Artificial Intelligence Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023

Organizations are trying to have a competitive advantage through minimizing operational cost and reducing excess wastage in production and improving efficiency of their equipment. Artificial intelligence helps to reduce operational cost and gain competitive advantage through improving organization’s process and application by forecasting the future demand. Artificial intelligence uses previous data to analyze and monitor the system in order to improve the current operational process. In some industrial sectors, artificial intelligence uses a set of machine and software that helps to perceive its environment and maximize the chance of success rate. Artificial intelligence basically consists of computer and computer software which uses algorithms and statistical tools to solve complex problems. Artificial neural networks are a set of statistical algorithms which use data from the system to analyze and learn pattern recognition in the system. This helps artificial intelligence to provide machine learning function in manufacturing machines and take action in similar cases. The market for machine learning is expected to grow in coming years due to demand from manufacturing organizations to reduce cost of production. Artificial intelligence is expected to control the production automation process in manufacturing sector in coming years.

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The application of artificial intelligence is expected to increase due to increased uses in 3D printers for production process. This would help to reduce material wastage and increase production output with less time for production. Digital assistance system is another branch of artificial intelligence which is expected to grow in coming years. The adoption of digital assistance system is expected to increase in healthcare and transportation sectors. In healthcare sector, digital assistance helps in...