Given the limited size of the current market, we believe direct beneficiaries in this stage will be software companies and robotic process automation industries with a first-mover advantage. And the list goes on, thus proving the inevitable ascendance of AI into our everyday lives.
Autonomous driving, though still in the early stages, has also made tremendous progress self-driving taxis were just recently launched in Singapore. Other benefits include significantly improving efficiencies in R&D projects by reducing time to market, optimizing transport and supply chain networks, and improving governance by better decision-making processes.Īlready today, there are expert systems that can scan and share overviews of legal documents from obscure previous court rulings with lawyers within seconds, saving time and money. And AI software will create significant business opportunities and societal value.įor example, virtual assistants or chatbots will offer expert assistance smart robots or robot advisors in the fields on finance, insurance, legal, media and journalism will provide instantaneous research or findings and within the healthcare field, AI software will assist with medical diagnosis and assistance. Dubbed a machine's brain, AI will likely power automation in sectors like autonomous vehicles and unmanned drones. Software companies will take up the mantle and charge ahead, pushing the boundaries of automation, search and social media. Assuming enterprise value/sales multiples of 10-15x, which is on par with other emerging fast-growing industries within the tech sector, AI as a standalone industry has the potential to claim a total market cap of USD 120-180 billion by 2020. This represents a 20% annual growth rate. By 2020, we believe exponential improvements and broader adoption should more than double revenue to become a USD 12.5 billion industry. In the next four years, however, we believe AI's industry growth will start to explode and its impact on businesses and society will begin to emerge.Īccording to our estimates, the AI industry was a USD 5 billion marketplace by revenue in 2015,, a respectable size for such a budding sector. But this will happen much later in the distant future. AI-powered machines and software will likely start to untether from human supervision, embarking on their fateful path as sentient beings. By the end of the decade, we believe the recent rapid advances in AI will eventually plant progress firmly into the AGI phase – the beginning of true autonomy.
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