The demand within the global artificial intelligence and advanced machine learning market is rising on account of the growing relevance of automation technologies. The application of artificial intelligence across multiple industries including healthcare, IT, banking, and manufacturing has played a key role in market growth. Furthermore, the quest for agility and improved control in these industries has also given a thrust to market growth.
The next decade is projected to overhaul the functional dynamics of all major companies and organisations. Machine learning is expected to be at the forefront of this dynamic change. Hence, the global artificial intelligence and advanced machine learning market is slated to accumulate voluminous revenues in the coming times.
This blog by Transparency Market Research (TMR) on the global artificial intelligence and advanced machine learning market is a representation of the prominent market trends.
Growth of Smart Technologies
The advent of smart meters and grids within the electricity sector has played a part in market growth. These technologies are based on the deployment of intelligent solutions that can minimize the electricity bill through management of electricity surplus. Furthermore, the use of machine learning in self-correction of flaws across the entire range of the power utility has also aided market growth.
AI in Healthcare to Drive Market Demand
The healthcare sector has emerged as a key consumer of artificial intelligence technologies. The study of human body parts and simulation of surgical procedures can be accomplished with the help of artificial intelligence technologies, thus, giving a thrust to market growth.
North America to Lead Market Growth
On the basis of geography, the global artificial intelligence and advanced machine learning market can be segmented into Latin America, North America, the Middle East and Africa, Europe, and Asia Pacific. The artificial intelligence and advanced machine learning market in North America is expanding due to the deployment of machine learning in several US companies.
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