Artificial Intelligence Market: A Crucial Source Paved Way for Artificial Intelligence

Industry Insights

Application of artificial intelligence (AI) has grown like never before. It is stretching its arms in as many fields as possible and changing surprisingly contributing to achieve newer goals. Artificial neural networks have recently found importance, and a MIT’s research suggests that training a particular sub-network will help in making final prediction. This will help reduce expensive process altogether and save time.

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Growing application of artificial intelligence has increased security issues experienced in smartphones. Through a collaborative study, IBM and MIT researchers concluded that compressed AI models could be easier to attack. Therefore, researchers suggested adding a mathematical constraint during the quantization process. With this approach, errors can be limited and even the compressed learning models can work efficiently than full-precision models.

Increasing interest among various players for research is likely to expand the global artificial intelligence market in the coming years. Growing integration of artificial intelligence in different areas is projected to draw a revenue of US$3.06 bn by 2024. According to Transparency Market Research report, the global artificial intelligence market may experience a phenomenal growth at 36.1% between 2016 and 2024.

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Data – a Crucial Source Paved Way for Artificial Intelligence

Today, data has become an integral source for any organization, be it, big or small. Along with this, growing use of cloud-based services and high demand for intelligent virtual assistants has augmented growth in the global artificial intelligence market. Additionally, integration of artificial intelligence is also helping overcome challenges due to high computing power, high data volumes. Further, it also helps improve data storage.

Dominance of North America is clearly seen in the global artificial intelligence market, as the technological base in the region is strong and is constantly working on enhancing working of AI. Growing acceptance for advanced technologies and rise in cloud-based services has further augmented demand in North America artificial intelligence market.

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