Artificial Intelligence (AI), has taken the development and capabilities of computers and robots to another level. Techniques such as machine learning and neural networks are expanding the abilities of technologies thereby making them analyze contextual data to not only perform tasks but also think in a human manner.
AI is having an enormous impact on almost every industry. Companies are building up their connected device ecosystems with the help of AI in order to advance their productivity. For a fact, the impact of AI is highly increasing with new advancements. According to a report published, the global artificial intelligence industry is anticipated to garner $169.411 billion by 2025.
And why not, the investments in the industry is growing by every passing day. Sectors such as healthcare, e-commerce, banking and payments, supply chain logistics, and marketing are already experiencing the wonders of AI. On the other hand, the stakeholders in the industry are further spending in research and developments to introduce novel ways in which AI can advance the existing technologies.
Moreover, the key market players are adopting various strategies such as the launch of new product and company collaboration to enhance their services along with meeting the needs of the consumers. At the same time, a number of business activities are occurring in the market field. The following are some of the recent happenings in the industry.
The new product launch is amongst the highly trending strategies followed by the stake holders. The market players aim on increasing stakes along with providing the best solutions to the customers. Recently, Intel, an American multinational corporation and technology company has announced to bring new AI, based Internet of Things (IoT) with functional safety, and concurrent capabilities. The new AI capabilities will be introduced via the 11th Gen Intel Core processors along with range of Intel Atom x6000E, and Intel Pentium and Celeron N and J series.
The launch and innovation aim to conquer the challenges experienced in the IoT industry such as edge complexity, the over-all budget of ownership, and an array of environmental circumstances. Moreover, the new range of processors would be beneficial for various sectors including healthcare, industrial, transportation, retail, and hospitality.
Other than this, the companies in the industry are investing and researching various ways to advance existing technologies with the help of AI. Also, the companies are strategically collaborating to enhance productivity and processes. An innovative engineering studio, Whitespace, in association with IBM is working on such a project to innovate histopathology services. The studio is aiming to pursue the latest generation AI solutions from the European Medicines Agency (EMEA) to assist London based PFIZER Healthcare Hub. Moreover, the involvement of AI aims to innovate healthcare services and escalate the development of digital pathology.
The AI is imprinting its impacts in such an innovative way that industries can foresee its huge potential. In addition, the investments in AI technologies are highly increasing with its popularity. As the industries are majorly expanding, the need for analyzing and interpreting the huge amount of data is increasing as well. This factor has greatly contributed to market growth. Though the industry is still facing a handful of challenges regarding the lack of trained and experienced staff.
However, factors such as the growing adoption of AI in developing regions, the evolvement of smarter robots, and the implementation of reliable cloud applications are anticipated to create a number of opportunities for the market players. Nevertheless, with the increasing rate of customer satisfaction, the focus on providing the required solutions is growing as well by the market players. Moreover, this would assist the industry to grow exponentially and accomplish great prospects in the near future.
Hi, I am Joseph, one of the team leaders here at TechnoInnovationZ. We are at TechnoInnovationz encourages the organizations to make solid vital objectives supporting the up and coming tech news and information base given by our top analysts around the world.