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] IDC predicts that by 2022, 75% of enterprises will be using AI solutions to analyze data and glean actionable, innovation-driving business insights.
• [New] For the global mobility industry, the two key technologies that will come into play in 2020 are big data analytics and artificial intelligence.
• [New] The IDC predicts that by 2025, 75% of organizations will be investing in employee retraining in order to fill skill gaps caused by the need to adopt AI.
• [New] The future is intelligent: By 2030, artificial intelligence (AI) will add $15.7 trillion to the global GDP, with $6.6 trillion projected to be from increased productivity and $9.1 trillion from consumption effects.
• [New] Global Artificial Intelligence in Ultrasound Imaging Market is growing at a stable CAGR in the forecast period of 2019-2026.
• [New] Increasing levels of physical and cognitive human augmentation will become prevalent as individuals seek personal enhancements over the next 10 years - creating a new consumerisation effect where employees seek to exploit their personal enhancements to improve their office environment.
• [New] Some of China's most prominent AI start-ups were put on a US trade blacklist this year, as the industry faces greater scrutiny from the world's largest economy: The politicisation of AI threatens to further widen the divide between the world's two biggest economies.
• [New] North American banks could save $70 billion by 2025 by using technology such as automation and artificial intelligence to trim workers and boost productivity.
• [New] AI augmentation, defined as a human-centered partnership model of people and AI working together to enhance cognitive performance, could generate $2.9 trillion of business value by 2021.
• [New] By the year 2022, AI could be a global market worth well over $50 billion.
• One-quarter of all customer service and support operations will integrate AI chatbots by next year, up from less than two percent in 2017.
• The global business intelligence and analytics market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2018-2022).
• Registering a 37.2% CAGR during the forecast period (2019-2024), the Global AI in BFSI market is expected to reach $20,017.9 million by 2024, from $3,091.9 million in 2018.
• Over 50% of customer queries may be managed today via AI-based chatbots and the global AI enabled market will reach $2.2bn by 2024.
• Global spending for AI systems will reach $97.9 billion in 2023, a staggering increase from the projected $37.5 billion that will be spent this year.
• Global spending on AI will reach $57.6 billion by 2020 and 51% of businesses will be making the transition to AI with blockchain integration.
• Growth in the AI healthcare market is expected to reach $6.6 billion by 2021 - a compound annual growth rate of 40% - and the analyst firm predicts that when combined, key clinical health AI applications could potentially create $150 billion in annual savings for the U.S. healthcare economy by 2026.
• AI could double economic growth rates in 2035 by changing the nature of work and could increase labour productivity by up to 40 percent.
• The Business Intelligence in Healthcare Market is expected to grow worth of USD +10 Billion and at a CAGR of +12% over the forecast period 2019-2025.
• The Artificial Intelligence In Aviation market is expected to be valued at USD 152.4 Million in 2018 and is likely to reach USD 2,222.5 Million by 2025, at a CAGR of 46.65% during the forecast period.
• Artificial Intelligence (AI) is predicted to add £232 billion to the UK economy by 2030, and one industry set to benefit from what it offers is leisure.
• In the coming years, online businesses are expecting to deploy new technologies such as artificial intelligence and even voice assisted systems to open up a whole new world for the online retail experience.

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Last updated: 21 January 2020