Al Competition Around the World

In this article we are going to examine the artificial intelligence competition around the World.
Tolga Akşahin
5 minutes

Al Competition Around the World

In this article we are going to examine the artificial intelligence competition around the World. We will analyze the global market to understand the developments so far and determine the leading companies and countries globally. 

Artificial Intelligence Studies

Artificial intelligence term has entered our lives in 1951 by a researcher at Dartmouth College named Marvin Minksy. The technology had its ups and downs since then like the AI Winter or Boom, you can find more detailed information about those at our this blog. However this technology has never really gotten out of our lives since then and research shows that those systems are living their golden age for the last decade. The research and development investments finally started to profitize quite seriously and this led to a fierce competition between countries as you well can think too. As revenues and research output soar in the field of AI, global competition between the United States, China and Europe heats up. However, there are underrated countries like Singapore that can surprise you with incredible index scores of AI readiness.

Large, complex data sets and exponentially faster, more powerful computers have now made AI more prevalent. Applications like machine learning, in which a system finds patterns in massive amounts of data, have shown how useful and valuable AI can be. Today, artificial intelligence serves as the foundation for computer systems handling activities like voice recognition and translation on smartphones, driving autonomous cars, and managing robots that automate household and industrial jobs. Artificial Intelligence is being applied in research in an increasing variety of areas, including the processing of the massive volumes of data that underlie subjects like astronomy and genetics, the creation of climate models and weather forecasts, and the detection of disease symptoms in medical imaging.

Which countries are doing what?

We have mentioned above that the business is thriving, as a result, countries are putting a lot of resources into these technologies. According to the Stanford Institute for Human-Centered Artificial Intelligence's 2019 AI Index Report, more than US$70 billion was invested privately worldwide in AI in 2019. Israel, Singapore, and Iceland were found to invest considerably in terms of per capita investment, whereas the US, China, and Europe took the greatest proportion. According to the report, startups built on AI technologies are a significant component of the ecosystem, attracting more than $37 billion in investments globally in 2019, up from $1.3 billion raised in 2010.

Profits have also increased dramatically. The Framingham, Massachusetts-based market research firm International Data Corporation projects that global AI market revenues will reach $156.5 billion in 2020, up 12.3% from 2019. The COVID-19 pandemic's economic effects may cause growth in 2020 to be slower than in prior years, although the International Data Corporation anticipates that global revenues will top $300 billion by 2024.  

Machine Learning

In 2021, the deep learning market sector held the top spot and represented about 37.0% of total revenue. Its complex data-driven applications, such as text/content or speech recognition, are blamed for this rise. As deep learning aids in overcoming the difficulties associated with large amounts of data, it presents profitable investment prospects. For example, Zebra Medical Vision and Telus Ventures worked together in July 2020 to improve the former's deep learning solutions' accessibility in North America and to broaden AI solutions to clinical care settings and new modalities. Significant investments in AI have been made in machine learning and deep learning. It comprises cognitive tools like tagging, clustering, categorization, hypothesis generation, alerting, filtering, navigation, and visualization, as well as AI platforms that make it easier to create solutions that are advisory, intelligent, and cognitively empowered. 

Recent advancements in neural network architecture and training techniques, graphics processing units, and the accessibility of a sizable amount of data from many industries have all contributed to the growth of deep learning technology. A significant amount of data was produced as a result of the growing deployment of robotics, IoT, cybersecurity applications, industrial automation, and machine vision technology. This information can be used as a training set for deep learning algorithms, which aid in diagnosis and testing. The consolidated data environment is produced by the deep learning algorithms, which gain knowledge from prior experiences. The results will be more accurate and the data will be maintained consistently the more data there is.

Computer Vision

The second biggest segment of artificial intelligence is computer vision. The global computer vision market size was estimated at USD 11.22 billion in 2021 and is expected to reach USD 12.14 billion in 2022.

 In various use-cases, such as computer vision solutions in consumer drones and autonomous & semi-autonomous vehicles, artificial intelligence  in computer vision technology is growing in popularity. The application of computer vision systems has been expanded in many industries, including education, healthcare, robotics, consumer electronics, retail, manufacturing, and security & surveillance, among others, thanks to recent developments in image sensors, sophisticated cameras, and deep learning techniques.

The largest portion of the global market for computer vision is in North America. The two main industries using computer vision systems are pharmaceuticals and food and packaging due to obligatory government restrictions, to maintain quality, and for convenience of use. This is anticipated to fuel the market for computer vision in this area.

Final Words 

Artificial intelligence market is growing with a sky rocket %20.1 annual growth rate. There are more countries and corporate firms everyday that recognizes the incredible potential behind those technologies and investing huge amounts of resources everyday. Artificial intelligence technology is making our lives easier everyday by automating our repetitive works of any kind. However as the technology develops, those systems started to do even more. Having this kind of technology may sound expensive to you, however

companies are working on those technologies to make it simpler, more understandable, efficient and affordable, like Cameralyze. Cameralyze is offering subscription based packages for their artificial intelligence solutions that can be integratible with every camera, CCTV and sensors. The system also uses a no-code platform which makes it usable without any coding knowledge. What those systems can offer your business is just far beyond its cost. You can analyze your customers emotions or can use it for employee verification after a short time of integration. You can blur their faces for privacy measures or can specify your most loyal customers.

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