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Artificial Intelligence for Enterprise Applications

Over the past few years, artificial intelligence (AI) has worked its way into a variety of industries, often unbeknownst to users. While the hype surrounding AI has, to a large extent, been focused on autonomous vehicles, customer service chatbots, and programmatic adserving
solutions, AI is proving its worth in a multitude of use cases.

Indeed, AI technology can uncover complex and meaningful patterns in noisy and data-rich environments that pose challenges for human discernment. AI also has the advantage of being able to process very large amounts of data more quickly and accurately than even crowdsourcing. Although computers do fail, make mistakes, and go down unexpectedly, they are able to perform routine tasks more consistently than most people. Moreover, by feeding computers more training and real-world data, and applying the use of supervised learning techniques, computers can actually improve at performing tasks, something that does not always happen with human workers.

Enterprises are clearly recognizing the value associated with incorporating artificial intelligence (AI) into their business processes. The number of proof-of-concept and pilot programs continues to grow, and larger scale commercial deployments of AI technology are being publicized by enterprise organizations around the globe. Indeed, much of the success of AI is due the fact that most tasks currently delegated to AI technology are data-driven and therefore easily measured or benchmarked. When AI technology is deployed, even during a small pilot program, the benefits can quickly be demonstrated and proven by looking at the performance data.

Tractica has analyzed nearly 300 different enterprise AI use cases to create its market forecast, in addition to assessing the underlying meta technological functions being deployed in each use case, including vision, language, and analytics. Although not every use case may prove out, executives in almost every industry need to consider the potential impact AI will have on their respective business models, bottom lines, and careers. Tractica projects that that annual revenue for enterprise applications of AI will increase from $3.7 billion worldwide in 2017 to $80.7 billion in 2025. Some of the key industry sectors already utilizing AI include business services, government, automotive, retail, and advertising. However, it is clear that AI is being adopted by a much broader range of industries, many of which use similar use cases and strategies for harnessing AI to solve specific business problems.

This Tractica report examines the practical application of AI within commercial enterprises, providing a comprehensive analysis of use cases, business models, market drivers and barriers, technology issues, and the evolving market ecosystem. Detailed market forecasts provide a quantification of the opportunity by technology sector, world region, and industry for AI software, hardware, and services. The report includes detailed profiles of 48 key industry players.

Download the report to learn:

  • What are the top AI use cases that will generate commercial revenue?
  • In which industries will AI be deployed?
  • What underlying technologies will be utilized to enable each use case?
  • What are some of the leading companies currently active in the AI space?
  • What is the revenue potential for AI software, hardware, and services for each use case?

June 2019

#LTW