4 Emergent Artificial Intelligence Strategies for 2020: The Ideas Poised to Bring Value to the World
AI startups and machine learning-focused enterprises are carving out an increasingly visible and relevant space for themselves in the marketplace. Consumer data company Statista reports that in 2020, the global AI software market – encompassing machine learning, computer vision, and natural language processing (NLP) applications, among others – is expected to reach a size of almost US$22 billion. What AI strategies, applications and processes are startups exploring to uncover new value in the market? Here are four emergent ideas that are poised to gain traction and investment energy in 2020. AI Logistics and Supply Chain Management This is a sector that's always been prime territory for AI innovation to make a difference and new companies continue to lead the way in expectations for growth and value. Advanced data analysis applied to supply chain monitoring allows companies to manage every process element precisely and in real-time, from monitoring orders, to restocking, fulfillment and more. Primary challenges for enterprises in supply chain management include demand fluctuation, inventory planning optimization and patching intra-supply chain communications gaps. Machine learning-focused startups are stepping up to provide much-needed solutions that add performance and value to enterprise operations.
- Aera Technology is helping enterprises that rely on efficient supply chain management to deploy “cognitive automation... that can process terabytes or even petabytes of data.”
- Machine learning
- Natural language processing
- Rule-based expert systems
- Physical robots
- Robotic process automation
- PathAI is at the forefront of developing machine learning technologies that allow more accurate patient diagnoses, working with healthcare providers, pharma developers and even the Bill & Melinda Gates Foundation.
- Caspar is developing advanced AI applications that integrate with home and IoT technologies, creating a single platform that learns preferences, enhances safety and boosts automation convenience.
- Veritone's AI solutions for entertainment and media include applications for advertising, product placement tracking, data enrichment and analytics, archive management, and customized technologies that add operational performance and versatility.