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Diverse Applications of AI Will Drive Growth Opportunities Across Verticals
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Artificial intelligence (AI) has long been discussed, but rarely in terms of real-world applications. The past few years have seen a resurgence of the term with applications across industries. In reality, it has existed in many forms and through many approaches over the years. The constant advancement of hardware and breakthrough Machine Learning (ML) algorithms has unleashed a new wave of exponential progress that is set to affect every industry. Investors and innovators face many pitfalls and opportunities.First-mover advantages in AI are strong, and access to data determines the strength of offerings. However, there are business and research dynamics that make the commercialization of algorithms alone challenging. True success in AI depends on access and timeliness of data, drawing insights and utility from the Internet of Things and Big Data paradigms. While all industries stand to benefit from this, the adoption is at different levels. This is primarily due to the ecosystem involvement, focus on innovation, and exiting trends in technology adoption. Given the diverse applications of AI, many large tech companies and vertical leaders are taking keen interest. The provider landscape has many start-ups with extremely innovative solutions and many of these have been a result of university research. The investors and incubators that help these companies grow are also a critical part of the ecosystem. This report will provide an overview of the major trends today and catalysts for future developments. It covers in detail the AI ecosystem, various services available as part of AI, application of AI in enterprises, industry participant initiatives, and the impact on various verticals. The focus is on short- and long-term opportunities for ecosystem building, investment, and research, using case study examples where available. The report also provides a snapshot of some of the key participants in the industry, whose innovations are being increasingly accepted in the real world scenario. The 5 key questions that this report will answer are:• What is AI?• What are the key AI applications in the enterprises?• What are the drivers and restraints in AI adoption?• What are the current trends in AI?• How have some of the industries benefited from AI-enabled solutions?The study covers many providers and their involvement in AI to help readers understand the depth of efforts and initiatives that will lead to many revolutionary innovations in the future across a range of horizontal and vertical applications. The growth opportunities covered in the report also indicate the future course of the industry.Numerous AI applications are still under experimentation, but the potential that the technology has displayed to change the outcomes makes it a very critical part of corporate strategies going forward.
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