The United States Artificial Intelligence Market Is Expected To Grow At CAGR Of ~26% By 2028: Ken Research

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What is the Size of US Artificial intelligence industry?

US Artificial Intelligence market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028. The US Artificial Intelligence Market has been developing for the last few years now & is widely applied across various fields including healthcare, finance, manufacturing, retail etc. which has been influencing its growth across these industries. In the United States, the most prominent examples of AI applications include natural language, processing, machine learning, computer vision, robotics and autonomous systems. Several key factors have ensured that the Artificial Intelligence Market has grown multi-fold within the country. First, increasing investment by both public & private sector have ensured that the AI industry is thriving.

Second, the continuous progress made by the country in finding hardware, AI algorithms & computing power which makes sure that the US Artificial Intelligence market continues to thrive & contribute to the country’s economic growth.  Third, many companies are adopting the artificial intelligence mechanisms in order to improve efficiency, enhance decision making & develop innovative products & services. For instance, Microsoft focuses on using AI for web search & image generation.  Lastly, there is immense support by the government of United States. With schemes like National Initiative & American AI Initiative make sure that artificial intelligence is used for economic development & national security.

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Us artificial intelligence market by Type

The US Artificial Intelligence market is segmented by Components into Software & Hardware. Amongst the two components, software is becoming the dominant segment in the market in 2022, as its demands are constantly increasing.

Software & services includes various types of AI platforms, frameworks & applications that enable businesses to build & deploy AI solutions. AI software includes natural language processing (NLP), computer vision, machine learning & deep learning tools. These services cater to businesses seeking to integrate AI into their systems. Hardware consists of specialized processors & chips designed to accelerate AI computations, Graphic Processor Units (GPUs) and Tensor Processing Units (TPUs) are prime examples of AI-specific hardware which is used to run & train AI models.

Us Artificial Intelligence Market By Industry

The US Artificial Intelligence market is segmented by Industry into Healthcare, Finance, Retail & E-commerce, Manufacturing & Automotive industry. Undoubtedly, manufacturing industry is leading the way when it comes to using artificial intelligence in 2022. Predictive mechanisms are used to monitor equipment & machinery in real time.  In certain manufacturing sectors like automotives & aerospace, AI powered autonomous vehicles & drones were employed for material handling & inventory management, enhancing the efficiency & safety of these operations.

Us Artificial Intelligence Market by geography

The US Artificial Intelligence market is segmented by Geography: North, East, South & West regions. North region of the US artificial intelligence market includes Silicon Valley & Seattle. Silicon Valley is dominant mode in the market in 2022. It is a house to many tech giants, start-ups & research institutions working on developing cutting-edge technologies. South region includes places like Texas, Florida & Georgia, which have seen an increase in AI related activities, driven by growth of AI companies & research centers. This region is also seeing the application which includes agriculture, energy & finance. AI Development is not limited to specific regions, as there are pockets of AI research & start-ups across the country.

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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:

• • Government agencies
  • Tech companies
  • Investors & Venture Capital Firms
  • Academic & Research Institutions
  • Businesses across Industries
  • Consulting Firms
  • Educational Institutions
  • Non-profit organizations

Time Period Captured in the Report:

• • Historical Period: 2017-2022
  • Base Year: 2022
  • Forecast Period: 2023-2028

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US artificial intelligence market

How Google and IBM Watson Started AI Revolution in US? : Ken Research

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Google has invested $30 billion towards developing its search engine & Google Assistant. Moreover, companies like Google & IBM are playing a key role in facilitating AI related start-ups make it big in AI market.

Google & IBM are two leading players in the United States Artificial Intelligence market. Both these companies have massively invested in the market, not only for themselves, but also to ensure other AI-related start-ups & companies are thriving. Thereby, increasing their own customer base as well.

