Predictions for the Artificial Intelligence Industry

Enterprise digitalization and surging adoption of IoT applications have led to voluminous amounts of complex structured and unstructured data that require processing to draw meaningful insights. A Frost & Sullivan voice of customer (VOC) global survey on artificial intelligence (AI) finds that 43% of enterprises list data-centricity as a key business objective. They are now dedicated to unlocking the potential data holds and leveraging AI to support business outcomes.

Access to AI is becoming more democratized. The technology that once only data scientists could understand and leverage is shifting into solutions tailored for business stakeholders. Frost & Sullivan expects that 2023 will witness accelerated adoption of AI, with enterprises focused on building data readiness for AI, using a multimodal approach to use case deployments, and adopting best practices in ethical AI. Frost & Sullivan also expects the ICT ecosystem to mature significantly. This growth will be backed by strategic partnerships that provide industry solutions and IT services as well as infrastructure services offered through new business models to create strategic differentiation and enhance customer value.

In this study, Frost & Sullivan offers predictions for the AI industry in 2023.

Author: Hemangi Patel