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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Artificial Intelligence (AI): A Brief History

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Fintech Funding Reached $8.3 Billion in Q2 2019

CB Insights: Funding to VC-backed fintech companies grew 24% QoQ in Q2’19 and neared previously quarterly funding highs.

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AI Market Incremental Growth 2019-2023: $75.54 Billion

Source: Technavio

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The Impact of AI Augmentation on Productivity: 6.2 Billion Hours

Gartner: In 2021, artificial intelligence (AI) augmentation will create $2.9 trillion of business value and 6.2 billion hours of worker productivity globally… Gartner defines augmented intelligence as a human-centered partnership model of people and AI working together to enhance cognitive performance. This includes learning, decision making and new experiences.

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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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Using AI to Investigate How Passengers Navigate Train Stations

When computers are confused, humans are too. Every year, more than 500 million passengers use train stations in Paris. In AI Station, a collaboration between our Lab, SNCF Gares & Connexions, and the Austrian Institute of Technology, we use artificial intelligence to investigate how passengers navigate such places. In particular, computer vision and convolutional neural networks (CNN) help us understand how people perceive space and when they might have difficulties in orienting themselves. First results are published in the journal Building and Environment.

–MIT Senseable Lab

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