Applied Artificial Intelligence (AI)
Applied Artificial Intelligence (AI) is a technology that realizes some of the human intellectual activities such as inference and learning on machines.
In recent years, with the promotion of DX (Digital Transformation) that changes people’s lives for the better through the penetration of IT technology, attempts are being made to introduce AI as an effective means in various situations and utilize it in the real world. This is “applied AI.”
Applied artificial intelligence (AI) involves the practical application of AI technologies and methods to address specific real-world problems or enhance processes across various industries. It utilizes techniques such as machine learning, natural language processing, and robotics to automate tasks, analyze data, and improve decision-making.
The primary types of technology in applied AI include machine learning, natural language processing (NLP), computer vision, expert systems, and others. Machine learning (ML), a subset of AI, allows systems to learn from data and improve performance over time without explicit programming, playing a crucial role in creating models that enhance decision-making and automation across different sectors. Components include software and services, with deployment options such as cloud-based and on-premises. Applications span healthcare, automotive, retail, finance , manufacturing, and other industries, serving both large enterprises and small and medium enterprises (SMEs).
The applied artificial intelligence (AI) in market research report is one of a series of new reports from the business research company that provides applied artificial intelligence (AI) market statistics, including applied artificial intelligence (AI) industry global market size, regional shares, competitors with an (AI) in market research share, detailed applied artificial intelligence (AI) market segments, market trends and opportunities, and any further data you may need to thrive in the applied artificial intelligence (AI) industry. AI) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The applied artificial intelligence market size has grown exponentially in recent years. It will grow from $139.63 billion in 2023 to $177.28 billion in 2024 at a compound annual growth rate (CAGR) of 27%. The growth during the historic period can be attributed to the increased availability of data, the rising adoption of cloud computing, growing demand for automation, investment in AI research and development, and regulatory and compliance requirements.
The applied artificial intelligence (AI) market size is expected to see exponential growth in the next few years. It will grow to $462.6 billion in 2028 at a compound annual growth rate (CAGR) of 27.1%. The anticipated growth during the forecast period can be attributed to the expansion of AI capabilities, a growing focus on AI ethics and governance, the rise of edge computing, increasing AI-driven personalization, and enhanced collaboration between AI providers and industry leaders. Key trends expected in this period include the integration of AI with the Internet of Things (IoT), advancements in AI technology, AI-powered automation, AI-driven decision support systems, and AI-enhanced cybersecurity solutions.
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Applied Artificial Intelligence (AI) Global Market Report 2024
The applied artificial intelligence (AI) market size is expected to grow exponentially in the coming years. It will grow to USD 462.6 billion by 2028, at a CAGR of 27.1%. The expected growth during the forecast period can be attributed to expanding AI capabilities, increasing focus on AI ethics and governance, rise of edge computing, increasing AI-driven personalization, and enhanced collaboration between AI providers and industry leaders. Key trends expected during this period include the integration of AI and Internet of Things (IoT), advancements in AI technologies, AI-driven automation, AI-driven decision support systems, and AI cybersecurity solutions.
Increasing data availability is expected to drive the growth of the applied artificial intelligence (AI) market in the coming years. Data availability refers to how accessible and usable data is for analysis and decision-making. Increased data availability is driven by the widespread adoption of digital devices, the expansion of the Internet, and advancements in data storage and processing technologies that enable data to be collected, stored, and accessed. Applied AI leverages this increased data availability to more effectively analyze large amounts of accessible data for enhanced decision-making, improved predictive analytics, and optimization of operations across various departments. For example, a December 2022 report from the Linux Foundation noted that the average end-user organization’s data has grown significantly, reaching 2,208 TB, up 215.43% from the 700 TB reported in 2021. Thus, increasing data availability is expected to drive the expansion of the applied AI market.
Applied Artificial Intelligence In Medicine
For this area of application of artificial intelligence technologies, its ability to collect, analyze information and make logical conclusions is especially relevant. Thanks to this, AI can be used to make a diagnosis, record data, and act as a doctor’s assistant. In addition to these duties, AI can be assigned to determine the patient’s predisposition to the development of specific pathologies, predict the course of chronic diseases, and detect the disease early.
Such programs have already been launched on the Watson supercomputer from IBM, DeepMind Health from Google, and the Face2Gene application from Functional Dependency Network Analysis FDNA is being developed (identification of diseases transmitted genetically from a photograph). In the Russian Federation, work continues on a decision support system using AI – “Third Opinion”. Oncology centers use the Botkin.Al program.
Applied Artificial Intelligence In Education
Today, the education sector is faced with the task of developing adaptive learning and proctoring . With the help of AI, it is planned to automate the work of selecting educational material and teaching methods suitable for a specific student in order to facilitate the process of learning the material for all categories of students.
Proctoring functions consist of monitoring students during exams. The robot is tasked with monitoring what is happening, recording a variety of factors that the webcam eye does not “see”, because modern students will outsmart any technical device. Although, it must be admitted, in the field of education, not everything can be trusted to technology. The personality of the teacher, his charisma, and the ability to build the right relationships with students play a major role in learning.
Applied Artificial Intelligence In The Industrial Sphere
In this area of application of artificial intelligence systems, the ability to automate work processes is in demand. Today, operations performed on the conveyor are most often automated.
However, LG has already planned to open a plant where the entire organization will be entrusted to artificial intelligence: issues of supplying consumables, monitoring the operation of machines, product quality and fulfillment of planned indicators, warehouse operations, etc. It is clear that the number of workers there will be minimal.
Owners of large industrial enterprises in Japan, China, the United States, Germany, and Switzerland are investing huge sums in re-equipping plants and factories. Many professions, even those related to intellectual work, are becoming obsolete in favor of increasing the computer park.
Over the next few decades, the number of personnel employed in:
- On assembly equipment . The number of jobs cut on conveyor belts is steadily growing. One assembly machine after setup can replace several workers.
- Accounting calculations . In this area, a person cannot compete with a machine that accurately keeps accounts, calculates income and taxes, which is extremely useful for the state system. AI is gradually increasing its competence.
- Consulting clients . Robots are already used today where it is necessary to answer typical questions. Gradually, with the accumulation of experience, the communicative ability of the robot consultant increases.
Applied Artificial Intelligence In The Field Of Road Traffic
Equipping the logistics sector with AI devices will significantly reduce the time spent on processing a huge amount of data. The system can combine all external devices, such as traffic lights, and monitor weather conditions, traffic density, and the number and location of accidents. Based on the analysis of data on the current situation, AI will be able to regulate traffic in the city so that drivers can avoid traffic jams, repair sites, etc. in time.
Automation is penetrating such a sphere as driving cars. Many are already talking about the fact that we are expecting a mass transition to autonomous cars that do not need a driver. Today, in some countries, you can already use robotic parking, where the car is placed by a robot.
Applied Artificial Intelligence In The Domestic Sphere
Many have already heard about the existence of “smart” homes. But so far we are talking mainly about systems that regulate the switching on/off of lights and alarms. But the functionality of AI is constantly expanding.
Soon, you will be able to interact with your home as with a full-fledged member of your family. It will be able to prepare your suit in the morning, wake you up, order food delivery, monitor the indoor microclimate, and remind you about the time for washing and cleaning. All this will allow you to worry less about household items and routine duties.