Market Overview:
The Artificial Intelligence Platform Market size is estimated to reach $44.8 Billion by 2030, growing at a CAGR of 17.5% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Artificial Intelligence Platform Market – By Type (Software, and Services [Professional Services, Managed Services]), By Technology (Natural Language Processing, Machine Learning, and Others), By Deployment Model (Cloud, and On-premises), By Organization Size (Small & Medium sized Enterprises, and Large Enterprises), By Application (Forecasts and prescriptive models, Chatbots, Speech recognition, Text recognition, and Others), By Industry Vertical (Manufacturing, Healthcare, Banking, Financial Services and Insurance (BFSI), Retail & E-commerce, IT & Telecom, Automotive, Education, Media & Entertainment, Transportation, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030”
Integration with cloud computing and ai-driven automation are fueling the growth of the Artificial Intelligence Platform industry during the forecast period.
North America Dominated the Market in 2023:
North America held the largest share of 39% in the Artificial Intelligence Platform Market in 2023 due to several key factors that position the region as a leader in AI innovation and adoption. First, North America, particularly the United States, is home to some of the world's most prominent technology companies, such as Google, Microsoft, IBM, and Amazon, which are at the forefront of AI research and development. These companies have heavily invested in AI infrastructure, cloud computing, and AI platforms, accelerating the deployment of AI solutions across various industries. Additionally, the region has a robust ecosystem of AI startups, venture capital funding, and academic institutions that drive innovation. The widespread adoption of AI in sectors like healthcare, finance, automotive, and retail further strengthens North America’s leadership in the AI platform market. Industries in the region are leveraging AI for process automation, predictive analytics, customer service enhancements, and operational efficiency improvements. Moreover, government support through AI-focused policies and funding for research and development programs fosters growth in the market.
Artificial Intelligence Platform Market: Key Takeaways
Integration with Cloud Computing:
The integration of AI platforms with cloud computing is a significant trend driving the growth of the AI market. Cloud-based AI platforms allow businesses to access scalable and flexible AI solutions without the need for extensive infrastructure. Cloud providers like AWS, Microsoft Azure, and Google Cloud have made it easier to integrate AI models into existing systems, offering platforms-as-a-service (PaaS) for AI model development, deployment, and management. This trend also allows small and medium enterprises (SMEs) to leverage AI capabilities at lower costs, democratizing access to AI. Additionally, cloud-based AI platforms benefit from continuous updates, high availability, and built-in security features, which further enhance operational efficiency and innovation. According to the people who spoke to Reuters, some at OpenAI believe this could be a milestone in the company’s quest to build artificial general intelligence, a much-hyped concept referring to an AI system that is smarter than humans. The shift to cloud-based AI solutions is also driving the development of industry-specific AI platforms, tailored for verticals like healthcare, finance, and retail.
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AI-Driven Automation:
AI-driven automation is a transformative trend reshaping the operational landscape across industries. AI platforms are increasingly being used to automate complex processes, improve decision-making, and enhance productivity. This includes robotic process automation (RPA), machine learning (ML), and natural language processing (NLP) for tasks like customer service, data processing, and supply chain optimization. In November 2023, Dell Technologies, Intel and the University of Cambridge announce the deployment of the co-designed Dawn Phase 1 supercomputer. Leading technical teams built the U.K.’s fastest AI supercomputer1 that harnesses the power of both artificial intelligence (AI) and high-performance computing (HPC) to solve some of the world’s most pressing challenges. This sets a clear way forward for future U.K. technology leadership and inward investment into the U.K. technology sector. The rise of AI-based automation tools such as chatbots and virtual assistants is streamlining customer interactions, while advanced AI algorithms are enabling real-time data analysis for predictive maintenance, fraud detection, and financial forecasting. This trend not only boosts operational efficiency but also reduces costs and errors, leading to improved business outcomes.
Scope of the Report:
Recent Developments
- In May 2022, Infosenseglobal has announced the community release of ML Sense, a first and unique, no code artificial intelligence platform to develop machine learning models in the most nimble and agile manner. The product comes out of the box with more than 40 machine and deep learning models ready to use.
- In March 2024, Microsoft Corp. is expanding its collaboration with NVIDIA to bring the power of generative AI, the cloud and accelerated computing to healthcare and life sciences organizations. The collaboration will bring together the global scale, security and advanced computing capabilities of Microsoft Azure with NVIDIA DGX Cloud and the NVIDIA Clara suite of computing platforms, software and services to help healthcare and life sciences organizations accelerate innovation and improve patient care.
- In January 2024, Google announced Lumiere, an AI video generator that it calls "a space-time diffusion model for realistic video generation" in the accompanying preprint paper. But let's not kid ourselves: It does a great job of creating videos of cute animals in ridiculous scenarios, such as using roller skates, driving a car, or playing a piano. Sure, it can do more, but it is perhaps the most advanced text-to-animal AI video generator yet demonstrated.
- In April 2023, H2O.ai, the AI cloud leader, today announced a strategic partnership with Japanese-based GeoTechnologies, a provider of map data and location information solutions for car navigation systems. The companies used the H2O AI Cloud to jointly develop an AI-powered platform that assesses sidewalk safety from on-board camera footage.
Artificial Intelligence Platform Market: Competitive Landscape
Key companies profiled in the Artificial Intelligence Platform Market are Microsoft Corporation, Salesforce, Inc., Clarifai, IBM Corporation, Intel Corporation, AWS, Inc., Databricks, Baidu, Inc., Wipro, Google LLC, H2O.ai, AiCure, NVIDIA Corporation, Sensely, Inc., Arm Limited and others.
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