The increase in demand for intelligent virtual assistants, adoption of AI to improve customer service and growth in big data are the major factors driving the growth of cloud artificial intelligence market during the forecast period. However, limited number of AI experts can hamper the market growth to a certain extent. Contrarily, rise in need to improve operational efficiency in manufacturing industry and increase in adoption of cloud-based applications and services among various industries are the opportunity factors of the global cloud artificial intelligence market.
Currently, every organization is on verge to utilize artificial intelligence (AI) applications to gain positive revenue impact in their businesses. One report suggested there about 300,000 AI professionals worldwide, in spite of the fact that there are a large number of jobs accessible. While these are unpredictable figures, the competitive wages & benefits packages and the hostile recruiting tactics rolled out by firms to recruit AI talent would suggest the supply of AI talent is nowhere near matching up to the demand.
As the democratization of deep earning and AI applications provide opportunity for tech giants but now feasible for small- and medium-sized businesses—the demand for AI experts to do the work has expanded as well.
The other reason for AI skills crisis is that our academic and training programs are not updated to meet new discoveries and pace of innovation with AI. Not only do AI professionals need official training, they need hands-on understanding. Therefore, insufficiency of experienced AI experts for leadership roles required by organizations who are just beginning to adopt AI strategies into their operations is an restraint of the market.
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AI powered digital solutions are set up to improve every aspect of business including brand reputation, online customer experience, loyalty, preventive assistance and even production of revenue streams. In January 2017, Google, Inc. launched its Cloud AutoML. It utilizes Google’s Cloud Vision application programming interface and Cloud machine learning engine service. AutoML is used by several leading companies, such as Urban Outfitters and Disney. It is making shopping and search on their specific websites more relevant. It also supports image recognition that allows consumers to drag the images and instruct their systems to recognize those on Google cloud.
Major industry players such as – Apple Inc., Google Inc., IBM Corporation, IP soft, Intel Corporation, MicroStrategy Inc., Microsoft Corporation, NVIDIA Corporation, Qlik Technologies Inc., and Verint Systems Inc.
Regions covered – North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa
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