AI News, Artificial Intelligence AI — Over 100 Billion in Revenues by 2025 artificial intelligence
Artificial Intelligence Software Market to Reach $126.0 Billion in Annual Worldwide Revenue by 2025
Artificial intelligence (AI) within the consumer, enterprise, government, and defense sectors is migrating from a conceptual “nice to have” to an essential technology driving improvements in quality, efficiency, and speed.
“The global AI market is entering a new phase in 2020 where the narrative is shifting from asking whether AI is viable to declaring that AI is now a requirement for most enterprises that are trying to compete on a global level,” says principal analyst Keith Kirkpatrick. According to the market intelligence company, AI is likely to thrive in consumer (Internet services), automotive, financial services, telecommunications, and retail industries.
Norway Sets Sail on Autonomous Shipping
Norway is currently working on establishing the world’s first autonomous shipping company by 2020.
Massterly sets its sight on establishing innovative infrastructure and services to design and operate vessels within the maritime industry.
With shipping companies looking to cut cost and emissions all over the world, the introduction of this technology may result in a significant boom for this industry.
The skill set to be able to work within the maritime industry at onshore control centers may also shift to more tech-based proficiencies.
THE AI IN TRANSPORTATION REPORT: How automakers can use artificial intelligence to cut costs, open new revenue streams, and adapt to the digital age
In fact, a study by ride-hailing giant Lyft found that in 2017, almost 250,000 of its passengers sold their own vehicle or abandoned the idea of replacing their current car due to the availability of ride-hailing services.
AI will create significant opportunities for automakers to both reduce production costs and introduce new revenue streams, including self-driving technology, predictive maintenance, and route optimization.
For example, self-driving technology will present a $556 billion market by 2026, growing at a 39% CAGR from $54 billion in 2019, per Allied Market Research.
Many companies are not presently equipped to begin producing AI-based solutions, which often require a specialized workforce, new infrastructure, and updated security protocol.
In The AI In Transportation Report, Business Insider Intelligence will discuss the forces driving transportation firms to AI, the market value of the technology across segments of the industry, and the potential barriers to its adoption.
Warehouse Workers Can Create a Personalized Injury Reduction Program
However, this is starting to change as technology is being applied to help us optimize working conditions, especially when it comes to safety. This is especially helpful in a warehouse setting in cases where simply performing a job can lead to injuries.
To help turn that statistic around, Soter Analytics is providing wearable technology that provides information to workers on an individual basis. While traditionally safety managers have provided information on the optimal way to perform injury-prone jobs, the responsibility is now moving over to individuals.
“We are looking at the safety issues for one person, not a standard.” And Hart says this individual control, based on private analytical feedback, improves overall safety.
Workers can get feedback on how they are currently doing their jobs and ways to improve ergonomics. The wearable device is attached to the back of the employee’s shirt and every time he bends or shifts position the device detects it and calculates in real-time if it’s a hazardous movement.
“It’s a short time, high-quality training program.” Hart points out that this shorter, specific training technique, often called microlearning, has proven to be effective as compared to traditional classroom learning in which 65% of the material is forgotten after one week.
3 Top Artificial Intelligence Stocks to Watch in 2020
The global artificial intelligence (AI) market is projected to grow at a compound annual growth rate of 57% between 2017 and 2025 into a $36 billion market, according to Grand View Research.
Google's AI tools optimize its search results, craft targeted ads, organize digital media for users, and more -- and that convenience consistently locks in its advertisers and users.
Two years ago, Google launched a dedicated AI unit, Google AI, to develop custom chips for machine learning, launch new TensorFlow projects, and accumulate AI research from its staff.
It owns the country's largest search engine, and its moves into the cloud, smart speaker, AI, and driverless car markets largely mirror its Western counterpart's strategies.
However, its growth in voice assistants and AI technologies indicates that it's gradually expanding its ecosystem beyond PCs and mobile devices. NVIDIA generates most of its revenue from gaming GPUs, but it also sells high-end Tesla and T4 GPUs for data centers.
NVIDIA's data center business, which generates nearly a quarter of its revenue, struggled last year as macro headwinds reduced orders from its enterprise customers.
However, its revenue grew sequentially over the past two quarters as the development of new conversational AI platforms -- which require 10-100 times as many parameters as image-based learning models -- boosted GPU demand from hyperscale customers.
Its pending acquisition of Mellanox, which provides networking hardware for data centers, should also broaden its reach across the data center market and improve its bundling capabilities.
- On 6. juli 2020
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