Artificial Intelligence and its impacts on the market
According to the latest research by Gartner, the global leader in research and advisory for companies, worldwide revenue in the Artificial Intelligence (AI) software sector is expected to total US$ 62.5 billion in 2022, representing an increase of 21.3% compared to what had been projected for 2021.
The Gartner predicts that the five main categories of Artificial Intelligence software in 2022 will be: knowledge management, virtual assistants, autonomous vehicles, digital workplaces, and crowdsourcing data.
Before entering into how the market impact will be, let us start by explaining more deeply what Artificial Intelligence (AI) means.
How does Artificial Intelligence work?
Understanding what Artificial Intelligence (AI) is remains essential for companies that wish to modernize.
AI is one of the fundamental technologies for optimizing Industry 4.0 installations, building intelligent solutions, and shaping the society of the future.
An AI solution involves a grouping of various technologies, such as algorithms, data processing software, artificial neural networks, learning systems, sensors, among others that can simulate human capacities linked to intelligence. For example, reasoning, memory, environmental perception, and the analytical ability for decision-making.
We can say that the concept of AI is related to the capacity of technological solutions to perform activities in a manner considered intelligent. AIs can also "learn on their own" thanks to learning systems that analyze large volumes of data, enabling them to learn patterns and expand their knowledge.
In summary, learn about the main objectives of Artificial Intelligence:
1st Improved decision-making:
AI can assist in simplifying analysis processes, especially for a company that values data-based decision-making.
2nd Convenience and scalability:
Capable of employing algorithms to perform more precise, fast, and replicable segmentations. It is possible to analyze high volumes of data in a short time. This increases the chances of developing good commercial strategies.
3rd Increased automation:
Contributes to the automation of logical, analytical, and cognitive activities, generating greater speed in information processing.
4th Reduction of errors, risks, and operational costs:
With automatic and real-time analysis, it is possible to consume data from sensors, cameras, monitoring software records, among other sources to predict failures, generate alerts, indicators, and make automatic decisions. Regarding systems, their information comes from databases, documents, reports, historical records, etc.
5th Optimized public service:
Can optimize service offered to the public in different aspects, such as delivering more efficient communication, increasing agility in transactions, and providing broader personalization.
We've reached the most important point! How can Artificial Intelligence impact the market?
The demand for Artificial Intelligence technologies and the growth of the associated market are closely linked to organizational maturity levels regarding Artificial Intelligence itself. Organizations continue to demonstrate great interest in solutions of this segment, with 48% of CIOs responding in the Gartner 2022 CIO and Technology Executive Survey that they have already deployed or plan to deploy Artificial Intelligence and machine learning technologies in the next 12 months.
The Gartner research found that organizations tend to experiment with Artificial Intelligence, but struggle to make these technologies part of their standard operations. Gartner predicts it will take until 2025 for half of organizations worldwide to reach what the Gartner Artificial Intelligence maturity model describes as the "stabilization stage" of maturing Artificial Intelligence use.
The question on everyone's mind is how much AI will affect the job market. According to studies by the World Economic Forum, they indicate that Artificial Intelligence will generate more jobs than it eliminates. The forecast is that 85 million jobs will be replaced, while this technology will create 97 million new employment opportunities in the global market by 2025.
Now that we already know how important Artificial Intelligence is, we would like to align that for a technology like this to be successful, a team of specialists is necessary, and we at ST IT Cloud have this team, structure, and more than 13 years of experience. Therefore, we recommend: get in touch and allow technological advancement in your business.
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