Artificial Intelligence Applications Forecasted to Soar

Artificial Intelligence Applications Forecasted to Soar

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.

I tend not to pay much attention to the actual dollar figures in these kinds of forecasts. I just don’t have faith in any set of assumptions drawn from this very early stage in the development of artificial intelligence. I share it, however, because: a) analysts are now trying to quantify the opportunity, which is interesting in itself, and b) the applications outlined at somewhat interesting.

“In almost every industry, including some very traditional ones, new approaches to age-old problems are being trialed using artificial intelligence,” says principal analyst Bruce Daley. “The business questions being addressed range from where to plant crops to how to detect fraud. The most highly affected industries are likely to be those with large amounts of data, where there are high rewards for making decisions quickly.”



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