Artificial intelligence platform is the virtual platform provided by specialized IT service providers. This platform enables users to build applications that can be deemed intelligent by integrating them with smart self-sustaining algorithms. These applications are deemed smart/intelligent as they are capable of solving a number of complicated problems. They also simulate various problem solving activities, learn with each task and implement better problem-solving characteristics with each task. These platforms are integrated with a number of different machines which ensures that the applications being developed on this platform are able to perform similar functioning to that of a human such as cognitive functioning, gain general as well as social intelligence
Artificial intelligence platform market is growing due to high computing power & parallel processing capabilities, increasing number of AI applications; the effects of these factors are mentioned below:
Strategic launches of products and expansion of businesses undertaken by market players:
The market is segmented on the basis of component as tools, services; deployment mode is categorized into cloud, on-premises; application as forecasts & prescriptive models, chat-bots, speech recognition, text recognition, others; end user as manufacturing, healthcare, BFSI, research & academia, transportation, retail & e-commerce, others.
“According to Data Bridge Market Research, global artificial intelligence platform market is expected to be growing with a healthy CAGR of 31.2% during the forecast period of 2018 to 2025”
Some of the major players operating in market are Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Enlitic, Inc., Next IT Corporation, iCarbonX, Amazon Web Services, Apple, Facebook Inc., Siemens, General Electric, Micron Technology, Samsung, Xillinx, Iteris, Atomwise, Inc., Lifegraph, Sense.ly, Inc., Zebra Medical Vision, Inc., Baidu, Inc., H2O ai, Enlitic, Inc. and Raven Industries.
The demand for artificial intelligence platforms will gradually rise due to growing intelligent business processes. This will have a positive influence on the artificial intelligence platform market as these platforms are an invaluable component of artificial intelligence technology’s development process ensuring the optimal working and effectiveness of artificial intelligence in different applications.
Global Artificial Intelligence Platform Market- Industry Trends and Forecast to 2025