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Who Is Driving the Growth of Artificial Intelligence?

AI Market, investment in Artificial Intelligence, Where is AI being used, Future development, Growth of AI

Artificial Intelligence In Our Lives

It’s no secret that the future will be driven by AI (Artificial Intelligence). In fact, much of our present lives are touched by this technology. But who is behind the investment to integrate AI and its related technologies into our everyday lives. Where is AI being used today? We will try to answer these questions in this article. 

Investment in Artificial Intelligence

The estimated size of the Artificial Intelligence market since 2018 is around 14.7 billion USD. Amazon among others has made a large investment in Artificial Intelligence. But surprisingly, much of the growth is coming from startups.

index.co published a comprehensive list of the number of investments being made by various companies worldwide in Artificial Intelligence. Many of the investments are going to startups who are working on the various technologies that encompass AI. Technologies like; Machine learning, deep learning, neural networks, speech recognition, natural language processing, and more.

There has been confusion regarding Artificial Intelligence. Not only in the public sector but by company executives regarding where AI is currently and where it can be used. Most people are aware that AI is behind the various voice assistants we know; Alexa, Google, and to a lesser degree, SIRI to name a few. Few of us fully understand the many other areas where AI is being used today and where we will see it used in the future. AI is only beginning to realize its full potential.

Where is AI Today?

Currently, AI is used extensively in the ride-sharing industry. It is used in the investment and financial industries. Blockchain and cryptocurrency. AI is used in law enforcement for facial recognition and it will also be used in autonomous vehicles and in the management of the smart cities of the future. The militaries of the US, China, Russia, and others are currently making use of AI. Not only for the development of autonomous weapons but also to detect design flaws in aircraft and ships and in developing strategies and determining likely outcomes. AI has already found its way into the healthcare industry delivering improvements in patient care.

Who Is Driving the Growth of AI

The BCI Summit held in New York from May 10 – 12 is the meeting place where those actively involved in AI development and investment can network and discuss the business and future development of AI. The list of participants is impressive including NASA, GE Ventures, Qualcomm, Barclays, HSBC, IBM and many more.

AI is touching more and more of our lives every day and will continue to do so.  There has been a lot of conversations and concern over how AI will displace many workers. There is also the point of view that in doing so, it will also open up new career opportunities. 

Conclusion

The one thing we can be certain of is that Artificial Intelligence is becoming more integrated into our lives. It remains to be seen if it will be all we hope it will be or something yet unknown and nefarious.


More on this topic: The Race To Reach Artificial Intelligence Supremacy

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Carmine Delligatti-Drummer, former Support Manager for Deneba Software, ACD Systems, Mareware, Inc. and Swiss Made Marketing. Avid technology blogger and Managing Editor of Cupertinotimes.com.