AI in business exploding, IBM says
'We are getting into the middle innings where companies are starting to get real outcomes from AI'
The adoption of artificial intelligence (AI) started off slow, but it’s starting to explode.
IBM, which has pumped billions into AI research and has been ranked the worldwide market share leader for the third consecutive year with a 9.2 percent share in the overall market, recently completed a global survey that found AI is no longer in the early stages of implementation.
HOW ARTIFICIAL INTELLIGENCE IS SHAPING THE FUTURE OF SOCIETY
Although adoption by businesses has been estimated at 5 or 10 percent, according to IBM data and artificial intelligence general manager Robert Thomas, the survey revealed that it’s inching toward 40 percent.
“We are getting into the middle innings where companies are starting to get real outcomes from AI,” Thomas told FOX Business’ Lauren Simonetti on “Mornings with Maria.”
What’s more, the implementation of AI in business is expected to rise dramatically over the next 18 to 24 months, expanding 80 to 90 percent.
Thomas said AI is shaping how companies drive business. IBM worked with the airline Lufthansa that now has a small team of data scientists who help customer service representatives understand data so they can better serve customers.
“It changes how you make predictions about changes, how you can optimize your business,” Thomas said.
But the rise of AI could also mean the fall of many other industries. One main concern is the elimination of many human jobs. The late high-profile British physicist Stephen Hawking said machines even pose a threat to the human race. However, Thomas believes it’s going to give employees and companies “superpowers.” One example, he said, is how it helps Harley Davidson make better predictions about future motorcycle owners.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
AI is also transforming health care. The AI health care market is expected to grow from $2.1 billion to $36.1 billion in 2025. IBM has teamed with health care provider Geisinger to develop predictive technology to flag sepsis risks, Thomas said.
In the coming year, in respect to particular sectors poised for growth, Thomas expects industries that are related to natural language processing and retail to flourish.
CLICK HERE TO READ MORE ON FOX BUSINESS