Enterprise Artificial Intelligence (AI) Market Poised for an Explosive Growth in the Near Future

Artificial intelligence (AI) is the ability to process information in a way similar to the thought process of humans in learning, decision making, and problem solving. AI in enterprises is rapidly moving beyond hype and is expected to become one of the most significant technological segments. Enterprises are now identifying the value associated with integrating AI into their business processes. AI can be beneficial to enterprises in a number of ways that changes the way in which organizations communicate & innovate their processes, engage with customers, and assess the sales process. The number of commercial deployments of AI technology is rising significantly around the globe. Throughout the last few years, early adopting businesses of all sizes across various verticals began to reap benefits. Some of the key industry sectors already utilizing artificial intelligence include government, retail, financial services, manufacturing, automotive, and advertising.

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Digital transformation to artificial intelligence helps enterprises in understanding extortion of data and utilization of data-driven intelligence. Extensive adoption of AI in enterprises is because majority of tasks which are delegated to AI are data-driven and therefore it can be easily measured or benchmarked. AI can take many different forms, from problem-solving applications and reasoning to social intelligence solutions and natural language generation. These techniques layered together form the AI solutions that are seeing early adoption in enterprises. Specifically, predictive analytics which uses machine learning, data mining, statistics and modeling to analyze current data and to make predictions is the most commonly used solution.