IDC: $2.6 Billion AI Software Platforms Market, Growing at 26.6%

“The artificial intelligence software platforms market experienced steady growth in 2018, with revenue of $2.6 billion and a growth rate of 26.6%,” says David Schubmehl, research director, Cognitive/Artificial Intelligence Systems, IDC. ” IDC is seeing that in 2018 organizations have been moving from experimentation to production with the use of AI applications within their business processes. The AI software platforms market is seeing growth in providing the tools and capabilities that organizations are using to develop these applications. IDC expects to see this trend to continue, even though open source platforms and technologies are also seeing growth in this market.”

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AI Market Incremental Growth 2019-2023: $75.54 Billion

Source: Technavio

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AI by the Numbers: $2.9 Trillion of Business Value in 2021

The recent surveys, studies, forecasts and other quantitative assessments of the health and progress of AI estimated the impact on productivity of human-machine collaboration, the number of jobs that could be automated in major U.S. cities, and the size of the future AI in retail and healthcare markets; and found AI optimism among the general population, algorithms outperforming (again) pathologists, and that our very limited understanding of how our brains learn may improve machine learning.

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Do You Know What is AI?

26% of consumers think they interact with AI at least once a day; when they think of AI, 53% think primarily of robots and 40% think primarily of self-driving cars; 58% get their information on AI from movies and TV or social media

Blumberg Capital surveys of 1,000 U.S. consumers aged 18+

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A Short History of Algorithms

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AI by the Numbers: Only 20% of US Consumers Trust AI-Generated Healthcare Advice

The surveys, studies, forecasts and other quantitative assessments of the health and progress of AI for this week find increased VC excitement over AI startups, low trust in AI advice by U.S. consumers and global business executives, China and Germany ahead of the US in the use of AI in healthcare while the US spends more, and the inaccuracy of facial recognition.

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Amazon Leads the $23 Billion Public Cloud Market in Q2, Growing 8X Over 5 Yrs

Infographic: Amazon Leads the Race to the Cloud | Statista You will find more infographics at Statista

Infographic: The Blockbuster Growth of Amazon's Cloud Business | Statista You will find more infographics at Statista

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The Future of the Robotics Industry

Steve Crowe, Editor of The Robot Report, catches up with 10-year-old robotics prodigy Michael Wimmer at the Robotics Summit & Expo 2019.

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The Failure Rate of Enterprises Deploying AI and Other Data on AI

The surveys, studies, forecasts and other quantitative assessments of the health and progress of AI for this week reveal the state of enterprise AI adoption, workers’ attitudes towards AI, data insecurity and privacy challenges, the fortunes of AI startups, and the superior performance of AI over humans in some situations.

25% of organizations worldwide that are already using AI solutions report up to 50% failure rate; lack of skilled staff and unrealistic expectations were identified as the top reasons for failure [IDC global survey of 2,473 organizations, May 2019]

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The Impact of AI and Automation on Jobs Now and in the Future

Amazon announced last week that it will spend $700 million to train about 100,000 workers in the US by 2025, helping them move into more highly skilled jobs. The New York Times observed that with this program Amazon is acknowledging that ”advances in automation technology will handle many tasks now done by people.”

The number of jobs which AI and machines will displace in the future has been the subject of numerous studies and surveys and op-eds and policy papers since 2013, when a pair of Oxford academics, Carl Benedikt Frey and Michael Osborne, estimated that 47% of American jobs are at high risk of automation by the mid-2030s. Here are a few more recent examples of what has become a popular number-crunching (automated, computerized, AI-driven) exercise:

McKinsey Global Institute: between 40 million and 160 million women worldwide may need to transition between occupations by 2030, often into higher-skilled roles. Clerical work, done by secretaries, schedulers and bookkeepers, is an area especially susceptible to automation, and 72% of those jobs in advanced economies are held by women.

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