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 retail and e-commerce market size is predicted to increase at a CAGR of 42.8% during the forecast period 2019-2025 and acquire a revenue of $19.37 billion by the year 2025.
• [New] The emergence of AI in smart cities the market is expected to provide lucrative opportunities for smart cities' market growth in the coming years.
• [New] Technology research company, Gartner, has predicted that 85 percent of all customer interactions will be automated by 2020, and consultancy Servion believes that artificial intelligence will power 95 percent of all customer interactions by 2025.
• [New] Artificial intelligence is expected to underpin $15.7 trillion of global economic growth by 2030, at a potential rate of nearly 75% compound growth for at least the next several years.
• [New] Although Google Cloud Platform is smaller in market share relative to other hyperscalers, ISG anticipates growth in 2019, driven by Google's strong competencies in artificial intelligence (AI) and machine learning.
• [New] In the year and years to come, the biggest growth of AI in China, and globally, will be coming from more traditional industries starting to embrace and infuse AI into their businesses.
• [New] Spending on artificial intelligence (AI) systems in the Middle East and Africa is expected to maintain its strong growth trajectory as businesses continue to invest in projects that utilize the capabilities of AI software and platforms.
• Artificial Intelligence (AI) is a rapidly advancing area of technology and it is estimated that it will add £630bn to the UK economy alone by 2035.
• Developments in artificial intelligence and robotics will not result in mass unemployment but can actually create high-skilled jobs.
• The Artificial Intelligence in Military Market is projected to grow from US$6.26 Billion in 2017 to US$18.82 Billion by 2025, at a CAGR of 14.75% during the forecast period.
• Global revenue for cloud and enterprise data center hardware for artificial intelligence (AI) will reach almost $50 billion annually by 2025.
• Artificial intelligence is expected to contribute a potential US$15.7 trillion to the global economy by 2030, so it's not surprising that more companies are considering buying an AI firm to bolster their tech capabilities.
• By 2020, penetration rates of enterprise software with integrated AI and cloud-based AI platforms will reach an estimated 87 percent and 83 percent, respectively, among companies that use AI software.
• By 2030, 70 percent of the profits generated by artificial intelligence (AI) technologies will be shared between the U.S. and China.
• The revenue for the chatbots in healthcaremarket is projected to reach $498.1 million by 2029, growing at a compound annual growth rate of 26.29% during the forecast period from 2019-2029.
• Asia / Pacific (excluding Japan) spending on AI systems will reach $6.2 billion in 2019, recording an increase of almost 54% when compared to 2018; spending on AI systems will increase to $21.4 billion by 2023 with a compound annual growth rate of 39.6% over the 2018-23 forecast period.
• The artificial intelligence market in the US education sector is projected to reach a value of almost USD85 million by 2022.
• Spending on AI systems in the Middle East and Africa is expected to maintain its strong growth trajectory as businesses continue to invest in projects that utilize the capabilities of AI software and platforms.
• Gartner expects that AI will create $3.3 trillion (U.S.) in business value by 2021 while a Deloitte survey of our clients found that 81 per cent say AI will be either critically important or very important for their business by 2020.
• Artificial Intelligence (AI) could create £167bn of value annually through the circular economy, while it could slash global emissions by 4%.
• Worldwide spending on AI is expected to rise from $38bn this year to $98bn by 2023.
• For the global economy, too, AI adoption could be a boon, potentially raising global GDP by as much as $13 trillion by 2030, or about 1.2 percent additional GDP growth per year.
• In Japan, Video Intelligence will reach a market size of US$682.1 Million by the close of the analysis period.

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Last updated: 12 November 2019