The AI Software Platform Market Size:
The AI Software Platform market size is estimated to be
$27.5 billion by 2021, according to a report released by Markets and Markets.
The major AI Software Platform market players are IBM, Microsoft, Amazon
Web Services, and Google Cloud. These companies are vying for a share of the
global market as more and more businesses are looking for innovative and
reliable software platforms to help them automate their operations.
The rise in Artificial Intelligence (AI) Use:
The rise in artificial intelligence (AI) use has created
many opportunities for businesses. Using AI, companies can automate their
processes and process more data quickly to make better decisions. This allows
companies to save money on their marketing and sales efforts and reduce
the time it takes to find and hire the best employees. Additionally, AI can
help businesses connect with customers, not in their sector or
country.
Increase in Use of AI for Commercial Applications:
Commercial organizations use artificial intelligence
(AI) to improve efficiency and lower costs. AI is used to
identify patterns in customer data, understand customer needs, and recommend
products or services. Some of the most common commercial applications of AI
are:
·
-Real-time bidding (RTB): In RTB, companies use
machine learning algorithms to predict what buyers want before they even
buy it. This allows them to compete directly based on price and
quality rather than wait for customers to purchase.
·
-Fraud detection: AI can help identify
suspicious behavior or fraud in customer data faster than humans can. This
helps businesses reduce the risk of losses and protect their customers' data.
·
-Recommendations for marketing content: There
are many different ways that AI can be used for marketing purposes, including
creating personalized recommendations for users, understanding consumer
behavior through natural language processing (NLP), and tracking user
engagement across channels.
Increase in Use of AI for Defense Applications:
There is increasing use of artificial intelligence (AI)
for defense applications. Various AI platforms are being used to improve the
accuracy and efficiency of current military operations. For example, a platform
known as machine learning has been used to improve the accuracy of airstrikes
by automatically analyzing data collected from fighter jets and drones. Another
AI platform is natural
language processing (NLP), which can analyze text data and
identify specific individuals or objects.
AI Software Platform Revenue Worldwide:
According to an article by Markets and Markets, AI software
platform revenue worldwide is expected to reach $32.2 billion in 2021, up from
$26.4 billion in 2020. This increase comes from the increasing adoption
of AI across various industries and businesses, including finance,
healthcare, retail, and manufacturing. The report also predicts that this market
will continue to grow in the years ahead as new opportunities arise, such as
smart cities and autonomous vehicles.
The State of the AI Software Platform Market:
The state of AI software platform market, is still in its early days, with several companies
working on innovative products and platforms that could make this market even
more lucrative. Many companies are betting on new technologies, such
as machine learning and artificial intelligence (AI), to drive growth.
The Use of AI for Commercial Applications:
Artificial intelligence (AI) has been widely used in
commercial applications for years. Several different AI-based commercial solutions have been developed and are currently being
used by businesses worldwide. Some of these solutions include:
Siri:
Voice recognition technology has been used extensively
in commercial applications for years and is only getting more popular.
This technology can be used to create customer interactions with businesses, as
well as identify various types of customers and products.
Google Now:
Google Now is another AI-based
commercial solution that businesses use widely. It allows users to
access information about the current state of the company, as well as future
plans. This technology is also great for controlling devices in a household and managing finances.
Use of AI for Defense Applications:
Defense applications are some of the leading industries that
have seen strong growth in recent years. AI has been used to create enhanced
user experience and to improve efficiency in many different areas, including
military operations. The use of AI for defense is significant because
it can help to automate tasks and save time, which can then be put towards
training new troops or improving the effectiveness of existing forces.
Author Bio
Carmen Troy is a research-based content writer for Research
Prospect, The UK's most trusted dissertation writing service. They provide Custom
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