AI Sector Overviews Articles and Reports

A recent PricewaterhouseCoopers study revealed that the global market for drone-powered business solutions was valued at $127.3 billion in 2016. For agriculture, prospective drone applications in global projects were valued at $32.4 billion.

We previously covered the top machine learning applications in finance, and in this report, we dive deeper and focus on finance companies using and offering AI-based solutions in the United Kingdom. The UK government released a report showing that 6.5% of the UK's total economic output in 2017 was from the financial services sector. As of now, numerous companies claim to assist financial industry professionals in aspects of their roles from portfolio management to trades.

Forrester surveyed call center business leaders and found that 46% of them expect their business to grow by 5%-10% in 2019. To make this happen, Forrester reports that companies will increasingly explore the use of AI-driven chatbots and voice services.

International Data Corporation reports that the global wearables market continued to grow in the second quarter of 2018 as shipments reached 27.9 million units, an increase of 5.5% year-on-year. This growth translated to $4.8 billion year-on-year for the quarter. Smartwatches continued to be the most popular wearables.

Reuters referenced a Stratistics MRC figure estimating the size of the business intelligence industry around $15.64 billion in 2016. It follows that AI would find its way into the business intelligence world. In our previous report, we covered 6 use-cases for AI in business intelligence. As of now, numerous companies claim to assist business leaders in the finance domain, specifically, in aspects of their roles using AI.

We have identified three areas in finance where companies are applying AI to solve real business problems: fintech, regtech, and suptech.

Several factors have contributed to the advancement of AI in the pharmaceutical industry. These factors include the increase in the size of and the greater variety of types of biomedical datasets, as a result of the increased usage of electronic health records.

The clinical trial is a foundational pillar of the pharmaceutical drug discovery process. Essentially, clinical trials are research studies which seek to determine if a medical treatment or device is safe and effective for humans. While the pharmaceutical drug industry has experienced some fluctuations it remains a profitable market. Global prescription drug expenditures are estimated to reach nearly $1.5 trillion by 2021 according to Quintiles IMS Holding.