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[Infographic] Understanding AI in Under 5 Minutes

Ever wonder how exactly does artificial intelligence (AI) work and what sort of impact could you expect in the near future?

We’ve curated a list of hand-picked insights for a quick read to understand the various facets of AI in under 5 minutes! See if there’s something useful for you here.

 

Artificial Intelligence: An area of computer science that emphasizes the creation of intelligent machines that work and react like humans.

General Traits: knowledge, reasoning, problem-solving, perception, learning, planning and the ability to manipulate and move objects.

Types of AI

1 – Functional AI: IoT solutions and robots

2 – Analytics AI: Sentiment analysis and supplier risk assessment

3 – Interactive AI: Chatbots and smart personal assistants

4 – Text AI: Text recognition and speech-to-text conversion

5 – Visual AI: Computer vision and augmented reality

Countries Winning AI

1 – United States

2 – China

3 – Japan

4 – United Kingdom

5 – Germany

6 – France

7 – Canada

8 – Russia

9 – Israel

10 – Estonia

AI Industry Impact

Estimated impact of AI and analytics per industry (% revenue)

Insurance – 16.8%

High tech – 15.5%

Pharmaceutical and medical product – 16.1%

Travel – 15.1%

Advanced electronics and semiconductors – 14.9%

Telecom – 13.2%

Media and entertainment – 12.4%

Banking – 10.3%

Consumer packaged goods – 9.4%

Aerospace and defense – 10.4%

Transport and logistics – 10.1%

Retail – 8.7%

Healthcare systems and services – 10.0%

Agriculture – 8.3%

Automotive and assembly – 6.2%

Basic materials – 5.8%

Chemicals – 3.8%

Public and social sector – 3.7%

Oil and gas – 3.6%

Future of AI

Forecasted cumulative global artificial intelligence revenue 2016 – 2025, by use case (US Dollars)

Static image recognition, classification, and tagging – $8,097.9M

Algorithmic trading strategy performance improvement – $7,540.5M

Efficient, scalable processing of patient data – $7,366.4M

Predictive maintenance – $4,680.3M

Object identification, detection classification, tracking – $4,201.0M

Text query of image – $3,714.1M

Automated geophysical feature detection – $3,655.5M

Content distribution on social media – $3,566.6M

Object detection and classification avoidance, navigation – $3,169.8M

Prevention against cybersecurity threats – $2,472.6M

Key Insights – AI and Digital Marketing

  • 54% of marketers plan to increase AI spend in the next three years.
  • 62% of consumers place higher trust in companies whose AI interactions are perceived as ethical.
  • 74% of consumers said they want more transparency when a service is powered by AI.
  • 75% of executives say AI will be actively implemented in their organization over the next 3 years.

source: technopedia.com, scnsoft.com, technology-info.net, seekingalpha.com, statista.com, econsultancy.com, eiu.com, Mckinsey Global Institute.

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