The Expanding Scope And Sphere Of Artificial Intelligence

By Author: Avaali Solutions
Total Articles: 7

Interest & investments in the space of Artificial Intelligence have been steadily increasing over the past few years. From a technology that was purely in the realm of science buffs & aficionados, AI has rapidly grown into a reality that is poised to change our lives in ways unimagined thus far. Multiple trends have accurately plotted the emergence of Artificial Intelligence as a force to reckon with in our times. The following graphs further amplify the ever-growing influence of AI on our lives:

In our ever-so-connected lives, no other company plays such a vital and ubiquitous role as Google does. And according to this latest report by Bloomberg the number of AI projects or projects that employ AI within Google has gone up by a whopping 900%. From just over 300 in 2013 to over 2700 by the end of 2016. This means the world’s largest information exchange is slowly but steadily leaning on AI to improve search results, contextual learning and natural language searches with the help of AI.

It is not just Google, who have the hots for AI, the last few years have seen increased funding and top dollar billing for AI. Companies & investors are increasingly hedging their bets on AI to be a viable and profitable paradigm in the near future. The funding topped $1B for a year in 2015 and although the scorching pace seems to have slacked in 2016, investors continue to make a beeline for companies willing to harness AI.

AI per se is a blanket term for a wide array of technologies that form a part of the AI umbrella. And the above graph published by Venture Investing illustrates that the lion share of AI funding is actually concentrated in one part – machine learning. This is a vital component of the overall AI ecosystem and with an ever-increasing number of companies venturing out into the space, some path breaking advances are just around the corner.