Machine Learning Facts and Trend Statistics for 2019
While machine learning and artificial intelligence are not exactly the same, they are related. Machine learning is a part of AI, and by improving the ability of a machine to learn, it will also improve the speed at which a machine can function. As machine learning becomes more and more important, several trends and facts have emerged. Let’s take a closer look at some of these.
The Market for Machine Learning Continues to Grow
As artificial intelligence and machine learning have continued to grow in importance, it is only natural that there has also been growth in the market. When it comes to machine learning software, there is an estimate that the market will reach around $1 billion by 2025, and this is just for software. A lot of other money is involved in this endeavor, as well.
The overall amount of funding allocated to machine learning globally during just the first quarter of 2019 was $28.5 billion. The estimated value of deep learning software in the United States is estimated to be around $1 billion by 2025.
Machine learning is also essential for the various voice assistants used today. Deep learning, mentioned above, is a subset of the machine learning technology. It is this deep learning that is behind the various virtual voice assistants that have cropped up in recent years, such as Echo, Alexa, and Siri.
While many may claim that they do not use these voice assistants, the data does not lie. It is estimated that around 97% of mobile users are using these voice assistances. 51% use voice assistants in their vehicles. It is even estimated that half of all of the searches conducted online will be done through voice within the next year or so.
More and more people and companies are beginning to adopt machine learning technology at home and in their businesses. It is becoming more the norm rather than something novel. Estimates are that around a quarter of all IT leaders are considering using machine learning to help with security, and around 16% are looking for ways to use machine learning for marketing and sales.
Close to 49% of companies are looking at the idea of using machine learning in their business in some form or another, and a large number of companies want to be, or are, early adopters of this type of technology. It makes sense, as most companies do not want to be left behind to have to play catch up in a few years. 80% of companies claim that they want to have some AI helping with customer service within the next year, as well.
Keep an Eye on the Trends and Join Them
With the speed at which technology advances today, it is not feasible for a company that wants to remain competitive to steer away from machine learning and all that it entails. Instead, more companies may want to keep an eye on the evolving trends and look at how they might be able to use it for their own business.