Artificial intelligence regarded as a unique combination of technology and mind; has captured our day-to-day lives and is spreading its roots in all fields. Over the past decade, it has emerged from a field of promises to a field of actual delivery. AI algorithms are being majorly adopted by multinationals such as Google, Facebook, and Microsoft. Furthermore, open source toolkits like CNTK by GitHub are being used by Amazon and Baidu in China.
The Artificial intelligence Market is predominantly driven by research efforts undertaken in developing deep learning and machine learning platforms. FBLearner Flow is Facebook’s popular machine learning algorithm. Deep learning, multi-agent systems, deep neural networks, autonomous agents, biologically inspired neural networks (spiking ANN), and image processing, are already a reality. It is becoming a defining trend of our time and is positively impacting national security, finance, social media, economic development, etc.
One of the interesting application of AI includes beer brewing and IntelligentX is formulating world’s first machine learning and AI-based algorithms to brew new versions of beer that are expected to be hangover-free. Black AI, Golden AI, Pale AI, and Amber AI are the four beer types that comprise of IntelligentX product lineup.
Artificial intelligence has proven to be a boon for businesses and their customers. Major companies like Spotify, Apple, and Alibaba are pushing their boundaries to adopt machine learning to make disruptive innovation easier to implement. Alibaba’s virtual storefronts provide personalized experience to its users with the help of its Ali Xiaomi platform, which is a conversational chat-bot that engages with the shopper and assists the machine to understand what the shopper is looking for.
Self-driving cars are another key application of artificial intelligence and is evolving from the futuristic dream to modernize automation industry. Self-driving cars are expected to eliminate the need for motorists, which in turn will banish any chances of accidents due to human error. With AI, smart cars are given the ability to think and navigate in an infinite range of driving scenarios. NVIDIA uses deep learning and AI to create a computational defense driving experience and prevent any possible collision. Also, Tesla will be soon launching their autonomous car which will have a built-in autopilot software. It is called as “full self-driving” indicating more advanced autonomous features that Tesla’s previous autonomous vehicles.
AI has expanded the healthcare accuracy horizon by improving the efficiency of real world data for clinical assertions. The use of electronic health records (EHRs) that manages the billing activities, drug confirmation, home-use settings, disease registries, make reimbursement decisions, etc. with the help of patient’s smart phone. Continuous glucose monitoring devices (CGMs) has integrated smartphones, edge computing, and the cloud technology) to analyze and provide glucose levels instantaneously. Medtronic’s MiniMed 670G Insulin Pump System has passed all the regulatory standards to generate personalized insights about a patient’s insulin usage, exercise patterns, carbohydrate intake, etc. This device can access the web-based CareLink software to provide review of reports online. Some of the other application of AI comprise of speech recognition, natural language generation, virtual agents, AI-optimized hardware, machine learning platforms, robotic process automation, decision management, deep learning platforms, biometrics, text analytics, and NLP.
North America has a strong market presence due to significant government funding, advancement in technology, and presence of key players. Recently, the U.S. has signed an executive order aiming to launch an initiative to drive and ensure the country’s AI leadership namely, research & development, governance, infrastructure, and international engagement.
Some of the key players operating in the market include Lifegraph; Atomwise, Inc.; Sense.ly, Inc.; Baidu, Inc.; H2O ai; NVIDIA; IBM Watson Health; Enlitic, Inc.; Zebra Medical Vision, Inc.; Intel Corporation; Google LLC; and Microsoft Corporation.
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