Artificial intelligence (AI) is getting seemingly integrated with business processes, opening new horizon in human thinking capabilities. Business processes across the industries have witnessed the game-changing potential of AI tools, methods, and models. New algorithms and machine learning models are finding ways to business models, with the final objective on improving organization’s bottomline by opening new frontiers in automation. Apart from the economic value potential, technologies that harness AI in IoT has become a key accelerant for growth of the artificial intelligence market.
The business propositions underlying AI are expanding at an explosive rate. Smart factories, autonomous vehicles, IoT frameworks in financial sector, and AI-empowered telecom networks are some of the areas where market potential are witnessing disruptive revenue potential. The global valuation of the artificial intelligence market is projected to reach a whopping US$ 2.8 Trn by 2030.
Despite the rise in use cases of AI in business landscape, getting AI to scale entails substantial costs, time, and reskilling of workforce, globally.
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Several Industries Bet Bigs on Artificial Intelligence Market by Exploiting Technologies at Scale
The quest for embedding AI in enterprises has laid bare the efficiencies and inefficiencies of the prevalent approaches in the industrial sector. Of particular relevance are AI models that enable enterprises to adopt them at scale. Over the years, the strategies to integrate AI with the workflows of core business processes have become more organized. The buzz that AI has generated in boardrooms has raised the ante for players in the artificial intelligence market.
New machine learning platforms and some striking advancements by technology companies are fueling the growth of the artificial intelligence market. The adoption of AI platforms among businesses in the financial and telecom sectors are opening new possibilities for pioneers and disruptors. Stakeholders in the artificial intelligence market thus need to embedding AI in phased manner to capture value-grab opportunities in the near future.
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