Artificial intelligence (AI) is rapidly entering a new phase within enterprises. An increasing number of enterprises are transforming trial AI programs into full-blown, enterprise-wide deployments. This trend is largely based on the early successes of pilot programs, as well as the continuing advancements in AI hardware, software, and services. A key reason why enterprises are embracing AI is companies have realized that the massive amount of process, operational, and transactional data they are collecting or have access to can be leveraged to wring out more efficiency, productivity, and cost savings. By applying natural language processing, computer vision, machine learning, or deep learning, computers can “intelligently” respond to stimuli or situations, find insights that can improve the way they run their operations, and improve customer interactions. It is clear that AI is not a fad, but a key part of the technology landscape of today and tomorrow. Tractica projects that annual revenue for enterprise applications of AI will increase from $7.6 billion worldwide in 2018 to $107.3 billion in 2025. This Tractica report examines the practical application of AI within commercial enterprises, providing a comprehensive analysis of use cases, business models, market drivers and barriers, technology issues, and the evolving market ecosystem. Tractica analyzed 167 distinct enterprise AI use cases to create its market forecasts, in addition to assessing the underlying meta technological functions being deployed in each use case, including vision, language, and analytics. Detailed market forecasts provide a quantification of the opportunity by technology sector, world region, and industry for AI software, hardware, and services through 2025. The report also includes detailed profiles of 48 key industry players.
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