Artificial intelligence (AI) is a collection of multiple technologies that enable machines to sense, comprehend, and act. This is done either on their own or to augment human activities. The AI market continues to burst at the seams. In 2017, the global software system market size for AI was $2.65 billion. By the end of 2025, a recent report predicts it will grow to $78 billion. Tech Republic brought this interesting information to our attention in their article, “AI software market to hit $78B by 2025, here are the top applications for the technology.”
The market concentration of AI software systems is high, and is expected to stay that way. The United States currently holds the leading position for AI consumption.
Though AI is used for a variety of applications, the software is used mainly for voice processing, text processing, and image processing. In 2017, text processing was the most commonly used application, at 49.74%. This is expected to change with image processing growing in usage.
Melody K. Smith
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