The Mind Commerce report predicted that AI would be the core component of all online communications
Data Mining will be a leading global segment for AI, reaching $8.5B in revenue by 2022. This finding was released in a report by Mind Commerce Publishing titled ‘Artificial Intelligence and Cognitive Computing: Market Outlook for Communications, Applications, Content, and Commerce 2017–2022’. There would be substantial opportunities for data mining software and platform developers to create algorithms, the report predicted.
Mind Commerce provides research and strategic analysis on the digital technology and telecommunications sectors.
The report foresees AI take on a substantive digital security role as signature-based protection is not sufficient for industry. AI would become a core component of virtually all online communication, digital content, and e-commerce by 2022, as it will be extensively embedded in many solutions, apps, products and services including predictive analytics. The report also mentioned that a combination of AI and cognitive computing is important to propel market growth in key industry verticals.
The key industry verticals covered in the research include internet-related services and products, financial services, medical and bioinformatics, manufacturing, and telecommunications. Some of the key application areas covered include marketing and business decision making, workplace automation, predictive analysis and forecast, fraud detection, and classification.
The report provides detailed forecasts globally, regionally, and across market segments. It also covers AI subset technologies, embedded in other technologies, and cognitive computing in key industry verticals. The report is aimed at sectors related to bid data analytics, robotics and automation, cloud, and IoT. Additionally, investment firms, all types of product and service providers, governments and NGOs, and R&D organizations could benefit from this report.