Artificial Intelligence (AI) signifies to the human intelligence’s simulation within machines specially encoded to contemplate like humans and imitate their actions. Artificial intelligence is a blend of several technologies comprising deep learning and machine learning that assist in the developing software and hardware utilized for numerous applications such as perception, reasoning, problem-solving, and linguistic intelligence.
The key factor contributing to the growth of the global artificial intelligence software system market is the constant innovation and research in artificial intelligence by the tech giants fueling the implementation of advanced technologies within industry verticals, like healthcare, aerospace, automotive, finance, manufacturing, and retail. In addition, the development in Artificial Neural Networks (ANN) and deep learning has driven AI’s adoption thus fueling the expansion of the global market. COVID-19 or novel coronavirus was been declared as a pandemic by the World Health Organization (WHO), resulting in a huge impact on humankind and businesses. However, this outbreak has surfaced as a prospect for AI-enabled computer systems to battle against the disease. To cite, a Canadian start-up, BlueDot, in December 2019, had built an AI platform for recognition of infectious diseases and it had forecasted the epidemic of COVID – 19 infections prior to the pandemic announcement released by WHO.
The global artificial intelligence software system market is bifurcated based on technology, offering, end-user, and region. Based on technology, the market is divided into natural language processing, machine learning, computer vision, and context-aware computing. Based on offering, the market is classified into software, hardware, and services. The global artificial intelligence software system market, based on end-user, is categorized into healthcare, manufacturing, automotive, agriculture, retail, security, human resources, marketing, law, fintech, construction, defense, aerospace, supply chain, building automation, food & beverage, gaming, media & entertainment, telecommunication, and oil & gas.
Regionally, the global artificial intelligence software system market was ruled by North America and is also expected to witness robust growth during the forecast period. This regional growth can be credited to the suitable government programs to boost the implementation of artificial intelligence across numerous industries. Likewise, Asia Pacific is also projected to observe substantial expansion during the coming period. This expansion is expected to be contributed by the rising expenditure in artificial intelligence together with a rising count of artificial intelligence startups in Asia Pacific that have surged the implementation of artificial intelligence to enhance operational efficiency and facilitate process automation.
The key players actively participating within the global artificial intelligence software system market include Brighterion, Google, Baidu, Microsoft, IBM, Salesforce, Intel, IFlyTek, KITT.AI, SAP, Ada Support, Yseop, IDEAL.com, Megvii Technology, Brainasoft, Ipsoft, Astute Solutions, Albert Technologies, H2O.ai, NanoRep (LogMeIn), and Wipro.