Artificial Intelligence Market in the US to reach $202.5 billion by 2026

reogma|Artificial Intelligence Market in the US to reach $202.5 billion by 2026

US is ranked as the number one country for AI across all categories & aspects such as , number of companies & experts, funding, patent applications & papers published on AI etc.

In addition, historically, majority of funding has also been invested in the US.

  • Definition / Scope
  • Market Overview
  • Key Metrics
  • Market Risks
  • Market Trends
  • Industry Challenges
  • Technology Trends
  • Other Key Market Trends
  • Market Size and Forecast
  • Market Outlook
  • Technology Roadmap
  • Competitive Landscape
  • Competitive Factors
  • Key Market Players
  • Strategic Conclusion
  • References

Definition / Scope

Artificial Intelligence or AI is the simulation of human intelligence processes by machines especially computer systems. Generally, these processes include reasoning, learning and self-correction. Some of the applications of AI include, expert systems, speech recognition and machine vision

An AI can be categorized as either weak or strong. For instance, a weak AI is known as AI whose system is limited to performing certain tasks only whereas strong AI is also known as artificial general intelligence, which is a system with generalized human cognitive abilities. In such case, AI is able to find solutions without human intervention

In case of USA, the AI application ranges across several industry verticals that include:

Transportation: In transportation, US is mostly focused on drones and self-driving vehicles. The use of drones is being researched on areas such as delivery of household goods, improve safety of dangerous occupations and expand access to life-saving medical supplies.

Similarly, the deployment of automated vehicles has potential to reduce serious car crashes, which is expected to be the result of 90% of human error. The application of such vehicles will also present new transportation options for Americans with disabilities & senior citizens

Healthcare: In America, the Trump administration is investing advance medical research to treat 250,000 American lives against a dominant condition called Sepsis. AI is set to enable innovative solutions to treat sepsis via machine learning algorithms.

In addition, CMS is distributing up to $1.6 million to encourage AI and real-world application in healthcare. Further, FDA is also for the first time allowing marketing of AI technology that can detect eye problems caused by diabetes

Manufacturing: The AI is planned to be deployed across several areas in manufacturing which include, defense industrial base, supply chain, employment etc.

The National Institute of Standards & Technology (NIST) is also working to provide guidelines and best practices for introducing wireless technology into smart manufacturing.

In April 2018, the institute also published guidelines and best practices for introducing wireless technology into smart manufacturing and AI is set to mitigate the threats related to cyber security as well

Financial Services: The department of treasury is growing at a fast pace and it is pursuing policies to promote the adoption of innovative tools such as AI and machine learning.

In addition, the US Securities Exchange Commission is also aggressively implementing machine learning algorithms to monitor and detect possible investment market misconduct.

Also, Consumer Financial Protection Bureau (CFPB) has also issued new policies to allow for an increased use of data & ML algorithms in financial products and services

Agriculture: One of the biggest challenge that the agriculture sector is facing today is need of feeding 2 billion people by 2050 and the US department of agriculture has positioned farmers, scientists, educators and American public to benefit from AI through innovation.

Some of the uses & application of AI into agriculture that the government is set to foster include, agriculture production, rural community support, sensor development, workforce development, weeding pesticide application, fruit harvesting, watershed models to maintain resilience of agricultural systems

Defense: USA is set to invest in AI & other emerging technologies for military applications. The department of defense is also funding for technologies supporting AI such as quantum information science, strategic computing etc.

In AI, the DoD aims to deliver AI-enabled capabilities to its end users and also develop common foundation of shared data, reusable tools, frameworks and standards essential in scaling the impact of AI across DoD

reogma|Artificial Intelligence Market in the US to reach $202.5 billion by 2026


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US is ranked as the number one country for AI across all categories & aspects such as , number of companies & experts, funding, patent applications & papers published on AI etc. In addition, historically, majority of funding has also been invested in the US. Definition / Scope Market Overview […]
reogma|Artificial Intelligence Market in the US to reach $202.5 billion by 2026reogma|Artificial Intelligence Market in the US to reach $202.5 billion by 2026

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