Albany, NY -- (SBWIRE) -- 03/06/2019 -- Artificial Intelligence (AI) is a computer-science algorithm and analytics-driven approach to replicate human intelligence in a machine. The AI technology has an enormous potential and is programmed for developing traits like reasoning, speech recognition, problem solving, learning, planning, and ability to control objects. The global artificial intelligence and advanced machine learning market is expected to make big leaps in the near future due to increasing number of applications.

Currently, the global artificial intelligence and advanced machine learning market supplies natural language learning, analysis, and automation to a wide range of industries. As AI technology matures, it can replace human beings from routine and cumbersome processes completely. The process has already started, resulting in cost savings, more autonomy, and more reliability for companies. For example, artificial intelligence and advanced machine learning market already caters to banks with fraud detection technology.

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Global Artificial Intelligence and Advanced Machine Learning Market: Key Trends

Digitalization has become a key driver of the global artificial intelligence and advanced machine learning market. Digitalization is increasingly driving everything from hotel bookings, transport to healthcare in many economies around the world. However, digitalization leads to fragmentation of end users who are increasingly out of touch with the company, and brand. AI technology, driven by big data analytics and cloud computing is helping to connect companies to track, follow, and interact with consumers through effortless and cost-effective automated mechanisms. As natural learning evolves, AI technology is paving way for effective marketing, content creation, and consumer interactions.

Machine learning is another trend expected to drive the global artificial intelligence and advanced machine learning market. Machine learning and predictive analysis is increasingly used in finance, retail, and healthcare. Machine learning not only helps companies connect with consumers but also predicts their next move and automate purchasing on their behalf. A recent example of this is Amazon's speaker Alexa.

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The trend is expected to continue as major technology companies are investing resources in the development of AI. Due to large cost-saving, effort-saving, and reliable benefits of AI automation, machine learning is expected to drive the global artificial intelligence and advanced machine learning market during 2018–2026.

Global Artificial Intelligence and Advanced Machine Learning Market: Regional Outlook

The global artificial intelligence and advanced machine learning market is divided into five regions. This includes North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. The global artificial intelligence and advanced machine learning market is expected to grow at a robust pace in North America. Large number of technology giants in the region, growing need for automation in manufacturing, and increasing reliance on automation for cost-savings in consumer relations industry are expected to drive growth of the global artificial intelligence and advanced machine learning market in this region.