According to a new market research report published by Credence Research Artificial Intelligence Market (By Technology: Deep Learning, Robotics, Digital Personal Assistant, Querying Method, Neuro-Linguistic Programming and Context-Aware Processing; By End-use Industry: Manufacturing and Processing, BFSI, Oil and Gas, Healthcare, Agriculture, Automotive and Transportation, Retail and Others) - Growth, Future Prospects, and Competitive Landscape, 2017-2025, artificial intelligence market was valued at US$ 1.36 Bn in 2016 and is expected to grow at a CAGR of 52% during the forecast period from 2017 to 2025.

The complete report is available at http://www.credenceresearch.com/report/artificial-intelligence-market

Market Insights

Artificial intelligence can be defined as the technology used to create intelligent computing system. The systems equipped with artificial intelligence do not require constant human intervention or supervision to carry out the designated process. A system integrated with artificial intelligence has the ability to learn new things, store information and implement it according to the situation. This technology has significantly reduced the dependency on human operators, thus helped in reducing considerable human errors and aided in attaining optimum productivity in an organization. Owing to the merits offered by artificial intelligence, companies across different end-use verticals have been adopting artificial intelligence at a significant rate to improve their product quality and productivity.

Many international giants are engaged in the development of a variety of technologies which are categorized under the field of artificial intelligence. Technologies such as deep learning, intelligent robots, neuro-linguistic programming and querying method, among others have been aiding in the enhancement of the existing systems to produce maximum output. In addition to the CNC machines and robotics, artificial intelligence has also found its application across different industry verticals such as healthcare, oil and gas and automotive and transportation among others. With the merits offered by artificial intelligence, the aforementioned end-user industries are rapidly incorporating this technology in order to achieve optimum results. Consequently, the demand for application-specific artificial intelligence is growing at a significant rate and is expected to grow even further in the following years.

Competitive Insights:

Artificial intelligence market is evolving at a significant rate and is characterized by well-established international players, as of 2016. With consistent evolution of artificial intelligence, the developers have been working towards introducing more sophisticated and advanced artificial intelligence systems. The companies are also trying to develop application-specific AI and are perpetually exploring new avenues to enhance the existing processes with the artificial intelligence. Major players in the market include Google, Inc., IBM Corporation, Microsoft Corporation, Nvidia Corporation, Intel Corporation, General Vision, Inc., Numenta, Inc., Sentient Technologies Holdings Ltd., Fingenius Limited, Inbenta Technologies, Inc.

By Outlook

·         Software (SW)

·         Hardware (HW)

·         Services

By Technology Outlook

·         Machine Vision

·         Deep Learning

·         Machine Learning

·         Natural Language Processing

By End use Outlook

·         Law

·         Retail

·         Advertising & Media

·         Automotive & Transportation

·         Agriculture

·         Manufacturing

·         Healthcare

·         BFSI

·         Others

By Industry Vertical

• Healthcare
• Automotive & transportation
• Media & advertising
• BFSI
• IT & telecom
• Retail
• Others (agriculture, law, educational institutions)

Key Trends:

• Consistent evolution of new and advanced artificial intelligence
• Rising adoption of artificial intelligence across different verticals of end-use industries
• Heavy investments towards the development and applications for artificial intelligence by industry giants

The complete report is available at http://www.credenceresearch.com/report/artificial-intelligence-market

Artificial intelligence (AI, also machine intelligence, MI) is intelligence demonstrated by machines, in contrast to the natural intelligence (NI) displayed by humans and other animals. In computer science AI research is defined as the study of "intelligent agents": any device that perceives its environment and takes actions that maximize its chance of successfully achieving its goals.  Colloquially, the term "artificial intelligence" is applied when a machine mimics "cognitive" functions that humans associate with other human minds, such as "learning" and "problem solving".

The scope of AI is disputed: as machines become increasingly capable, tasks considered as requiring "intelligence" are often removed from the definition, a phenomenon known as the AI effect, leading to the quip, "AI is whatever hasn't been done yet." For instance, optical character recognition is frequently excluded from "artificial intelligence", having become a routine technology. Capabilities generally classified as AI as of 2017 include successfully understanding human speech, competing at the highest level in strategic game systems (such as chess and Go), autonomous cars, intelligent routing in content delivery network and military simulations. Source : Wikipedia

What is Artificial Intelligence (AI)?

Artificial intelligence is a branch of computer science that aims to create intelligent machines. It has become an essential part of the technology industry. Research associated with artificial intelligence is highly technical and specialized. The core problems of artificial intelligence include programming computers for certain traits such as:

Knowledge

Reasoning

Problem solving

Perception

Learning

Planning

Ability to manipulate and move objects

Knowledge engineering is a core part of AI research. Machines can often act and react like humans only if they have abundant information relating to the world. Artificial intelligence must have access to objects, categories, properties and relations between all of them to implement knowledge engineering. Initiating common sense, reasoning and problem-solving power in machines is a difficult and tedious approach.

Machine learning is another core part of AI. Learning without any kind of supervision requires an ability to identify patterns in streams of inputs, whereas learning with adequate supervision involves classification and numerical regressions. Classification determines the category an object belongs to and regression deals with obtaining a set of numerical input or output examples, thereby discovering functions enabling the generation of suitable outputs from respective inputs. Mathematical analysis of machine learning algorithms and their performance is a well-defined branch of theoretical computer science often referred to as computational learning theory. [Ref: techopedia.com]

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