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According to the International Health, Racquet & Sportsclub Association, the global fitness industry earned revenues estimated at $83.1 billion in 2016, up from $81 billion in 2015, and growing by 2.6%. If it continues at this rate, it should reach $87.5 billion in 2018. As of now, numerous AI vendors claim to assist gyms with signing up new gym customers, developing nutrition and fitness programs, and maintaining good customer relationships. Some offer chatbots that they claim can help gym members maintain personalized fitness regimens.

When it comes to planning an AI initiative, a business will need to determine the method by which to acquire the data necessary to meet their objectives. Data is essential when it comes to succeeding with AI. An effective AI strategy is built on top of data that is specific to the business problem a company is trying to solve.

We discussed the difficulties large businesses may have in adopting AI in our previous article; despite this, last month we fleshed out the reasons why it’s still more difficult for small businesses to apply AI than the enterprise and how they might catch up to larger businesses in the future.

Both artificial intelligence and robotics have been improving over the past few years. Large companies are betting billions that in the near future we will have cars that can drive themselves, drones that can fly themselves to deliver packages, automatic fast food chefs, AI personal assistants, manufacturing robots that can train themselves and other robots, etc.

Big data is big business. But in an age of digital privacy paranoia, it isn’t always easy for tech companies to get their hands on information – particularly when some of the most potentially beneficial data is also confidential, locked up in healthcare and finance companies who aren’t comfortable sharing.

This interview analysis is sponsored by Deloitte and was written, edited, and published in alignment with our Emerj sponsored content guidelines. Learn more about our thought leadership and content creation services on our Emerj Media Services page.

This interview analysis is sponsored by Deloitte and was written, edited, and published in alignment with our Emerj sponsored content guidelines. Learn more about our thought leadership and content creation services on our Emerj Media Services page.

Founded in 1833 and headquartered in Irving, Texas, since 2019, McKesson is a leading distributor of pharmaceuticals and medical supplies. They also provide health information technology and care management tools.

AXA is a multinational insurance company founded in France in 1816. AXA offers a range of individual and business insurance solutions in over 50 countries. Aside from insurance, AXA also has businesses specializing in investment management and other financial services. 

Most AI product firms are founded and grown in a similar way.

It usually goes something like this: