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Cloud Artificial Intelligence Market

Cloud Artificial Intelligence Market

by Offering (Hardware, Software, and Services), Technology (Computer Vision, Machine Learning, Nature Language Processing, and Others), Industry Vertical (Healthcare, Retail, BFSI, Media & Advertising, Government, Manufacturing, Automotive & Transportation, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2029

Report Code: A09364
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Nov 2022 | 1851 Views
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Pandemic disrupted the entire world and affected many industries.

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Cloud Artificial Intelligence Market Insight

Artificial intelligence (AI) and cloud computing have emerged as dual mode technology to enhance the lives of millions. Digital assistants such as Google Home, Siri, and Amazon’s Alexa blend AI and cloud computing in our lives every day. On a wider scale, AI capabilities are employed in the business cloud computing environment to make business processes more strategic, efficient, and insight driven. Cloud computing provides businesses with more agility, cost savings, and flexibility by presenting data and applications in the cloud. AI capabilities are now layered with cloud computing and is assisting companies to search for patterns, manage their information, and deliver customer experiences, and improve workflows.

Impact of COVID-19 on Cloud Artificial Intelligence Market: 

  • Organizations are hereby encouraged to sensitize their employees around information security outside of the office space. Working from public spaces should be restricted and organization should utilize technologies that ensure confidential information to remain secure on these devices in the case of theft or damage.
  • Organization’s should take proactive steps by advising their staff and customers to be more vigilant and cautious especially when opening links, emails or documents related to the subject COVID-19. Organizations should ensure their detection and alerting capabilities are functional while keeping an eye on the impact of having many remote workers.
  • Google, Inc. is using its database services to spread awareness by mailing about the pandemic precautions to be taken for every user via its application Gmail.
  • Gmail which is a part of cloud database market is playing a vital role for providing information regarding COVID - 19. 

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The increase in demand for intelligent virtual assistants, adoption of AI to improve customer service and growth in big data are the major factors driving the growth of cloud artificial intelligence market during the forecast period. However, limited number of AI experts can hamper the market growth to a certain extent. Contrarily, rise in need to improve operational efficiency in manufacturing industry and increase in adoption of cloud-based applications and services among various industries are the opportunity factors of the global market.

Adoption of AI to improve customer service

Digital infrastructure is witnessing colossal adoption at unprecedentedly rapid pace, and the trend is estimated to grow at a liner rate. Automation of services has chosen the fastest pace, giving users the much-required facility to fulfill their regular tasks. Support services industry is gaining high momentum due to on-going disruption of Artificial Intelligence as a technological revolution that has taken almost every business industry by its advancements.

AI powered digital solutions are set up to improve every aspect of business including brand reputation, online customer experience, loyalty, preventive assistance and even production of revenue streams. In January 2017, Google, Inc. launched its Cloud AutoML. It utilizes Google’s Cloud Vision application programming interface and Cloud machine learning engine service. AutoML is used by several leading companies, such as Urban Outfitters and Disney. It is making shopping and search on their specific websites more relevant. It also supports image recognition that allows consumers to drag the images and instruct their systems to recognize those on Google cloud.

Limited number of AI experts 

Currently, every organization is on verge to utilize artificial intelligence (AI) applications to gain positive revenue impact in their businesses. This has driven the need for AI experts to help them make their vision a
reality. One report suggested there about 300,000 AI professionals worldwide, in spite of the fact that there are a large number of jobs accessible. While these are unpredictable figures, the competitive wages & benefits packages and the hostile recruiting tactics rolled out by firms to recruit AI talent would suggest the supply of AI talent is nowhere near matching up to the demand.

As the democratization of deep earning and AI applications provide opportunity for tech giants but now feasible for small- and medium-sized businesses—the demand for AI experts to do the work has expanded as well. 

The other reason for AI skills crisis is that our academic and training programs are not updated to meet new discoveries and pace of innovation with AI. Not only do AI professionals need official training, they need hands on understanding. Therefore, insufficiency of experienced AI experts for leadership roles required by organizations who are just beginning to adopt AI strategies into their operations is an restraint of the market.

Key benefits of the report:

  • This study presents the analytical depiction of the global cloud artificial intelligence industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cloud artificial intelligence market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global cloud artificial intelligence market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global cloud artificial intelligence market analysis based on competitive intensity and how the competition will take shape in coming years.

Cloud Artificial Intelligence Market Report Highlights

Aspects Details
By Regions
  • Computer Vision
  • Machine Learning
  • Nature Language Processing
  • Others
By Type
  • Solution
  • Services
By Industry Vertical
  • Healthcare
  • Retail
  • BFSI
  • Media & Entertainment
  • Government
  • Manufacturing
  • Automotive & Transportation
  • Others
Key Market Players Apple Inc, Google Inc, IBM Corporation, IP soft, Intel Corporation, MicroStrategy Inc, Microsoft Corporation, NVIDIA Corporation, Qlik Technologies Inc, Verint Systems Inc.

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