Artificial Intelligence (AI) & Machine Learning Industry Market Research

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Artificial Intelligence (AI) & Machine Learning OVERVIEW


     Plunkett Research estimates the U.S.
    market for AI on this basis at more than $14.4 billion for 2018.
     Researchers at Gartner estimated that the global business value derived yearly from AI had already reached $1.2 trillion by 2018, while analysts at PwC estimated that AI's contribution to the global economy could soar to $15.7 trillion by 2030.
    Artificial Intelligence (AI) and machine learning will create vast changes in nearly all segments of business and industry over the mid-term.
     The effect of AI on consumers and households is already in broad evidence, although the people benefitting from such technologies may not be aware of the process or the significance of what's going on around them.
     For example, utilizing machine learning, Amazon.com pioneered the development of advanced software that learns from a shopper's actions online and then makes product recommendations tailored to the individual.
     In its early years, Netflix famously offered a $1 million prize to anyone who could engineer an algorithm that would learn from a subscriber's movie rental habits in a manner that would increase the accuracy and usefulness of its online recommendation engine by 10%.
     The more that Amazon or Netflix can display perfectly curated products for individual shoppers, the happier the consumer and the greater the amount of sales completed.
     (Yes, Netflix paid off on this Progress Prize offering, selecting the work of a team of engineers that called themselves “BellKor's Programmatic Chaos.”) Search

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