The artificial intelligence (AI) industry is booming. AI software is becoming more pervasive in every software product or service across the technology stack and is being integrated into more widely available applications across industry verticals. Furthermore, AI software services are being embedded into all kinds of packaged enterprise software applications and platforms – from ERP and CRM systems to e-commerce platforms, application development and integration platforms, and more.
AI is as important as the cloud was in terms of giving customers real competitive advantage over the next 5-10 years. AI has immense potential to jump-start the creation of new industries and the disruption of existing ones.
New industry segments around AI are in the making and are far from tapped. Micro-segmented, hyper-personalized online shopping platforms; GPS-driven ride-sharing companies; recommendation-driven streaming channels; adaptive learning–based educational tech companies; and conversational AI–driven new and work scheduling are just a few of the imminent and visible examples that provide a cursory look at new-age businesses.
Partnerships are critical to realize faster time to value with AI. In addition, AI Marketplaces for commercial purposes are slowly making their way and becoming key GTM options. Pre-trained and retrainable AI models from leading machine learning companies are being made available on third party marketplaces. Monetization methods, model traceability /auditability and regulations are the key inhibitors. Federated learning could perhaps overcome the challenges posed by the ethical aspects of AI implementation as it pushes the boundary further by sharing the information across the devices with sophisticated anonymity.
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