Artificial intelligence

• [New] By 2021, the intelligent automation market is expected to be $2.9 billion, with a compound annual growth rate of 7% between 2020 and 2025.
• [New] The global Artificial Intelligence in Drug Discovery Market size is estimated to reach USD 3,932.87 million by 2027, exhibiting a CAGR of 40.5% from 2020 to 2027.
• [New] More than 60% of life sciences companies say they spent over $20 million on AI initiatives last year, and more than half expect investments to increase in 2020.
• [New] 58% of UK leaders believe that by 2030, AI will generate more revenue for their organisation than human workers.
• [New] 93% of UK business leaders believe that in 2035, AI technology investment will be the biggest driver of growth for their organisation.
• [New] With the UK having no known graphite deposits feasible to make battery anodes, and Benchmark Mineral Intelligence foreseeing UK capacity requiring ~200,000 tpa by 2027, Talga's large and high-grade resources offer a strategic and local supply.
• [New] Robots and artificial intelligence are replacing a larger share of existing jobs, with a recent estimate suggesting that 8.5% of the global manufacturing workforce could be displaced by industrial robots by 2030.
• [New] By 2050, Smithfield expects advanced robotics, AI and data analytics to be at the forefront of modern manufacturing.
• [New] Grand View Research estimated the global artificial-intelligence market at $39.9 billion in 2019, projected to expand at a compound annual growth rate of 42.2% from 2020 to 2027.
• More than 60% of life sciences companies spent over $20 million on artificial intelligence initiatives last year, and more than half expected their AI spending to increase in 2020.
• By the end of 2020, 25% of all companies will integrate a chatbot or virtual client assistant using NLP technology into their customer services.
• After the split, which should occur by the end of 2021, the slimmed-down IBM will focus on expanding its presence in the hybrid cloud and AI markets.
• By the year 2030, as much as $15.7 trillion will be pooled into the world economy and AI is the attributing factor.
• Nearly three in four health care organizations surveyed expect to increase their AI funding in 2020, with executives citing making processes more efficient as the top outcome they are trying to achieve with AI.
• More than 60% of life sciences companies spent over US$ 20 million on AI initiatives in 2019, and more than half expect investments in AI to increase in 2020.
• Financial services companies that deploy AI wisely will realize a net gain in jobs of 14%, and see revenues increase by 34%, by 2022.
• The growing technologies such as Internet of Things, cloud, cyber security, big data analytics and Artificial Intelligence are expected to drive Qatar's growth in the next two to four years.
• For several years now, studies by the US intelligence services (CIA) have been predicting that China will be the world's first economy by the year 2030.
• The AI accelerator chip market is expected to be the fastest-growing, reaching $33.51 billion in 2024 from $10.14 billion in 2020, thanks to the rapid proliferation of high graphic content and complex applications in edge devices.
• Worldwide revenues for artificial intelligence software, hardware and services will reach $156.5 B in 2020, increasing 12.3% over 2019.
• While machine learning and AI will increasingly power and shape the human decision-making going forward, AI-driven digital businesses will spur new security systems representing a new trend in 2020.
• Revenue generated by AI hardware, software and services is expected to reach $156.5 billion worldwide in 2020.
• While overall meat consumption still trails behind countries such as the US, China's annual pork consumption of 54m tonnes - the highest total worldwide, though some countries still consume more per capita - is only expected to grow in the coming years.

Last updated: 22 November 2020