Artificial Intelligence Technologies are Quietly Penetrating a Wide Range of Enterprise Applications
February 5, 2016 at 9:01 PM
The advance of artificial intelligence (AI) technologies has caught the attention of companies and institutions in a wide range of enterprise markets, and executives in almost every industry are considering the potential impact AI will have on their operations, business models, and bottom lines. AI technologies being evaluated and deployed are diverse, yet interrelated, and include areas like cognitive computing, machine learning, deep learning, predictive application programming interfaces (APIs), natural language processing, image recognition, and speech recognition.
A recent report from Tractica forecasts that, as enterprise AI deployments gather increasing momentum, cumulative revenue for the sector will total $43.5 billion worldwide during the period from 2015 through 2024. The market intelligence firm forecasts that the largest application markets for AI will be advertising and media, financial services, manufacturing, oil and gas, and retail. All of these industries work with complex systems and large data sets where companies are finding strong return on investment (ROI) by deploying AI technologies.