Fast Facts: AI Is Taking Over APIs, SDKs

In the fast-paced IT industry, new statistics and data are released daily. Each week, Enterprise Mobility Exchange publishes Fast Facts, taking a look at interesting or noteworthy information impacting businesses.

Artificial Intelligence is integrating itself into just about everything, and now it’s beginning to take over the intricacies of backend software components.

In a new forecast from MarketsandMarkets, Artificial Intelligence as a Service is showing eye-popping growth over the next half decade, boasting a CAGR of 48.2% through 2023, rising from $1.52 billion in 2018 to $10.88 billion in five years.

“The growing demand for AI as a service in the form of Application Programming Interface (API) and Software Development Kit (SDK) and growing number of innovative startups are some of the major factors that are expected to drive the AI as a service market,” the report said.

“Furthermore, the increasing need for intelligent business applications and growing demand for AI service integrators are expected to provide growth opportunities for the market.”

See related: Where Is Enterprise AI Right Now?

“Until we have more AI infused in general applications and simple, off the shelf tools that can help SMBs build custom applications to take advantage of the technology, it will remain, for the moment at least, mainly a technology for the larger organization,” said CCS Insight Vice President Nick McQuire.

“But as we have seen from recent moves from Google AutoML, the technology’s ability to reach a wider developer audience is moving fast and will soon, in my view, be appropriate for smaller firms and even executives to develop custom uses for it.”

North America will dominate the market in terms of market size during the five-year period, the forecast said.

“The growing technological advancements, increasing need for intelligent business processes, and rising adoption of digital technologies across the North American region are expected to fuel the growth of the AI as a service market.”

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