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:
Agriculture is both a major industry and foundation of the economy. In 2016, the estimated value added by the agricultural industry was estimated at just under 1 percent of the US GDP. The US Environmental Protection Agency (EPA) estimates that agriculture contributes roughly $330 billion in annual revenue to the economy.
Discovering a new drug is a long, expensive and often haphazard process. Thousands of compounds are subject to a progressive series of tests, and only one might turn out to be a viable drug. Any tool which can speed up just one of these steps in this long multi-step process would have big implications down the entire chain. This is why some of the largest pharmaceutical companies are turning to AI to help the process.
The U.S. commercial airline system is an economic engine which generated an estimated $168.2 billion in operating revenue in 2016. Ticket fares represented 74.5 percent of operating revenue or $125.2 billion. In 2016, the overall category of transportation represented approximately 2.7 percent of the national GDP.
For most people, the direct impact of improvements in weather forecasting may seem to be that it simply makes vacation planning easier, but even smallest advancement in predicting the weather can produce massive improvements for businesses and governments.
Facial recognition technology has been traditionally associated with the security sector but today there is active expansion into other industries including retail, marketing and health. By 2022, the global facial recognition technology market is projected to generate an estimated $9.6 billion in revenue with a compound annual growth rate (CAGR) of 21.3 percent*.
The food service industry is an economic staple generating billions of dollars in annual revenue and representing 2.1 percent of the U.S. GDP in 2016. Technology has made on-demand food ordering possible and the industry is pivoting towards more innovative approaches to meet and exceed customer expectations. As a result, artificial intelligence applications are steadily making their way into the food service industry.
eCommerce is a bustling segment of the retail industry representing an estimated $102.7 billion or 8.3 percent of total U.S. retail sales in 2016. Total retail trade was approximated at 5.9 percent of the national GDP in 2016. As digital transactions become the standard method of purchasing goods and services, leading eCommerce firms are exploring how AI can enhance brand competitiveness and customer loyalty.
The vision of an army of small unmanned aerial vehicles streaming through the sky to rapidly deliver food packages has captured the imagination of the public, the media, and most importantly some of the largest companies in the world. Achieving this vision won’t just require overcoming the technological and safety challenges, but also significant buy-in from the public and policy makers.