Application of AI in 2020

The global AI market is divided on the basis of technology, industry vertical, and geography.

Based on technology, the market is segmented into machine learning, natural language processing, image processing, and speech recognition.

The machine learning segment held the largest share in 2016, contributing more than half of the market and expected to maintain its dominance throughout the study period.

Moreover, the segment is projected to register the fastest CAGR of 56.4% during the forecast period.The global artificial intelligence market was pegged at $4.06 billion in 2016 and is projected to reach $169.41 billion by 2025, registering a CAGR of 55.6% from 2016 to 2025.Rise in investment in AI technologies, increased demand for analyzing and interpreting large amount of data, and surge in customer satisfaction coupled with increase in adoption of reliable cloud application have boosted the growth of the global artificial intelligence (AI) market.

However, dearth of trained and experienced staff hampers the market growth.

On the contrary, rise in adoption of AI in emerging markets and rapid development of smarter robots are expected to create lucrative opportunities in the near future.Based on industry vertical, the market is divided into media & advertising, BFSI, it & telecom, retail, healthcare, automotive & transportation, and others.

Price optimization dominates AI's contributions to improving sales this year based on conversations with CROs and CEOs.Predictive opportunity scoring, predictive lead scoring, predictive analytics for forecast management and guided selling are the top four AI-based technologies B2B selling organizations plan to deploy in the next 12 months, according to Gartner.By 2025, 60% of B2B sales organizations will transition from experience- and intuition-based selling to data-driven selling, merging their sales process, sales applications, sales data and sales, according to Gartner.Revenue increases from adopting AI are reported most often in marketing and sales and cost decreases most often in manufacturing, according to McKinsey's recent Global Artificial Intelligence Survey.Sales organizations are under increased pressure to reduce selling costs while stabilizing margins and closing only the most profitable deals.

AI-based price and revenue management applications and platforms are proving indispensable in keeping sales, marketing, operations, services, accounting and senior management synchronized with real-time updates to achieve more.

McKinsey's Global AI Survey: AI proves its worth, but few scale impact survey provides insights into where AI is making its greatest contributions and reducing expenses.

The majority of executives whose companies have adopted AI report that it has provided an uptick in revenue in the business areas where it is used and 44% percent say AI has reduced costs.

Leaders in this area include Vendavo, who has decades of experience providing price optimization solutions for the chemical, distribution, high tech, manufacturing and aftermarket industries.

Every CMO and their CRO counterpart are having discussions about how the rate of opportunities transitioning from Marketing Qualified Lead (MQL) to Sales Qualified Lead (SQL) can be improved.

A third of our lives is devoted to it.

In addition, only a third of workers currently have access to appropriate collaboration tools or artificial intelligence applications.For the past 10 years, companies have focused on the customer experience.

According to an article published in the Harvard Business Review, companies that lead initiatives to improve the employee experience are four times more profitable than those that don't.

Many suffer from isolation, lack of support, constant distractions, lack of connection and anxiety due to the crisis.

This has likely had an impact on motivation, efficiency and work-life balance, creating stress and affecting physical and mental health.Due to the economic downturn caused by Covid-19, more than 1 billion people are currently at risk of losing their jobs.

This situation differs significantly from one sector to another (airlines are particularly affected, while computer skills are more and more in demand).How do we solve these challenges using artificial intelligence (AI)?Here are five main levers available to world leaders to build the future of work with AI (the “fivefold-A artifact”):1.

Self-driving vehicles, mechanical associates, and robotized sickness determination are altogether the results of an arising AI insurgency that will reshape how we live and work.

Furthermore, with interest for gifted specialists dramatically increasing over the most recent couple of years, there are boundless freedoms for experts who need to chip away at the forefront of AI innovative work.

They're being looked upon as tools and ways to make this world a better place.

And it’s just not that you have to go to these fancy tech widgets to be suitable to use them.

You can simply look around, and I'm sure the utmost of your tasks are made smooth by artificial intelligence.Artificial intelligence has created a virtual care private adjunct that's specifically erected for people’s requirements and is extensively used for covering probing different types of cases and analyzing once cases and their issues.

How to Launch Ai Start-ups  As the big guy’s scramble to inoculate their products with artificial intelligence, other companies are hard at work developing their intelligent technology and services.The AI assiduity indeed broke records during the global query of the COVID-19 epidemic, with artificial intelligence start-ups.

Artificial intelligence matches human performance by learning, deriving conclusions on its own, and executing a clearly defined task.

Machine Learning is an artificial intelligence technology that uses data to automatically discover patterns and trends, resulting in deriving more accurate predictions of future events.Many organizations are leveraging ML and AI to advance their product development, sales, and overall customer experience.

Industries like manufacturing, construction, energy etc.

Most companies understand the value of a safety culture and have ideologies about what a hyper-vigilant safety culture looks like — where employees are on high alert of their surroundings, perpetually evaluating risks for the task at hand and taking precautions accordingly.

Algorithms can identify objects, edges, and velocity because of the advancements of Machine Vision.Workplace Safety Solutions through AI Computer Vision:Process and Production Safety - Majority of the workplace facilities have a CCTV system installed on the premises.

Vision-based object detection and tracking use feature such as shape, color, motion etc.

Market OverviewThe popularity of e-commerce solutions is estimated to enhance the AI in Supply Chain Market 2020.

The ICT industry reports are produced by Market Research Future, which highlights market options for expansion.

The mounting adoption of connected devices is predicted to open up new growth prospects for the market in the forecast period.Segmental AnalysisThe segmental evaluation of the AI in Supply Chain Market is segmented into technology, end-users, deployment, component, application, and region.

Based on the applications, the AI in Supply Chain Market is segmented into warehouse management, supplier relationship management, supply chain planning, fleet management, logistics & shipping, risk management, among others.

Based on the region, the AI in Supply Chain Market is segmented into Europe, Asia-Pacific, North America, and the rest of the world.

The technical progress, significantly developed infrastructure, and rising technical know-how in artificial intelligence technology are a few key factors motivating the incorporation of AI-based solutions in supply chain of the industries in the region.

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