Artificial Intelligence (AI) Engineering is a rapidly growing field that is expected to revolutionize various industries, from healthcare and finance to manufacturing and retail. As AI continues to advance, it is becoming increasingly important for companies to stay on top of emerging trends and market forecasts in order to remain competitive.
According to a report by MarketsandMarkets, the AI Engineering market is expected to grow from $3.5 billion in 2020 to $16.4 billion by 2025, at a compound annual growth rate (CAGR) of 36.4%. This growth is driven by the increasing demand for AI-based solutions across various industries, as well as the rising adoption of cloud-based technologies and the Internet of Things (IoT).
- Edge AI: One of the emerging trends in AI Engineering is the rise of Edge AI, which involves deploying AI models on devices at the edge of the network, rather than in the cloud. This approach can help reduce latency and improve data privacy, making it ideal for applications such as autonomous vehicles and smart cities.
- Explainable AI: Another trend in AI Engineering is the increasing importance of Explainable AI, which refers to AI models that can provide explanations for their decisions and predictions. This is especially important in industries such as healthcare and finance, where transparency and accountability are crucial.
- AI-enabled Process Automation: AI is also being used to automate various business processes, such as customer service, inventory management, and supply chain optimization. AI-enabled process automation can help companies improve efficiency, reduce costs, and enhance customer satisfaction.
- AI Ethics and Governance: As AI becomes increasingly integrated into various aspects of society, there is growing concern about the ethical and social implications of its use. AI Ethics and Governance involves developing frameworks and guidelines for responsible AI development and deployment.
- AI and Augmented Reality: The combination of AI and Augmented Reality (AR) is expected to create new opportunities for immersive experiences and personalized interactions. This includes applications such as virtual try-on for retail, remote collaboration for manufacturing, and training simulations for healthcare.
Overall, the future of AI Engineering is bright, with significant growth potential and numerous emerging trends that are set to shape the industry in the coming years. Companies that stay on top of these trends and invest in AI-based solutions are likely to reap the benefits of this rapidly evolving field.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Market Insight Lab journalist was involved in the writing and production of this article.