Artificial Intelligence Market Growth A leading technology research firm released an estimate on the growth of the Artificial Intelligence market. Moreover, the numbers and growth rate are highly impressive.
Market Research Future published a report entitled: “Artificial Intelligence Market information by System Type, by Services, by Application and Region – forecast to 2027”.
Furthermore, the report estimates a total market size of the global artificial intelligence industry to reach USD 38.46 billion!
In addition, Market Research Future predicts the industry to grow at a compound annual growth rate of 39.18% by 2025.
Of course, the definition of “artificial intelligence” in the workplace skews.
Some firms will claim to use the technology, but it is not actually making any decisions. As a result, of a lack of reliability large corporations will run an Ai system simultaneously to a human system to watch. As a result, these firms will claim to use Ai, when in fact they are only tangentially advised by the technology if at all.
80% of enterprises already have some form of AI (machine learning, deep learning, etc.) in production today.
Of course we have even larger estimates of Ai’s market potential. Grandview Research published the below chart which expects $90 billion by 2025.
But, of course other research firms have the total market having passed $60 billion in 2020. But, it all depends on how you define “artificial intelligence” in the workplace, which will have one million different interpretations.
Often an underling will say they are using AI, only to be untruthful with their superior. As using Ai these days is a sign of technological sophistication, whereas just a short decade ago, it was still a suspect technology. Today, it has become a badge of innovation.