Story Outline

• IBM Watson’s Natural language processing services have enabled significant cost savings & data security for companies processing large volumes of documents with advanced features like content mining & keypoint analysis
• Google’s massive investment in AI, amounting to 7 million dollars have fuelled innovation in various domains including search, mobile apps & healthcare. They have also invested in start-ups to expand their customer base.
• Both Google & IBM offer AI powered solutions for cybersecurity & customer experience. IBM provides AI based cybersecurity solutions while Google offers Cloud Security Workbench & other AI models to tackle security threats.
• According to Ken Research, the US artificial intelligence market is expected to reach more than 100 billion towards 2028, owing to digitalization & a significant reliance on AI-integrated systems for analyzing large amount of data & improving operational efficiency.

1. IBM Watson & Google Transforming Industries with Advanced NLP

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Natural language is a smooth interface where humans & machines can understand each other’s language, which involves speech recognition & voice generation. One of the companies which used Natural Language Processing (NLP) by IBM Watson, was able to 600,000 documents & could save $10 USD million dollars of time, while also keeping the data safe.

IBM NLP’s service includes Content mining, smart document understanding, keypoint analysis, to name a few things. These services can be used individually too & can be integrated easily into the daily workflow.

For Google’s Natural Language Processing, their research focuses on extracting algorithms which can be applied at scale across languages & domains to change user’s experience in search, mobile apps, ads, translations etc. across Google.

Some of the key features in Google’s NLP include: AutoML for high quality machine learning models; Natural Language API for understanding with the help of sentiment analysis, entity sentiment analysis, content classification & syntax analysis; Healthcare Natural Language API to take out machine learning insights from medical documents.

2. Google & IBM’s Massive AI Investments to Fuel Innovation

Google is one of the biggest players in AI markets, not just in the US, but across the world. In 2022, they have invested about $30.7 billion in AI for improving its search engine & other products like Google Assistant. The company has been investing in various start-ups. In February 2023, Google had invested $300 million Anthropic, with its money & computing power towards the booming generation of AI companies. They’ve initiated these investments in such companies, to increase their customer base.On the other hand, IBM had invested $200 million in 2021 to develop it’s AI assistant Watson & deliver insights from billions of sensors in cars, drones, machines, ball bearing, equipment etc. In 2023, a $102 million AI investment supported by IBM was developed. This investment reportedly stood in tough competition to OpenAI’s ChatGPT.

According to Ken Research, the US Artificial Intelligence Market , is expected to reach more than 100 billion towards 2028 because of digitalization & a significant reliance on AI-integrated systems for analyzing large amount of data & improving operational efficiency.

3. AI Powered Solutions by Google & IBM lead the way to Cybersecurity

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As artificial intelligence is getting more traction across the United States, one needs to make sure that their data is safe from data breaches & cyber-attacks. IBM provides cybersecurity through AI-based solutions like IBM Security Q-Radar SOAR, IBM Security Q-Radar SIEM etc. which provide effective insights & right actions to counter cyber threat.

In 2023, Google announced Cloud Security Workbench, a cybersecurity suite powered by specialized AI model called Sec-PaLM, which was made to resolve security cases, along with Mandiant Threat Intelligence AI, a Google property which will find, summaries & act on security threats.

VirusTotal, another Google property helps in analysing & explaining behavior of malicious scripts. Tackling security-related threats will allow the AI market to grow.

4. AI Powered Solutions by Google & IBM for Best Customer Experience

IBM Assistant Chatbot chart showing customer experience

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Google has launched Cloud Center AI to leverage personalized customer management for any organization, extending the ability to offer services through a human agent, virtual agent or both. This helps in resolving data fragmentation & providing personalized, flexible support.

For customer experience, IBM has Watson Speech to Text, which uses AI technology to understand the customer’s voice & turn it into usable, searchable text in real time. The benefits of this AI tool include call transcription, seamless conversation & speedy live agent call resolution.

Tools like these are helping businesses to deliver to their customer’s expectations & offer quality services.

Conclusion

The revolutionary advancements by Google & IBM Watson have reshaped industries, enabling efficient data analysis, cost savings & enhanced customer experience. Both companies have made massive AI investments to drive innovation & expand their reach, leading the way in cybersecurity solutions to protect against data breaches & security threats. With these tools by Google & IBM, businesses can easily provide personalized, high quality, driving growth & meeting expectations.

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Artificial Intelligence USA Market