Artificial Intelligence Market Description
The global artificial intelligence (AI) market is valued at $3.5 billion and is estimated to reach $26.4 billion by 2023 with a CAGR of roughly 40 percent. Machine learning, predictive analytics, natural language processing, and image recognition are the most commonly used technologies in the AI universe and robotics, vision, and speech are also contributing significantly toward the industry’s growth. In the next 5-7 years, AI could replace 50 percent of the human workforce with automated robots, eliminating almost 2 million jobs. By 2022, one in five workers will utilize AI technology to perform their job. Moreover, robots could be the preferred workforce accounting for more than 3 million jobs globally by 2030.
The report provides an insight into the AI market in leading countries such as the U.S., China, India, Germany, and Japan. These regions have witnessed a tremendous growth in various industries due to a high level of process automation. The report includes key driving factors in AI technology and pricing analysis across multiple companies. Product innovation in several companies is constantly evolving to meet the end-user expectation. Thus, various organizations are coming up with innovative products, which are technically advanced to meet the high demands.
Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.