The analysts forecast the global artificial intelligence market to grow at a CAGR of 50.51% during the period 2017-2021.
Global Artificial Intelligence Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is growing popularity of swarm AI technology. After analysis and introspection, engineers and scientists have tried to adapt automation to highly efficient patterns observed in nature. Worker ants are considered as efficient workers and efficient team members. They execute all tasks in a focused manner while maintaining constant communication.
According to the report, one of the major drivers for this market is growing adoption of deep learning technology. The deep learning technology is one of the advanced versions of AI technologies, which is attempts to mimic the functioning and activity of the human brain. It is capable of learning to recognize patterns of sounds, images, and other data.
Further, the report states that one of the major factors hindering the growth of this market is challenges in developing AI technologies. AI-based technologies, such as deep learning, require large amounts of data as their knowledge base to interpret real-time data and make decisions. Acquisition of this data itself is a difficult process and may even be unethical sometimes.