White Paper Details
|Tables, Charts, Figures:||4|
|Release Date:||3Q 2017|
From algorithmic news stories to autonomous robotics; from product recommendations to processing patient data; from virtual assistants to voice recognition and far beyond, artificial intelligence (AI) is slowly infusing all manner of industry, society, and life. AI is widely considered one of, if not the next big technological shifts, on par with the industrial revolution, the computer age, and the smartphone revolution, but it is not without diverse market dynamics.
Although AI has been around for decades, it is the convergence of three independent trends that has brought about an explosion in the market. More data, faster hardware, and better algorithms are accelerating research, development, and commercial investment in AI applications at lightning speeds. Those sectors already leading in the digital space are accelerating in AI adoption, as the question of how to better use and monetize data persists. This question will drive adoption across virtually every industry over the next 10 years and beyond. Tractica’s quantitative market assessment forecasts that annual revenue generated from the direct and indirect application of AI software will increase from $1.38 billion in 2016 to $59.75 billion by 2025.
While AI is not the tool for every job, its applications are vast; Tractica has identified 215 commercial use cases across 29 industries. So many manifestations of AI are part of its impressive potential, but they also make it difficult for adopters and end users to understand what it is and is not, how it is different from other technologies, and when it would be the right solution to their specific problem(s). In Tractica’s analysis of 215 use cases, a number of overarching themes emerged, illustrating critical dynamics to watch across the broader AI market. The key themes identified by Tractica are as follows:
- All AI falls into three macro categories
- AI is shorthand for a combination of technologies
- AI can be overt and visible or implicit and invisible
- AI applications mark the next evolutionary step in digital transformation
- AI-driven personalization and operations automation will become interconnected
- AI maturity is highly fragmented
- AI is an extension of brand interactions
- AI’s manifestation will shift alongside other technology macrotrends
- AI Is alluring, particularly in hypercompetitive markets
- AI promises both diverse benefits and diverse challenges
This Tractica white paper presents 10 overarching trends that characterize the entire AI market. These trends are based on extensive qualitative and quantitative research Tractica has conducted across 215 use cases spanning some 29 industries. These trends were collated from a larger report published in Tractica’s Artificial Intelligence Use Cases report, which substantiates these findings with real-world examples, industry context, and current and cumulative revenue associated with each use case. This white paper also includes strategic recommendations for anyone looking to take advantage of the AI market opportunity. This white paper is published in partnership with The AI Summit, which is being held December 5-6, 2017 in New York.
Key Questions Addressed:
- What are some of the common characteristics of AI use cases that will help to define market development in the years ahead?
- How will various industries be impacted by different types of AI technology deployments?
- How are different types of organizations assessing the business value and impact of AI implementations?
- How is AI being viewed in the context of broader digital transformation initiatives?
- How will AI deployments have an impact on customer experience and brand interactions?
- How will the focus of AI use cases begin to move beyond Big Data and on to capabilities that mirror human perception, such as language and vision?
Who Needs This Report?
- Artificial intelligence technology companies
- Software companies
- Semiconductor and component vendors
- Service providers and systems integrators
- End-user organizations deploying AI systems
- Industry organizations
- Government agencies
- Investor community
Table of Contents
- Key Themes across Artificial Intelligence Use Cases
- All Artificial Intelligence Falls into Three Macro Categories
- Artificial Intelligence Is Shorthand for a Combination of Technologies
- Artificial Intelligence Can Be Overt and Visible or Implicit and Invisible
- Artificial Intelligence Applications Mark the Next Evolutionary Step in Digital Transformation
- Artificial Intelligence-Driven Personalization and Operations Automation Will Become Interconnected
- Artificial Intelligence Maturity Is Highly Fragmented
- Artificial Intelligence Is an Extension of Brand Interactions
- Artificial Intelligence’s Manifestation Will Shift alongside Other Technology Macrotrends
- Artificial Intelligence Is Alluring, Particularly in Hypercompetitive Markets
- Artificial Intelligence Promises Both Diverse Benefits and Diverse Challenges
- Recommendations and Conclusions
- Acronym and Abbreviation List
- Table of Contents
- Table of Charts and Figures
- Scope of Study, Sources and Methodology, Notes
- Additional Reading
- The AI Summit San Francisco
List of Charts and Figures
- Cumulative Artificial Intelligence Software Revenue, Top 10 Use Cases, World Markets: 2016-2025
- Tractica Research Methodology
- Top 15 Artificial Intelligence Use Cases by Category
- Artificial Intelligence Technology Categories and Combinations