Fast Facts: AI’s Biggest Obstacle Is Humans

Contributor: Jason Koestenblatt
Posted: 02/16/2018
AI Human

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.

The Artificial Intelligence (AI) market is about to embark on unprecedented growth due to demand, but while the explosion will further the technology to new heights, it’s facing one obstacle.

In a new report by MarketsandMarkets, the AI market value stands at $21.46 billion in 2018, and is forecast to reach $190.61 billion by 2025, boasting a CAGR of 36.62%. There is one major restraint for the market, the forecast says, and that’s the limited number of AI technology experts to power the innovation.

See related: Chatbots: AI’s First True Use Case For Enterprise Mobility

Manufacturing will account for the largest share of AI use during the forecast period, and North America will be home to the market’s largest share, as it has proven to be an early adopter of advanced technologies. That being said, the APAC region is expected to grow at the quickest CAGR in the eight-year forecast period.

As previously reported by Enterprise Mobility Exchange, the need for AI tools – furthering the proof of its soon-to-be widespread adoption – is becoming a booming market on its own.

“The increasing demand for AI-based solutions and proliferation in data generation are some of the major driving factors of the AI Platform Market,” the report said. “Furthermore, the increasing demand for intelligent business processes and growing innovation across end-users are expected to provide opportunities for the growth of the AI platform market.”

See related: 7 Essential AI Terms: What Do They Mean?

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Jason Koestenblatt
Contributor: Jason Koestenblatt