Research firm Tractica forecasts that,
“The revenue generated from the direct and indirect application of AI software is estimated to grow from $643.7 million in 2016 to $36.8 billion by 2025.
This represents a significant growth curve for the 9-year period with a compound annual growth rate (CAGR) of 56.8%.“
They specifically mention, and I agree with this, that
“AI is seen as a black box that is able to process large amounts of data at scale, able to identify anomalies, predict future outcomes, or better optimize processes.”
There are some complications related to the “black box” approach, which gave the name to this blog (read here). However, that is not going to stop the growth of AI business and technology.
An interesting chart below summarizes the Top-10 cases of AI business applications, and makes the revenue projection for each case for 2025:
Notice how much money is projected for the Contract analytics ($750M or so per year) and for Algorithmic Trading (close to $2.5B!). And the Predictive maintenance field will generate about $1.4B in revenue by then.
There will be lots of business opportunities for those working in the field of AI in the future.