Headline partner:

Intel

Artificial Intelligence Use Cases

Emerging technology focused market intelligence firm, Tractica, outlines key opportunities in the growing AI market.

Artificial intelligence (AI) has been defined in many ways, often with varying degrees of accuracy. Tractica defines AI as an information system that is inspired by a biological system designed to give computers the human-like abilities of hearing, seeing, reasoning, and learning. A range of technologies enable AI, including machine learning (ML), deep learning (DL), computer vision (CV), natural language processing (NLP), machine reasoning (MR), and strong AI, all of which fall under the AI umbrella.

No longer just a concept or pipe dream, AI is powering applications and use cases across consumer, enterprise, and government markets around the world. The combination of vast amounts of data, faster processing power, and increasingly smarter algorithms are enabling the use of AI to solve real problems, and open up new opportunities for efficiency gains, increased speed, and more profitability.

Based on our research and forecasting, Tractica believes the future opportunity for AI spans a wide range of industries and geographies and is particularly disruptive in highly domain-specific markets with high-volume data needs and ontologies, as well as those with growing applications for machine perception. From autonomous robotics to algorithmic news stories, from product recommendations to processing patient data, and from virtual assistants to voice recognition, AI is likely going to be the driver of the next big technological shift, on par with past shifts like the industrial revolution, the computer age, and the smartphone revolution.

Due to the convergence of three independent trends, AI has now become a driving force in the market. More data, faster hardware, and better algorithms are accelerating research, development, and commercial investment in AI applications at lightning speeds, with many organizations rapidly scaling from a pilot deployment to a full-scale, enterprise rollout of AI technology within months or quarters, rather than years. Those sectors that were pioneers in the digital space are now accelerating in AI adoption, as the question of how to better use and monetize data persists. Tractica’s quantitative market assessment forecasts that annual revenue generated from the direct and indirect application of AI software will increase from $5.4 billion in 2017 to $105.8 billion by 2025.

Tractica’s research into AI across 30 industries has identified more than 200 use case categories. Our recent report defines, contextualizes, and offers real-world examples and revenue forecasts for each use case organized by industry. It serves as a referential compendium to Tractica’s ongoing market forecasting of the AI space, offering an overview and analysis for each use case included in the model.

Read more in the interactive report from TechXLR8 and the AI Summit covering top use cases such as:

  • Customer service & marketing VDAs
  • Machine/vehicular object detection
  • Medical image analysis
  • Network/IT operations monitoring & management
  • Patient research & analysis
  • Predictive maintenance
  • Video surveillance
  • Voice/speech recognition
    and many more

June 2020

#LTW