broker-dealers, and public & private institutions in financial service industry.
Various applications of Artificial Intelligence (AI) in deep learning, computer vision, planning, reasoning, natural language processing, bio sensor recognition, cyber security, robotics, video streaming and analysis, context processing etc. are driving the growth of AI market. Despite of ample benefits, the AI technology adoption poses challenges related to technically skilled workforce, regulatory and legal issues, and investment & funding.
Companies at digital frontline and tech giants such as Apple, Google, Baidu, Intel, Amazon, IBM etc. are rapidly increasing their investments in AI technology; however, the commercial adoption is going at slow pace. Taking strategical moves such as collaboration and mergers & acquisitions with tech start-ups to develop AI integrated solutions are the major focus areas of key players. Hence, this has become the fastest external source of funding for AI companies. According to the World Economic Forum, the global investment in AI start-ups rose from $282 million in 2011, to $2.4 billion in 2015. Since 2010, prominent technology companies and OEMs have closed more than 100 mergers and acquisitions.
Our vast research study on Artificial Intelligence (AI) helps our clients to explore the market data of all the AI based applications and technologies making them capable of taking all strategic decisions and help them overcome the industry challenges. Though few tech giants are already integrating AI in their product or services, many of the other firms are hesitant to adopt this technology due to several reasons. Our research study helps these companies identify their issue and assist them in formulating a strategy that will increase their sustainability in this tech disruption.