ARTIFICIAL INTELLIGENCE TRENDS TO KEEP TABS ON
It is estimated that the global AI market will reach $390 billion by 2025 with spending growth of 20% annually. With consistent advancements in technologies like machine learning and planning/control components and record AI-related patent applications, 2021 looks to be an explosive year for the AI market.
Here’s what AI trends to keep an eye on over the year:
Machine learning boosting healthcare and biology.
The adoption of machine learning within healthcare and biology is helping companies make significant breakthroughs and accelerating COVID-19 related drug discovery.
Money is Still Pouring into AI- but to Established Companies
Artificial intelligence in 2020 saw a 9.3% increase in private funding, however, the funding decreased in the number of newly founded companies.
“Drugs, Cancer, Molecular, Drug Discovery” received the highest amount of private investment in 2020 at $13.8 billion, 4.5 times higher than 2019
“Autonomous Vehicles, Fleet, Autonomous Driving, Road” received USD 4.5 billion in private investment
“Students, Courses, Edtech, English Language” received USD 4.1 billion in private investment.
AI Hiring Continues to Grow Globally
In a sample of 14 countries, AI-related hiring rate was 2.2 times higher in 2020 than in 2016. However, AI job postings in the United States decreased 8.2% from 2019 to 2020.
AI Adoption is Staying Relatively Consistent
A 2020 survey of over 2,000 respondents, found that 50% of organizations have adopted AI into at least 1 business function. This number reflects similarly to 58% of respondents in 2019.
Congress is Talking a lot more about AI
The 116th U.S. Congress mentioned AI in legislation triple the number of times than the 115th Congress.
Wearable AI Market Going Big
The global market for wearable AI is expected to reach $99.5 Billion by 2027.
AI to Beef Up Cybersecurity
Researchers from MIT’s Computer Science and Artificial Intelligence Laboratory have developed a new platform utilizing AI that can detect 85% of cyber attacks and reduce false positives by fivefold.
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