Artificial intelligence market to grow by $1.1 trillion in four years 16.06.2017
Artificial intelligence market to grow by $1.1 trillion in four years

The volume of artificial intelligence market will grow by $1.1 trillion in four years.

Such growth will lead to an increase in the number of work places: companies will need 800 thousand AI specialists and 2 million employees indirectly related to artificial intelligence. The data was provided by Salesforce with reference to IDC research.

Revenue growth of companies, working in the field of artificial intelligence, will be driven by two factors:

  • improvement of production capacity will bring $121 billion;
  • reduction of costs thanks to automation will allow saving $265 billion.

Salesforce reps stated that AI solutions could change corporate lifestyle as far as they would increase efficiency and attract a greater number of loyal customers. It will be facilitated by the implementation of innovative CRM systems.

Artificial intelligence market to grow by $1.1 trillion in four years

IDC researchers highlighted that such big numbers were not surprising as the IT sphere involves a huge amount of resources. Most of expenses account for the personnel rather than software and hardware. Even companies that focus on IT spend no more than 5% of their income on innovation technologies.

Experts claimed that the next year would be an important stage of AI adoption. Over 40% of companies (among 1000 surveyed) intend to integrate cutting-edge AI solutions. 25% of those companies will use machine learning systems, 27% – text analysis tools, 30% – methods of natural language recognition, 31% – algorithms of numerical analysis. Consequently, companies willing to maintain their market positions should also consider implementing artificial intelligence and start training their staff already today.

Revenue growth from the usage of AI systems in commerce by regions:

  • 1st place – the USA – $596 billion;
  • 2nd place – Japan – $91 billion;
  • 3rd place – Germany – $62 billion;
  • 4th place – the UK – $55 billion;
  • 5th place – France – $50 billion.

Interestingly, investor Mark Cuban believes that the world’s first trillionaire will be the person engaged in the development or investing money in artificial intelligence.

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