Applications of Artificial Intelligence and Machine Learning in Businesses Infographic
According to a report by BofA Merrill Lynch, the Robots and Artificial Intelligence solutions market will grow to $153 billion dollars by 2020 – comprising 83 billion dollars for robot and robotics and 70 billion dollars for AI-based analytics. As Venkat Viswanathan, chairman and founder at LatentView Analytics states, "What can be automated should be. In rule based processes, AI is more efficient than human interaction. However, we are far away from AI being center stage. I estimate that on an average about 90 percent of analysis today is done by humans and 10 percent by machines. As we build technology that helps machines get smarter, this will change. In another 10 years, machines will do 50 percent of analysis." With this in mind, LatentView Analytics outlines how organizations can begin implementing AI with the Applications of Artificial Intelligence and Machine Learning in Businesses Infographic.