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AI Market Set To Hit $23 Billion

Despite this public debate between Elon Musk and Mark Zuckerberg on whether or not artificial intelligence (AI) is good for humanity (CDN, July 27) , AI appears to be still in high-growth mode.

(Musk and Zuckerberg clashed at an event in San Francisco, where Musk described AI as a risk to human civilisation, Zuckerberg described Musk’s view as “negative” and “irresponsible” – and Musk responded that Zucker had only a limited understanding of the subject).

Analyst firm Research and Markets predicts the global AI market is poised to grow at around 44.3 percent over the next decade, to reach about US$23.4 billion by 2025.

Luke Tang, GM of TechCode, a global accelerator for AI start-ups, says that AI is now synonymous with innovation. “The idea people have is that you can apply AI and machine learning to any technology and you’ll have something revolutionary,” he said.

But he added: “While AI companies are a dime a dozen, currently there aren’t many chip companies with products capable of handling the intensive computing of AI. With a lack of options within the chip industry, we’ll start to see tech giants and investors alike look more closely at chipmakers that can not only bring AI beyond its current stage, but also support AI technology into the future.”

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