The market for AI has seen a significant rise in the last few years with the advent of blockchain and the evolution of ever more sophisticated constructs aimed at solving complicated business tasks and optimizing costs. GraphGrail Ai means to storm the market, inducing it to grow even further with the arrival of healthy competition to challenge the industry giants.
According to IDC analysts, for a third of Fortune 500 companies, revenues from information products will grow by 50% by the end of 2017 compared to the rest of the range of products and services. An important source of revenue will be the monetization of data. The amount of data created in the world (10 zettabytes in 2015) will grow to 163 zettabytes by 2025. In addition, IDC expects that more than a quarter of this data will, by virtue of its nature, be real- time data with 95% coming from the Internet of things.
The collection of data for analysis is one of the main purposes of the Internet of things platforms. To solve this problem, developers are moving to training and automation of systems with the help of artificial intelligence (AI). In 2018, investment in AI systems is expected to increase, as companies see real benefits from these investments.
According to the data set out in the review article of Forbes, the data analytics market expects rapid growth. According to IDC analysts, the world market (PAM) of large data analysis will amount to $ 187 billion in 2019 with a growth of more than 50% in a five-year period.
By 2020, predictive analytics will attract 40% of gross investment in business solutions.
According to Wikibon, the Big Data market will grow from $ 18.3 billion in 2014 up to 92.2 billion dollars with an annual growth (CAGR) of 14.
Figure 1. Growth of the Big Data sector will be 14.4% per year
IDC also predicts that global costs for cognitive systems will reach about $ 31.3 billion with an annual growth rate (CAGR) of 55%. More than 40% of the costs for cognitive systems will go to software, including complex cognitive solutions (namely: text and enriched media data, tagging, searching, machine learning, categorization, clustering, hypothesis generation, question- answer systems, visualization, filtering, signaling and navigation).
Figure 2. Revenues of the world market for data analysis by segments
Service 451 Research’s Total Data Market Monitor also predicts the growth of the data analysis market to 132 billion dollars in 2020. Statistical service of the Statistician predicts the revenues of the Artificial Intelligence market by 2025 at a rate of $ 59 billion.
Figure 3. Revenues of the world market of Artificial Intelligence, from 2016 to 2025 (in millions of US dollars). Revenues from the artificial intelligence (AI) market worldwide, from 2016 to 2025 (in million U.S. dollars)
The main drivers of the market are social networks (including future blockchain giants like Status), messengers, startups, developing chat bots, smart assistants. Based on the report of the analytical company CB Insights on the market of artificial intelligence, from 2012 to early 2017, startups in the field of AI have attracted 2320 rounds of investments in the amount of 15.4 billion dollars.
Since 2012, corporations have acquired more than 200 startups in the field of artificial intelligence. According to the number of acquisitions, Google leads as it bought 11 companies. In second place is Apple (7 acquisitions), and in the third place is Facebook (5 companies).
Why is artificial intelligence gaining momentum right now? After all, scientists have been engaged in cognitive technology development for more than 70 years. Two factors have coincided and have brought about this change — the growth of data volumes (the so-called big data) and the emergence of powerful processors capable of processing this data relatively quickly.
Nvidia, which specializes in fast processors for gamers, now officially states that its equipment can be used to train neural networks.
In the report, startups are considered to be standing at the junction of artificial intelligence and other spheres (medicine, education, commerce, etc.)
The natural language processing market (NLP) in 2016 was estimated by Market And Markets at $7.63 billion, with growth to 2021 to $16.07 billion, with an average growth rate of 16.1%. The company believes that the main drivers are the growing demand for a more advanced level of user experience, increased use of smart devices, increased investment in healthcare, the growing use of network and cloud business applications, and the growth of M2M technologies.
Figure 4. Investments in Artificial Intelligence, by categories, 2016
The market is growing rapidly. Artificial intelligence is creating a new market for communication with customers.
Developments in the field of creating bots on the basis of AI are also ongoing in companies like Facebook (FB, NASDAQ), Microsoft (MSFT, NASDAQ) and Google (GOOGL, NASDAQ). They are confident that the new technology will dramatically increase the efficiency of commercial applications.
Classical telephone services, such as a telephone informer, reduced the corporate costs of telephone services by more than 90%. Chat bots with artificial intelligence (AI) elements will open even more opportunities for interaction with customers and will ensure revenue growth for IT companies.
Bots based on artificial intelligence will advise clients on issues of services, accept complaints, wishes, sell goods and services. This will allow them to be most similar in communication with real human advisers.
Facebook has created a platform for commercial chat bots. Each company will be able to have its own chat-bot in Messenger and sell products and services directly to Facebook users.
Microsoft is developing artificial intelligence capable of understanding speech and able to communicate in speech, which will be implemented in the voice assistant Microsoft Cortana. According to Microsoft, the interaction of man and computer in a natural language will play an increasingly important role in our lives — from ordering pizza to writing programs.
Taking into account the development of the market and the prospects for its growth, GraphGrail Ai has decided to introduce its offering and allow developers to tailor their constructs. This mode of operation allows for the creation of competition on a largely centralized market revolving around a handful of major players.
With the advent of blockchain technology and its application on the GraphGrail Ai platform, the market is sure to experience significant growth as instruments for the development of powerful constructs become concentrated in the hands of more talented and aspiring professionals.
