In fact, a research report by ignite suggests that by 2020, nearly 250 million cars will be connected to the Internet globally. The company plans to expand the usage of da Vinci in general and thoracic surgery, colorectal surgery and hernia repair in the days to come.Īlthough AI-powered cars have not hit the showrooms yet, in February, Ford Motor Company F made huge investments in Argo AI, to develop a virtual driver system by 2021. This AI platform enables minimally-invasive surgery that helps avoid the trauma associated with open surgery. MedTech major Intuitive Surgical Inc ISRG designs, manufactures and markets the da Vinci surgical system - an advanced robot-assisted surgical platform. The growing prevalence of minimally-invasive robot-assisted surgeries, self-automated home-based care, use of IT for quick and improved patient care and shift of the payment system to a value-based model indicate the high prevalence of AI in the MedTech space. To substantiate, a report from Bank of America Merrill Lynch suggests that the big data market is set to reach a worth of $210 billion by 2020, thereby boosting AI and driving tech expenditure in days to come.ĪI has been enhancing the healthcare space with clinical applications, diagnostic support, operational efficiency, Electronic Health Record systems, practice workflows and supply chain management. Various reports suggest that growth in AI is directly proportional to growth in big data space. While all the major sectors are trying to utilize their resources to come up with the best in the burgeoning AI trend, here we have zeroed in on three major sectors that are making the most of it. So, it may not be too wrong to foresee a future where robots live cheek by jowl with humans!įrom Apple Inc.’s SIRI to Microsoft’s Cortana and Amazon’s ALEXA to humanoid Sophia, the impact of AI has been incredible. A report by Technavio suggests that the industrial robotics market in the country is expected to see an impressive CAGR of more than 12%. We notice that demand for robotic products in the United States has been shooting up at workplaces as well as households. If this was not fascinating enough, New Zealand-based entrepreneur, Nick Gerritsen recently developed the world’s first AI politician, Sam, who can address local issues related to education, housing and immigration. Per ROBO Global, the collective robotics market is anticipated to increase tenfold between 20.Ībout a month ago, the Kingdom of Saudi Arabia granted citizenship to the humanoid Sophia, developed by Hong Kong-based Hanson Robotics. If such an optimistic forecast is to be relied on, it would be a quantum leap over the 2016 level of only $1.4 billion.īe it virtual assistants or self-driven cars, AI has gained prominence across consumer, enterprise, and government sectors around the world. Research firm Tractica expects AI market revenues to reach $59.8 billion by 2025. In fact, stocks from the AI space have been providing handsome returns, significantly higher than the broader market. Since its germination in early 1950’s, AI has been enhancing our lives like never before. “ Some people call this artificial intelligence, but the reality is this technology will enhance us.” - Ginni Rometty, Chairman, President, and CEO of IBM.Įasing threats of a robotic apocalypse, the global Artificial Intelligence (AI) market is evolving at a lightning pace.
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