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Artificial Intelligence is gaining prominence due to its complex, data-driven applications such as voice and image recognition.
It offers a great investment opportunity, as it can be leveraged over other technologies to overcome the challenges of high data volumes, high computing power, and improvement in data storage.
The rapid adoption of virtual intelligence/ AI in end-use industries such as retail, healthcare, and automotive is expected to augment market growth over the forecast period. Organizations are making investments to incorporate artificial intelligence capabilities into their product portfolio.
Organizations are utilizing artificial intelligence to extract valuable insights from data for providing innovative products and improving customer experience; thereby, increasing revenue opportunities.
Furthermore, to expand their customer reach, several vendors have collaborated with distributors and end users for product distribution.
The increasing prominence of parallel processing applications is leading to increased adoption of the technology in scientific disciplines such as artificial intelligence and data science.
The machine intelligence arena holds secure growth prospects, attributable to which, the key players are focusing on developing an integrated solution including hardware and software.
Cognitive technologies can mine unstructured or semi-structured data and attempt to understand patterns in the underlying data and processes—very different from mimicking the methodical interactions of a person doing repetitive tasks.
Terms such as cognitive computing, intelligent automation or even artificial intelligence (AI) are often mistakenly included under the RPA umbrella.
