Growth market artificial intelligence

By 2025, the AI market is expected to grow to $36.8 billion. Exponential growth is forecast.

The market research institute Research and Markets also forecasts an increase to $16.3 billion by 2022 and an annual growth rate of almost 45 percent.

Experts agree: The importance of AI will increase significantly from 2017.

AI will generate economic growth

According to Research and Markets, AI has the potential to double annual economic growth and increase labor productivity by 40 percent.

For Germany, the consultancy Accenture forecasts an increase in gross value added by AI from 1.4 to 3.0 percent and considers a 29 percent increase in labor productivity possible.

Since the 1980s, the growth of leading economies such as the USA, Japan and Germany has slowed. Market researchers therefore see the new AI technology as the growth opportunity par excellence.

Key technology Machine Learning

AI has many faces. Knowledge-based systems, such as IBM's Watson, answer questions and can draw logical conclusions.

Through pattern recognition, intelligent software programs can identify people in pictures or product defects, as well as translate texts into other languages.

Examples include Google translators or Facebook, which uses AI to recognize friends in pictures. Other fields of application include pattern prediction, for example in data analysis, and robotics in the service sector and production.

As diverse as the applications are, machine learning plays an important role in all of them, with machines, robots and software programs improving their performance independently.

Machine learning is therefore a key technology and growth driver.

AI up to the executive floors

Experts predict a transformative impact through AI in many areas: Consumer, business and government.

Entire sectors of the economy, such as commerce, services, finance, healthcare and manufacturing, will experience profound changes. AI will reach the boardroom and influence decisions there.

Making the right strategic decisions is becoming increasingly important for companies, which is why Big Data and algorithms are being used as a basis for decision-making.

According to the study, 49 percent of German companies describe their decisions as "very strongly data-driven".

The management consultancy PriceWaterhouse Coopers notes that 97 percent of German companies already use data analytics to make decisions.

"Artificial intelligence is already being used in the area of data analysis or business intelligence (BI)"

comments Jakob Rehermann, managing director of BI developer Datapine. And further:

"Artificial intelligence will significantly increase the added value of data analytics and algorithms, and therefore play an important role in business decisions in the future."

The expert warns at the same time:

"For all the technological advances, however, gut instinct should not be completely ignored in decision making and replaced by AI."