Prospects for the development of Artificial Intelligence

In the last 30 years, humanity has created as much information as it failed to produce in the previous two millennia!

And this is only the beginning. It is already physically impossible for specialists to process such a significant amount of data.

In order to stay competitive, small and large businesses are actively implementing Artificial Intelligence (AI) capabilities — neural networks, Machine Learning, Internet of Things, BigData.

The most developed countries that are actively developing AI

According to the research, Russia, Belarus, and Ukraine are the countries that receive the largest number of international grants for AI development, win competitions, and receive huge investments.

Several well-known Ukrainian startups actively use AI in their solutions.

· The Ukrainian startup UniExo won Robot Launch 2017, an international robotics innovation competition.

· The American-Ukrainian startup Grammarly has language processing technology at its core. It occupies one of the leading places in the world as a tool to improve writing.

· Petcube, a popular Ukrainian startup, uses machine learning and artificial intelligence for its pet detection technology.

Organizations Increase AI Budgets

According to Algorithmia’s “The 2020 state of enterprise machine learning” report, organizations were stepping up investments in Artificial Intelligence even before the pandemic, and the economic uncertainty of COVID-19 has added to the relevance of these technologies.

83% of organizations have increased their AI budgets, and the number of data scientists has increased by an average of 76% year over year. In addition, organizations are expanding the range of AI applications.

The study found a 74% increase in the number of organizations with more than five options compared to last year.

Here are a few recent statistics to complete the picture:

· The AI market will be valued at $266.92 billion by 2027. Recall that in 2019 this

figure was $27.23 billion.

· 54% of business owners admit that AI adoption has led to an overall increase in productivity.

· Up to 15% of customers around the world are served by artificial intelligence rather than human employees.

· One in four (23%) organizations employ a chatbot.

· 54% of marketing departments have “invited” AI to collaborate.

· 44% of companies say their business costs have decreased since implementing AI.

· By 2023, the total number of smart voice assistants will exceed 8 billion.

Summary

We may see a significant increase in the development of artificial intelligence in the coming years in various areas of business and customer service.