The strategic importance of AI is growing at an accelerating pace. Many companies are reaping the rewards of AI now and will increase their investments as a result.
Every board member and every senior executive must understand the key trends in AI that will impact their businesses.
The Top 5 Trends in AI are as follows:
1) Increasing investments
2) Rapid response
3) Risk management
4) Job changes
5) Organizational transformation
Trend 1:
Companies are increasing their investments in AI and will continue to do so
According to ResearchAndMarkets.com, the global artificial intelligence market is expected to grow from $40 billion in 2020 to $51 billion in 2021 at a compound annual growth rate (CAGR) of 28%. The market is expected to reach $171 billion in 2025 at a CAGR of 35%.
Companies that are AI leaders are building an AI flywheel that will enable them to strengthen the lead they already have over their competitors. The flywheel effect comes primarily from AI systems that perform well and then produce more data, helping the system continually improve its performance. Eventually, a competitor will never be able to catch up. (See The AI Threat: Winner-Takes-All)
Continue reading; https://www.forbes.com/sites/glenngow/2021/09/12/the-top-five-trends-in-ai-how-to-prepare-for-ai-success/?sh=751f5cdc625a
Every board member and every senior executive must understand the key trends in AI that will impact their businesses.
The Top 5 Trends in AI are as follows:
1) Increasing investments
2) Rapid response
3) Risk management
4) Job changes
5) Organizational transformation
Trend 1:
Companies are increasing their investments in AI and will continue to do so
According to ResearchAndMarkets.com, the global artificial intelligence market is expected to grow from $40 billion in 2020 to $51 billion in 2021 at a compound annual growth rate (CAGR) of 28%. The market is expected to reach $171 billion in 2025 at a CAGR of 35%.
Companies that are AI leaders are building an AI flywheel that will enable them to strengthen the lead they already have over their competitors. The flywheel effect comes primarily from AI systems that perform well and then produce more data, helping the system continually improve its performance. Eventually, a competitor will never be able to catch up. (See The AI Threat: Winner-Takes-All)
Continue reading; https://www.forbes.com/sites/glenngow/2021/09/12/the-top-five-trends-in-ai-how-to-prepare-for-ai-success/?sh=751f5cdc625a
