AI Developers Drive New Demand for IT Vendor Services
Spending on AI systems will reach $97.9 billion in 2023 — that’s more than two and a half times the $37.5 billion that will be spent in 2019. The compound annual growth rate (CAGR) for AI in the 2018-2023 forecast period will be 28.4 percent.
Why IT Modernization is a Catalyst for Digital Success
“Our research at the MIT Center for Information Systems Research has found that companies cannot scale new digital business models if they have not digitized. In other words, they need core systems, processes, and data that provide operational excellence.”
via Sloan Review
Progress Report: State of AI in the Enterprise
According to new survey findings, early adopters are ramping up their AI investments, launching more initiatives, and getting positive returns. Cloud-based cognitive services are increasing adoption by reducing the investment and expertise required to get started.
AI Systems Spending Will Reach $10.8B in Europe
Both the private and public sectors are looking at AI to streamline processes and enhance customer and citizen experience. As a result, Western European Cognitive or AI Systems spending is poised to ramp up even further, reaching $10.8 billion by 2022 – that’s a 39% five-year CAGR.
via IDC
Global Learning Crisis: Millions Without Basic Skills
The jobs of the future will require students to have strong cognitive skills in mathematics and literacy, as well as soft skills such as problem-solving and creative thinking, to enable them to adapt to a quickly changing environment.
Robotic Collaboration with Humans in Timber Construction
Digitalization has found its way into timber construction, with entire elements already being fabricated by computer-aided systems. The raw material is cut to size by the machines, but in most cases it still has to be manually assembled to create a plane frame.
via ETH Zurich
New Use Cases for Artificial Intelligence Drive Demand
There’s been a significant increase in enterprise investment on technologies that analyze, organize, access, and provide advisory services that are based on use cases for unstructured data. In fact, worldwide spending on cognitive and artificial intelligence (AI) systems will reach $19.1 billion in 2018 — that’s an increase of 54.2 percent over the amount spent in 2017.
Cognitive and AI Systems Revenue will Reach $57.6 Billion
The retail and banking industries are forecast to spend the most on cognitive and AI systems in 2017 with investments of $1.74 billion and $1.72 billion, respectively. The discrete manufacturing, healthcare, and process manufacturing industries are also forecast to spend more than $1 billion each this year.
Source: Digital Lifescapes
Cognitive Systems Global Market Opportunity in Banking
“Cognitive systems with high-definition technology can help in determining the world’s most composite data analysis difficulties by entering into the complexity of exploiting the power of big data, machine learning, natural language processing, and automated reasoning technology.”
Source: FMI
Creating a Magna Carta for the Global AI Economy
“We stand at a watershed moment for society’s vast, unknown digital future. A powerful technology, artificial intelligence (AI), has emerged from its own ashes, thanks largely to advances in neural networks modeled loosely on the human brain.”
Source: World Economic Forum
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