AI/Machine Learning: Predicting A Long Term Market Size Is Impossible

by Tim Sloane 0

Incremental thinking can’t possibly capture how broadly machine learning will impact every aspect of business, government, and consumer behavior. This in turn throws into question any effort “to provide reliable and authentic projections of the market” as promised by MarketResearchReports:

“Artificial intelligence (AI) is a technology that allows machines to take decisions based on data collected by them and pre-programmed tasks assigned to them. This technology is expected to transform all sectors of the industry as it reduces laborious work of employees and eliminates human errors. Applications of AI in banking is expected to facilitate various processes of organizations, which will result into enhanced user satisfaction. MarketResearchReports.biz has added a report “The Future of Artificial Intelligence in Banking,” which gives an in-depth analysis about this trend and effects of AI in banking in the future. This study is presented by highly qualified market research professional to provide reliable and authentic projections of the market. Data from both primary and secondary sources have been considered for formulation of this research report. Several aspects of the trend are included to offer 360 degree assessment of effects of this technology on banking sector. Numerous figures are added in the report to allow market players understand various applications of AI in banking.”

New machine learning capabilities will be brought to market faster and faster as the existing machine learning tools are applied to enhance existing platforms and create synthetic training data using adversarial networks (which pits one machine learning platform against another. This has created artificial languages and can be used to create a large set of training data that can’t be discerned from the original smaller training data set).

Even as the Mercator report “Bringing AI into the Enterprise—A Machine Learning-Primer” was being written, incredible breakthroughs were happening on a weekly basis! Mercator suggests that these machine learning platforms will become Observational Program Development platforms. By observing the events and actions associated with a process, these platforms will eventually be able to deliver greater insights regarding outcomes and will be able to replace the people and software systems that are executing the process today. It is difficult enough to determine what business processes and consumer behaviors machine learning will impact in the next 3 years, much less predict a market size.

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

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