In a broad sense, the term artificial intelligence refers to the information systems inspired by biological systems, and associated with the development of intelligent software and machines that react and work like humans. The term encompasses various technologies such as machine learning, machine reasoning, computer vision and natural language processing. These technologies have real world applications in several industries, and are capable of transforming the entire business model of an organization. Some of the applications are: image and speech recognition, object identification and detection, video analysis, forecasting, and data management.

The Artificial Intelligence market is witnessing a significant investment by organizations in different verticals due to the benefits of AI in productivity, positioning of products and services, and reaching to the customers effectively. AI has transformed the business management by integration of various tools such as trend predictions, workflow management tools and others. The applications are still on rise and are diversifying to several industry verticals. Although, lack of skilled workforce is likely to impact the growth of the market.

The rise in number of applications in smart devices, advances in IT infrastructure, and enhanced customer services are the major drivers of artificial intelligence market. The market is segmented by technologies, verticals, and regions. Some of the vendors present in the market of Artificial Intelligence are Microsoft, IBM, NVIDIA, Google, Intel, Inbenta Technologies, General Vision and Numenta.

The study covers and analyses the “Artificial Intelligence” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiative, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.