Even though Artificial Intelligence (AI) has been around as an academic and scientific discipline since the 1950s, AI technology has gained a lot of traction in the last few years. It’s needless to mention that the current surge in AI research, investment and real business applications is unprecedented.
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Market Intelligence firm IDC in their New IDC Spending Guide, September 19, 2018, predicted that the worldwide spending on cognitive and Artificial Intelligence systems would reach $77.6B by 2022. Similarly, Gartner projects the business value created by AI at $3.9T by 2022.
AI applications do not just have the promise to yield better business results but improve the human experience as a whole.
Here in this article, we’re going to have a look at the nine significant industries that can be benefited by AI applications in the near future. But first, let’s quickly ensure that you understand what is artificial intelligence.
American computer scientist and cognitive scientist John McCarthy, who coined the term in 1956, defines AI as “the science and engineering of making intelligent machines.” According to the Science Daily journal, the AI is defined as “the study and design of intelligent agents where an intelligent agent is a system that perceives its environment and takes actions which maximize its chances of success.”
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