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Sunday, May 20, 2018

Gartner on the Value of AI: $1.2 Trillion

Such valuations are always difficult.  But it can be expected to be high if it truly augments human effort.

Artificial intelligence will be worth $1.2 trillion to the enterprise in 2018
Gartner says that AI-based customer experience technologies are boosting market value.  By Charlie Osborne for Between the Lines

The artificial intelligence (AI) industry will be worth $1.2 trillion in 2018, with customer experience solutions creating the most business value.

On Wednesday, Gartner released estimates on the projected value of AI over the course of this year. According to the research firm, the global enterprise value derived from AI will total $1.2 trillion this year, a 70 percent increase from 2017.

AI-derived business value is projected to reach up to $3.9 trillion by 2022.

"AI promises to be the most disruptive class of technologies during the next 10 years due to advances in computational power, volume, velocity and variety of data, as well as advances in deep neural networks (DNNs)," said John-David Lovelock, research vice president at Gartner. "One of the biggest aggregate sources for AI-enhanced products and services acquired by organizations between 2017 and 2022 will be niche solutions that address one need very well."

These sort of needs may include methods to improve customer experiences, ways to drive new revenue streams, and means to reduce costs, whether operational or in serving existing products. .... "

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