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:
In their recent Worldwide Spending on Cognitive and Artificial Intelligence Systems report, IDC estimated that banking investments in cognitive and AI systems in 2018 might total around $4.0 billion. Many AI vendors claim to offer software for numerous finance use cases, such as credit scoring, insurance underwriting, debt collection, fraud detection, and more recently, financial regulations, or so-called regtech.
Adoption of chatbots—coded programs that can engage in some degree of conversation with human inputs, often through the help of artificial intelligence (AI) or machine learning—is undoubtedly a growing trend. There are thousands of chatbots in use today, on websites, messaging apps, and social platforms. It follows that bots would find a prominent place in the retail world.
There are several companies claiming to offer AI solutions to consumer packaged goods (CPG) companies. We found that these solutions are intended to help CPG companies with at least one of the following business problems:
International Data Corporation (IDC) reported in their Worldwide Semiannual Big Data and Analytics Spending Guide that global investment in big data and business analytics (BDA) will grow from $130.1 billion in 2016 to more than $203 billion in 2020. In a previous report, we covered machine learning in the finance sector, and in this report, we dive deeper into big data solutions and data management platforms for financial institutions. The companies in this report all claim to help financial institutions with at least one of the following:
The oil and gas industry is usually divided into three major operational sectors: upstream, midstream, and downstream. Upstream involves the exploration and production of oil and natural gas. Midstream usually refers to transportation and storage stages. Downstream encompasses the various processes involved in refining and selling oil.
Government interest in AI has picked up in recent years, and many government officials are starting to ask the same questions business executives were asking two or three years ago. Governments and large NGOs are starting to invest in AI, spending budget and time on pilot programs for various AI applications and discussions with people in the field on the future implications of the technology.
Moore Stephens estimated the size of the marketing technology or martech industry around $24 billion in 2017. It follows that AI would find its way into the martech world. Numerous companies claiming to assist organizations in their marketing; we wrote a report on marketing and AI detailing this connection.
KPMG estimated the size of the automotive insurance is expected to shrink by 70% due to the rise in demand for autonomous cars and the shift in liability then being placed on the car manufacturer. With the rise of AI in most sectors, it follows that AI would find its way into the automotive insurance world. AI may allow car insurance companies to keep up with an evolving consumer base that is looking for faster service, faster payouts, and policy prices tailored to them.