Artificial intelligence (AI) was coined in 1956 as an academic discipline and has undergone tremendous transformation since then. It is considered one of the biggest technological revolutions. Need for fast information storage capacity, parallelization, and high computing power has translated into greater uptake of artificial intelligence technology across different industrial verticals.
Artificial intelligence is an area of computer science that deals with intelligence exhibited by machines. It is a simulation of cognitive functions of humans by machines. These functions include reasoning, learning, and self-correction. AI is an umbrella term that covers everything from actual robotics to robotic process automation.
Utilizing AI in Development of Self-piloting Navy Ships
Since its advent, artificial intelligence has experienced several waves of development. It is on its way to becoming an integral part of almost all industrial sectors worldwide. Companies are implementing the technology in their offerings in a bid to gain competitive advantages. For instance, in September 2017, Rolls-Royce revealed its plans to develop a self-piloting navy ship, which will be powered by artificial intelligence. The ship will include sensors and advanced propulsion, suitable for military applications. The 60-meter-long vessel will have a range of 3,500 nautical miles. Thanks to AI, the ship will be able to operate on its own, without any human interference, for over 100 days.
Market Insights
According to Grand View Research Inc., soaring need for understanding and analyzing visual contents to gain meaningful insights is likely to augment the global artificial intelligence market. AI can perform specific tasks such as data analysis better than humans, enabling enterprises to derive more benefit out of their data.
Increasing adoption of AI in end-use industries such as healthcare, retail, and automotive is expected to provide a significant push to the market. Organizations are utilizing artificial intelligence to provide innovative products and improve customer experience. On the other hand, lack of low-cost hardware to develop AI-enabled products can inhibit market growth.
The market holds immense potential. Persistent need for digital transformation is promoting mergers and acquisitions among technical and non-technical AI stake-holding organizations. Some of the prominent companies operating in the market are NVIDIA; IBM Watson Health; Intel Corporation; Google Inc.; and Microsoft Corporation.
In-Depth research report on Paints And Coatings Market:
https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-market
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