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Published on : May 31, 2016

Artificial intelligence is a swiftly developing technology and deals with the study as well as the development of intelligent software and machines. The artificial intelligence software is being utilized globally in numerous applications such as speech recognition systems, medical research, and manufacturing of assembly line robots, among others. The market for market intelligence is being supported by a number of companies utilizing this technology for effectual customer reach as well as positioning of their solutions. The increasing application base is also having a positive impact on the growth of the market.

The major trends seen in artificial intelligence have been elaborated as under:

  • Artificial Intelligence for Detecting Human Emotion: Artificial intelligence can also be employed for detecting human emotion and a lot of research is going on in this field.  In addition, the ability of computers has increased and the way computers are understanding human speech will result in a seamless interaction between computers and humans in the coming years. Owing to very precise and efficient face and voice recognition and cameras, computers will be able to gain knowledge on the emotional state of human beings. A number of researchers have been involved in research activities as to how this knowledge can be utilized within education for treating things such as depression, enhancing the shopping experience of customers online, and in the prediction of medical diagnosis.
  • Substituting Workers: Artificial intelligence is poised to take the place of workers in industries. A number of people are wondering what would happen if white collared jobs, which are majorly all about processing of information at which computers do well will shift towards white collared jobs which are people interactive and safe. 
  • IoT to Give Definition to Each Object: A number of devices are seen to be connected and this will result in smarter cars, smarter homes, and much more. Internet of Things is poised to reach to a point where no object will be deemed as a mere object and everything will be wirelessly connected with one another.

Thus, the artificial intelligence market is poised to grow exponentially in the coming years. However, factors such as low access to funding may inhibit the growth of the market in forthcoming years.