With a CAGR of 56.7% from 2018 to 2025, the global artificial intelligence as a service market (AIaaS) is anticipated to increase from $2,397.2 million in 2017 to $77,047.7 million by 2025. In terms of revenue, North America controlled roughly 47.0% of the global market in 2017, with Asia-Pacific coming in second.
Outsourcing artificial intelligence (AI) is a component of artificial intelligence as a service (AIaaS). Most manufacturers and industry experts collaborate with businesses that can offer the full range of services necessary to support a large-scale AI solution.
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Public cloud providers reveal APIs and services that can be used up without creating conventional machine learning models. These services take benefit of the underlying infrastructure owned by cloud vendors. The market for artificial intelligence as a service is primarily driven by the increased adoption of cloud services in end-user industries. However, lack of skilled workforce is expected to hinder the market growth.
AIaaS providers are increasingly tailoring their offerings to meet industry-specific needs. Whether it’s healthcare, finance, retail, or manufacturing, AIaaS is being customized to address unique challenges and opportunities within these sectors. This trend ensures that AI delivers more relevant and impactful solutions. As AI applications become more pervasive, the demand for transparency and interpretability is growing. AIaaS providers are developing models and tools that enable users to understand how AI algorithms make decisions, which is critical for regulatory compliance, ethics, and user trust.
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Edge computing is gaining momentum, and AIaaS is following suit. AI processing is moving closer to the data source, enabling real-time decision-making without the need for a centralized cloud infrastructure. This trend is particularly relevant in applications such as autonomous vehicles, IoT, and robotics.
With the increasing use of AI in decision-making, there’s a heightened focus on ethical considerations and responsible AI usage. AIaaS providers are integrating ethical AI principles into their offerings, addressing concerns related to bias, fairness, and privacy in AI systems.
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The major players, such as Amazon, Microsoft Corporation, Alphabet Inc. (Google Inc.), IBM Corporation, Apple Inc., Intel, Inc., SAP SE, Salesforce, Inc., Fair Isaac Corporation, and CognitiveScale, Inc., focus on developing new products. These companies have expanded their business by collaborating with other small vendors.
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