Artificial intelligence (AI) Robots is arguably the foremost exciting field in artificial intelligence. It’s definitely the foremost controversial: everyone agrees that a mechanism will add a production line, however there is not any consensus on whether a robot will ever be intelligent. Factors like the growing adoption of customer-centric marketing methods, increased use of social media for advertising, and increase in demand for virtual assistants are conducive to the expansion of the AI in promoting market.
Despite these challenges, according to a new report from Tractica, the commercial outlook for AI has never been stronger. The market intelligence firm forecasts that global revenue from AI software implementations will increase from $8.1 billion in 2018 to $105.8 billion by 2025. This forecast represents a significant upgrade of Tractica’s previous projections, last published at the end of 2017, owing to the addition of new real-world use cases across multiple industries, as well as increased guidance for key use cases in several sectors.
The types of challenges currently faced by the AI sector are to be expected as we move from a hype phase into a reality phase as part of the cycle of market development,” says research director Aditya Kaul. “Tractica sees these challenges as part of the maturity curve for AI, where the next few years will see a sobering of expectations, while the momentum around use cases and applications continues to build.”
Tractica’s report, “Artificial Intelligence Market Forecasts”, provides a quantitative assessment of the market opportunity for AI across the consumer, enterprise, and government sectors. The report includes market sizing, segmentation, and forecasts for 294 AI use cases distributed across 30 industries, and 165 unique use cases. The market forecasts span the period from 2017 through 2025 and include segmentation by the six fundamental AI technologies: machine learning, deep learning, computer vision, natural language processing, machine reasoning, and strong AI. Revenue forecasts are further segmented by software, hardware, and services, in addition to segmentation by world region.