The study, Artificial Intelligence Market Report: Trends, Forecast and Competitive Analysis, conducted by Research and Markets, also listed retail, automotive and other sectors as primed for growth. Major drivers for AI include a heightened demand for virtual assistance and increasing adoptions of cloud-based technology, according to a press release.
“Emerging trends, which have a direct impact on the dynamics of the artificial intelligence industry, include growing adoption of artificial intelligence in IoT applications and increasing demand for AI-enabled processors,” according to the release. The report includes profiles of:
- Intel
- IBM
- Amazon
- NVIDIA
- Apple
- Microsoft
- General Electric
- NEC Corporation
“The analyst forecasts that the machine learning technology will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing adoption of this technology in the autonomous applications and growing consumer preference for IoT-enabled devices,” according to Cision.
From Twitter:
Amit Mehra, CFA @_amitm
"The shift towards digitisation has also led to the growing importance of digital officer #artificialintelligence https://www.business-standard.com/article/finance/bank-digitisation-creates-new-jobs-robot-programmer-to-blockchain-expert-119062900851_1.html"
Overall, media and advertising are anticipated to take up the largest share of AI’s total applications as “customer-centric marketing strategies” and social platform advertising use continue to gain popularity. The largest gains are expected to come from the healthcare segment “due to advancements in clinical research and growing demand for electronics-based medical equipment and sensors in the healthcare applications,” according Cision.
Further, the Asia-Pacific region will remain a stronghold for AI usage over the five-year forecast period as countries like China and India see growth from industrial automation and smart home device usage.
World Economic Forum Survey Shows Users Want AI Kept in Check
For all of its emerging uses, financial or otherwise, many have expressed concerns that powerful Artificial Intelligence technology may need greater oversight and scrutiny. According to a poll from the World Economic Forum featuring 20,000 people spanning 27 countries, 41% of those asked answered affirmatively to the question: “Are you worried about the use of AI?” Of those asked, 27% disagreed with the sentiment while 32% were neutral.
“Artificial intelligence is one of the most powerful tools we have as a society,” said Kay Firth-Butterfield, head of AI at the World Economic Forum in a statement. “But, without a governance structure to provide the guardrails for how we interact with this, we risk leaving large parts of the population behind.”
Further, nearly half of those surveyed said companies that use AI “should be regulated more strictly,” compared to 20% of those surveyed who disagreed with that sentiment. Government adoption was viewed less skeptically, as 40% of those asked said restrictions on governmental entities should to be tightened, according to information from the World Economic Forum.
