Published On : 14 Aug 2018
The global artificial intelligence system market is expected to witness a mixed performance in years to come due to the delicate condition of the global economy. Rise in automotive and industrial economic is anticipated to offer a decent growth in the market in the years to come. However, requirement of high investment at the initial stage accompanied with volatile market dynamics is predicted to bring down the growth rate of the market.
Rise in need of connectivity and mobility in testing services and consumer electronics are expected to play the key role in the rise of the global market. Apart from this installation of safety systems in vehicles all around the world to provide a safer journey is anticipated to bolster the growth of the market in the coming years.
Factors impacting the growth of the global Artificial Intelligence Market
• AI systems to provide large of volume of data in real time
AI systems can be used to provide large chunks of data whenever it is required within a period of milliseconds. This factor helps the companies which are using heavy data and analytics. This is going to have a positive impact on the business value of such organizations. Absence of limited sample and data availability has been seen as deterring factor to any organization dealing with data. Ease of fetching numerous data with in real time is anticipated to grow the AI systems market. Leading giant of data providers of annuities and employee benefit program and insurance has started using AI technology in order to deal with such massive figures.
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• Requirement of Skilled Labors to Deter the Growth Rate of Market
Leading companies are spending huge amount of their money in recruiting skilled engineered for handling artificial intelligence systems. Leading companies such as Google inc., Salesforc.com Inc., IBM Corp, and Facebook Inc. are using artificial intelligence to transform the enterprise business. This company’s end up paying a bulk amount of money to these highly skilled labors. This factor is anticipated to deter the growth of the market as several small scale organization could not afford to spend huge amount of salary for required skilled labors.
• Rise in E-Commerce Retailers to Fuel the Growth of the Market
Artificial Intelligence systems is expected to play an important role in managing its customers trust by providing an excellent customer experience. These days E-commerce retailers are seen to rely on AI systems to analyze chunks of data. This helps E-commerce retailers to form a deep bond with their customers and thus gaining their trust for future. AI systems helps in delivering messages to the right customer during the time of requirement thus making sure that customer receives satisfactory results. Thus with rise in E-Commerce retail all across the globe the demand for AI system is predicted to rise.
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