News and Whats The Next

Artificial intelligence (AI) is already becoming entrenched in many facets of everyday life, and is being tapped for a growing array of core business applications, including predicting market and customer behavior, automating repetitive tasks and providing alerts when things go awry. As technology becomes more sophisticated, the use of AI will continue to grow quickly in the coming years.

  • Forecasts of the size and value of the AI market vary widely. This is because research companies use different methodologies and definitions of AI. The situation is further complicated by confusing terminology and nomenclature. For example, many companies that use AI call the technology by a different name (e.g., machine learning or cognitive computing).
  • AI development and adoption is growing quickly, propelled by faster and cheaper processing power, high-profile tech development, ubiquitous cloud computing and the urgent need to manage data overload. AI is frequently combined with big data.
  • Large tech companies, including IBM, Google and Amazon, dominate the market and are jockeying for leadership positions. There are also hundreds of smaller startups focused on developing niche products that meet specific business needs.
  • The use of AI is being explored in virtually every industry, across a wide spectrum of business functions. Companies are using a variety of different approaches to acquire the technology, including developing it in-house, licensing it and partnering with consultants or other organizations.