The AI market promises to be one of the fastest growing business and technology markets over the next decade
Boston, MA (PRWEB) February 18, 2016
Trends Equity, Inc. and strategic research partner Lux Research, Inc. today announced AI World Conference and Expo, to be held November, 7–9, 2016 at the Hilton Parc 55, San Francisco. The conference and exposition is designed to enable global 2000 business executives learn from, and network with, the leaders of the applied AI industry.
According to Eliot Weinman, conference founder and CEO of Trends Equity, “The AI market promises to be one of the fastest growing business and technology markets over the next decade. Over the past few years we’ve seen dozens of AI companies quickly acquired by the likes of Google, Apple, Facebook, Amazon, IBM and others, and according to Venture Scanner, there are 930 global companies, across 13 categories in artificial intelligence that have raised $4.4 billion.”
Even though the definition of AI remains open, forecasters are trying to quantify AI in dollar terms:
- Market intelligence firm Tractica forecasts cumulative revenue of $43.5 billion during the ten-year period from 2015 through 2024,
- Market Research Store predicts AI revenues will be $40 billion in the single year of 2022. This report states that the U.S. currently represents the largest market, and the fastest growing segment is Expert Systems which are increasingly being used in aviation, defense and financial institutions.
- Reports and Reports believes the advertising and media, finance, and retail sectors will be the main drivers and that total market size will be just $5.05 billion in 2020.
“The wild range of these forecasts reflect AI’s broad applicability and potential, but also confusion, risk, and opportunity to form the future,” offers Mark Bünger, conference co-chair and VP of Research with Lux Research. “At AI World Conference and Expo we seek to separate the nonsense from the insights, the goldmines from the landmines, and the reality from the hype.”
“We’ve created a comprehensive 3-day program that includes more than 40 sessions and workshops, mentor opportunities and entrepreneurial pitches along with an exhibition showcasing leading AI innovators,” explains Mr. Weinman. In addition to assisting business leaders to gain a firm grasp on what AI can do to help their companies become more competitive, the objective of the event is also to act as a catalyst and facilitator for the many channels of the emerging AI ecosystem. “There’s still time to get involved with the conference and we invite all innovative users, solution providers, entrepreneurs, investors, and media and association partners to join us in advancing the AI industry.”
About Trends Equity
For more than 25 years, the principals of Trends Equity have built industry-leading publications and events in diverse high tech markets such as mobile commerce, telecommunications, enterprise IT, application development and robotics. The company principals have been strategic advisors and partners with many of the world's leading computer software, hardware, services, research, associations and publishing firms. To learn more, please visit http://www.trendsequity.com.
About AI Trends
AI Trends, a publishing product of Trends Equity, is the leading industry media channel focused on the business and technology of AI. It is designed for business executives wishing to keep track of the major industry business trends, technologies and solutions that can help them keep in front of the fast moving world of AI and to gain competitive advantage. To learn more, please visit http://www.aitrends.com.
About Lux Research
Lux Research provides strategic advice and ongoing intelligence for emerging technologies. Leaders in business, finance and government rely on us to help them make informed strategic decisions. Through our unique research approach focused on primary research and our extensive global network, we deliver insight, connections and competitive advantage to our clients. To learn more, please visit http://www.luxresearchinc.com.
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