Intelligence

WHAT'S NEXT?: There will be an increased demand for software and services that deliver intelligence, personalization, and specialization. Artificial intelligence could become a $15+ bn opportunity by 2025. Combining human and machine cognition for engagement decisions could yield the precision and reliability of automation without sacrificing the robustness and flexibility that humans bring. The first effect of machine intelligence will be to lower the cost of goods and services that rely on prediction.

• [New] The Global Artificial Intelligence In Agriculture Market size is expected to reach USD 2.9 billion by 2025.
• [New] Sixty-three percent of organizations will deploy artificial intelligence in at least one area of cybersecurity this year.
• [New] The machine learning market size is expected to grow from USD 1.41 Billion in 2019 to USD 8.81 Billion by 2025, at a Compound Annual Growth Rate of 45.1%.
• [New] Global Cognitive Computing Market was valued at USD 7.56 Billion in 2018 and is projected to reach USD 74.03735653 Billion by 2026, growing at a CAGR of 32.89% from 2018 to 2025.
• [New] In 2020, Data Science roles will expand to include machine learning and big data technology skills - especially given the rapid adoption of cloud and IoT technologies across global businesses.
• [New] Although AI has the potential to add almost $16 T to the global economy by 2030, 81 percent of business leaders do not understand the data and infrastructure required for AI.
• [New] A road map announced in 2017 outlines China's goal to be the centre of artificial intelligence (AI) by 2030.
• [New] The global AI in energy management market share was valued at $4,439.1 million in 2018, which is projected to reach $12,200.9 million by 2024, growing at a CAGR of 19.8% during the forecast period (2019-2024).
• The insurance, transportation, and retail industries will either not exist in 20 years or will have changed completely due to artificial intelligence (AI), innovation, and other factors.
• The global cognitive computing market was valued at $30.67 billion in 2018 and is expected to reach $360.55 billion by 2024, expanding at a compound annual growth rate of 50.92%.
• Asia Pacific region is contributing towards the growth of global Machine Learning as a Service Market and anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
• The military artificial intelligence (AI) and cybernetics market witnessed a revenue of $4.77 billion in 2018: The market is projected to reach $13.11 billion 2024 and is anticipated to grow at a CAGR of 18.66% during the forecast period.
• Global Artificial Intelligence in Healthcare market is estimated to demonstrate 51.9% CAGR during the forecast period (2018-2023).
• With a market projected to reach $70 billion by 2020, artificial intelligence is poised to have a transformative effect on consumer, enterprise, and government markets around the world.
• The UK's pavilion at the Dubai World Expo 2020 will use artificial intelligence to write poems in a giant illuminated message to space.
• Spending on AI systems will increase by more than two and a half times between 2019 and 2023, from $37.5 billion to $97.9 billion, for a compound annual growth rate of 28.4%.
• The global artificial intelligence (AI) market is projected to grow at a compound annual growth rate of 57% between 2017 and 2025 into a $36 billion market.
• When combined with key clinical health AI applications, AI has the potential to create $150 billion in annual savings for the U.S. healthcare economy by 2026.
• The global market for memory and processing semiconductors used in artificial intelligence (AI) applications will soar to $128.9 billion in 2025, three times the $42.8 billion total in 2019.
• Although the AI market is projected to grow to around $14.7 billion by 2024, the number of AI-related jobs is predicted to show steady growth starting in 2020.
• Global Artificial Intelligence in Healthcare Market is expected to rise from its initial estimated value of USD 2.07 billion to an estimated value of USD 54.10 billion by 2026, registering a CAGR of 50.37% in the forecast period of 2019-2026.
• The Global Cognitive Computing Market was valued at USD 7.56 Billion in 2018 and is projected to reach USD 74.03735653 Billion by 2026, growing at a CAGR of 32.89% from 2018 to 2025.
• Earlier this year, a McKinsey study revealed that by leaning on big data, as well as artificial intelligence and machine learning tools to process it, could lead to a potential $100 billion in annual savings for medicine and pharma.

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Last updated: 18 February 2020