AI Sector Overviews Articles and Reports
Artificial intelligence “sector overview” reports are designed to help business leaders explore the possibilities and important AI trends across industries. Search our sector overview reports below:
Although one might assume healthcare companies are investing the most amount of money into AI for R&D efforts, such as clinical trials, drug discovery, and surgical robotics, the top healthcare companies don't seem to be publicizing their efforts if they are.
Applications for artificial intelligence technology within the financial industry are most often focused on document search and fraud detection. This is especially true for large credit card companies such as Visa and Mastercard, who themselves provide technology to smaller businesses and card issuers.
The US Department of Defense's DARPA has a plan to invest as much as $2 billion in artificial intelligence research and development in the next 5 years. This is on top of the $2 billion the federal government has already spent on AI-based technology R&D.
Various use cases and applications for AI and machine learning in the healthcare industry are proposed more frequently now than ever. Healthcare leaders may find it difficult to keep up with where AI is being applied in their sector.
Banks and financial institutions are particularly opaque when it comes to how they implement and leverage AI for their business. Mastercard is a key example of this because they use most of their AI applications internally and have only recently begun to make their technology more transparent to the greater financial industry.
We've spoken to many leaders in healthcare and pharma over the last half a decade, and when it comes to AI, the most pressing challenge that healthcare and pharma leaders report is that they're unsure of how to streamline and structure their data in a way that lets them build machine learning models. Healthcare companies are stuck in the data consolidation phase of their potential AI initiatives while vendor after vendor is trying to sell them on a new application that the company might not even be close to ready for.
The finance sector has proven itself an early adopter of AI in comparison to other industries. As such, the applications of artificial intelligence and machine learning in finance are myriad. Traders, wealth managers, insurers, and bankers are likely well aware of this in some form.