According to IMARC Group, the global artificial intelligence market size reached US$ 40.21 Billion in 2020. Artificial Intelligence (AI) refers to the computational tools that can mimic the perception, learning, problem-solving, and decision-making capabilities of the human mind. It has become an integral part of our everyday lives with the wide availability of computer systems that can process all that data faster and more accurately than humans. In recent years, AI has gained traction as its integration with several devices results in improved speed, reduced human errors, enhanced accuracy and additional precision.
The global artificial intelligence market is driven by rapid digitization and widespread adoption of cloud-based applications and services across diverse industry verticals. In the healthcare industry, AI is utilized to manage and analyze data for performing clinical diagnosis and suggest appropriate treatment plans for an ailment. There has also been an extensive utilization of AI-integrated systems in the information technology (IT), telecommunication, healthcare, automotive and banking, financial services and insurance (BFSI) sectors for analyzing large amounts of data and extracting insights regarding overall operational efficiencies and consumer experience. Besides this, various social media and e-commerce platforms are employing AI-based algorithms, chatbots and pricing optimization, lead generation and supply chain optimization systems to enhance customer engagement. Moreover, several leading companies are developing advanced technologies, which are projected to provide a positive outlook to the market. For instance, IBM has been advancing AI-driven technologies for enterprises and has pioneered the future of machine learning systems for multiple industries. Looking forward, the market is further expected to exhibit strong growth during the next five years (2021-2026). A recently latest research report the increasing utilization of robots for surgical and rehabilitation procedures in the healthcare industry is one of the largest key factors driving with the strong growth and deamd of the artificial intelligence market. Robots can efficiently conduct minimally invasive (MI) surgeries for neurologic, orthopedic and laparoscopic procedures. Narrow/weak artificial intelligence represents the most popular type Based on the type, the market has been segmented into narrow/weak and general/strong artificial intelligence. At present, narrow/weak artificial intelligence exhibits a clear dominance in the market. Breakup by Offerings On the basis of the offering, the market has been segregated into hardware, software and services.
Machine learning holds the largest market share The market has been analyzed based on the technology into machine learning, natural language processing, context-aware computing, computer vision and others. Machine learning currently accounts for the majority of the total market share. Intelligence systems dominate the market Based on the system, intelligence systems represent the leading segment in the market. Other major systems include decision support processing, hybrid systems and fuzzy systems.
If you need any kind of information on this article related topic click here: AI Workflows
PERFECTION IS ACHIEVED NOT WHEN THERE IS NOTHING MORE TO ADD, BUT WHEN THERE IS NOTHING LEFT TO TAKE AWAY.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed malesuada faucibus ex nec ultricies. Donec mattis egestas nisi non pretium. Suspendisse nec eros ut erat facilisis maximus. In congue et leo in varius. Vestibulum sit amet felis ornare, commodo orci ut, feugiat lorem.Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed malesuada faucibus ex nec ultricies. Donec mattis egestas nisi non pretium. Suspendisse nec eros ut erat facilisis maximus. In congue et leo in varius. Vestibulum sit amet felis ornare, commodo orci ut, feugiat lorem.