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:
According to Deloitte, global healthcare spending is expected to grow annually by 4.1% from 2017-2021, up from just 1.3% in 2012-2016. The report suggests this growth will be fuelled by aging, rising populations, the growth of developing markets, advances in medical treatments, and rising labor costs.
Accenture forecast the Industrial Internet of Things could contribute $10 trillion to the global economy by 2030. The report also suggested that sensors, material tracking mechanisms, 3D printing, automated product design, robotics, and wearables could help manufacturers reduce costs and increase productivity. Predictive asset maintenance could potentially reduce equipment and machinery maintenance costs by up to 30% and result in up to 70% fewer breakdowns.
The International Financial Reporting Standards (IFRS) and Financial Accounting Standards Board (FASB) have introduced new financial and accounting standards which require financial institutions to compile all their lease agreements and accounting reports electronically. These new standards may require significant changes to a financial institution's lease and contract management processes.
According to Deloitte and the Economist, global annual health spending should reach $8.734 trillion dollars by 2020, and, as mentioned in our previous report on AI for Healthcare in Asia, InkWood Research estimated the size of the artificial intelligence market in the healthcare industry at around $1.21 billion in 2016. As of now, numerous AI vendors claim to help healthcare professionals diagnose patients using machine vision. Other AI vendors claim to offer solutions for increasing adherence to drug therapy programs.
InkWood Research estimated the size of the artificial intelligence market in the healthcare industry at around $1.21 billion in 2016. We surveyed more than 50 executives from healthcare companies previously and laid out the state of AI applications in the healthcare space. It seems AI-based healthcare innovations have made their way into Asia, led by developments in China, India, Japan, and South Korea. Numerous companies claim to assist healthcare professionals in Asia with aspects of their roles, including assisting in diagnostics, remote caregiving, and improving a patient's ability to manage their health using data from wearable devices.
NASDAQ estimates more than $5 trillion is traded every day in what it describes as “the most actively traded market in the word:” foreign exchange, or forex. Business leaders might expect AI to make its way into the forex world the way it has into finance and banking broadly. Most companies claim to assist foreign exchange traders by predicting when to trade or hold onto currencies. As it turns out, however, Most of the AI vendors in the forex space are in fact only claiming to use AI. There is strong evidence to suggest that their claims are illegitimate.
Modern AI and machine learning software require large sets of data in order to train its algorithms to make judgments, make predictions, and take actions. Data is a critical part of bringing artificial intelligence to life in different industry sectors. The applications we’ve highlighted below involve organizing historical and real-time data from existing businesses in the retail sector from which data scientists can build machine learning models.
It should come as no surprise that AI has found its way into radiology in a similar fashion to most other medical fields. Many AI vendors selling into the radiology field are just beginning to gain regulatory approval. We researched the use of AI in radiology to better understand where AI comes into play in the industry and to answer the following questions: