Artificial Intelligence (AI) has been pegged by some as fourth industrial revolution with many industries and many countries investing heavily in it. According to research reports including the one from Statista show that there would be massive growth in revenues from AI by 2025.
Statista predicts that revenues from AI would touch US$59.74 billion in 2025 up from US$1.37 billion in 2016. Meanwhile, a report from McKinsey Global Institute predicts that the potential value of AI could be in the range of $3.5 trillion to $5.8 trillion in value annually across nine business functions in 19 industries.
The industries include retail, banking, healthcare systems and services and more. However, it was said that the figures are not forecasts for a particular period in time but they are indicative of considerable potential for the global economy that advanced analytics represents.
As Nvidia (NASDAQ:NVDA) puts it, AI can be termed as the human intelligence exhibited by machines. Nvidia in its report said AI is transforming the world and that much of its origins stretch back to the post World War II era.
The company credits the development of open source frameworks for creating a revolution which was backed by development of Graphics Processing Units (GPUs) with faster and powerful chips to support workloads of machine learning and deep learning. While ‘Narrow AI’ is currently in play, the natural progression is towards ‘General AI,’ which in concept is the machine that has all the human senses and does things just like humans. Read more from investingnews.com…
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