Yahoo News | How This CEO is Using Synthetic Data to Reshape Machine Learning for Real-World Applications
Artificial Intelligence (AI) and Machine Learning (ML) are certainly not new industries. As early as the 1950s, the term “machine learning” was introduced by IBM AI pioneer Arthur Samuel. It has been in recent years wherein AI and ML have seen significant growth. IDC, for one, estimates the market for AI to be valued at $156.5 billion in 2020 with a 12.3 percent growth over 2019. Even amid global economic uncertainties, this market is set to grow to $300 billion by 2024, a compound annual growth of 17.1 percent.
There are challenges to be overcome, however, as AI becomes increasingly interwoven into real-world applications and industries. While AI has seen meaningful use in behavioral analysis and marketing, for instance, it is also seeing growth in many business processes.