COVID-19 is Accelerating Retailer Digital Transformation
According to the latest worldwide market study by Juniper Research, the value of transactions processed by smart checkout technologies, where the fixed checkout process is replaced by a friction-less model, will reach $387 billion in 2025 — that’s up from just $2 billion in 2020.
Artificial Intelligence and Robotics Economic Impact
Artificial intelligence and robotics are growing fast. Globally there are now 113 installed industrial robots per 10,000 employees in the manufacturing sector — that’s an increase from 74 just four years ago. South Korea leads, with 855 installed robots per 10,000 employees.
Strategies for AI Enabled Economic Advancement
“Responsible AI can bolster that competitiveness while reflecting advanced thinking about economic resilience and well-being of populations. Nonetheless, falling behind is dangerous. Governments should weight AI and data competitiveness as heavily as other economic and social improvements and embrace a long-term, strategic approach.”
IoT Machine Learning and AI Services Gain Momentum
The inherent value of data is increasing, and that value is stimulating the Internet of Things (IoT) advanced analytics market, with the emergence of accessible out-of-the-box and off-the-shelf machine learning (ML) and artificial intelligence (AI) solutions.
Emerging Tech Clusters in Financial Services
WEF explores how emerging technology clusters are changing the financial services industry. Artificial Intelligence, Internet of Things, Cloud Computing and 5G Wireless offer new opportunities. Here are three ways in which we will begin to experience the effects of these technology clusters.
Top 3 Factors for Business Automation Success
“Looking at respondents from larger companies that are meeting their automation targets, we found three distinguishing factors: they make automation a strategic priority, focus on people as much as technology, and develop an operating model that enables scaling.”
via McKinsey
Mobile Robotics Growth Opportunity for Cloud Providers
With the popularization of mobile robotics in a wide range of industries, more organizations will store the collected data from these robots in public cloud services, and then use that data to train more advanced AI algorithms that enable robot cognition.
Intelligent Virtual Assistant Revenue to Reach $50.9 Billion
The global intelligent virtual assistant market — including text-to-speech and speech recognition — is projected to reach $50.9 Billion by 2030, growing at a CAGR of ~6% from 2020 to 2030. North America will dominate the market during the forecast period.
via Transparency
Business ‘Intelligent Automation’ Market Grew by 65 Percent
Intelligent Automation in Business Processes (IABP) includes solutions that use a combination of Robotic Process Automation (RPA), Artificial Intelligence (AI), and advanced analytics to improve business processes. The IABP market, which grew 65% in 2019, will endure muted growth in 2020 due to COVID-19.
via Everest Group
Reskilling Talent: Preparing for The Future of Work
Demand for physical and manual skills in repeatable tasks will decline by 30 percent, while demand for literacy and numeracy skills would fall by 20 percent. In contrast, the demand for technological skills will rise by more than 50 percent, and the need for complex cognitive skills will increase by one-third.
via McKinsey
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