“Artificial Intelligence (AI) the hype of technology” has now become history. AI is increasingly being absorbed in the everyday business operations not just to replace the humans as predicted earlier but to make the total process efficient. Initially, AI was considered just an invent of future technology but now it’s become a part of the machine learning technology. The AI is one of the technologies that’s being looked at the derivative of human intelligence to produce a decision making the self-conscious machine. Many people still think that AI is just a buzzword as no real application can be seen in the world, though they might be lacking how AI is transforming the data technology.
Enterprises such as Microsoft have invested heavily in the AI R&D leading in the patent race. There have been over 154,000 AI patents filed worldwide since 2010. Between the period of 2013 to 2018 the category has seen a rise of 34 percent patents annually. Microsoft has filled for close to 697 AI patents that will provide a significant business advantage to Microsoft. Microsft Research has hired visionaries, tech enthusiasts and academic experts to work on their AI projects completely being funded by the Microsoft. AI-based marketing patents are the fastest growing global category almost touching the CAGR of about 29.3 percent between 2010 and 2018.
Machine learning dominates the AI development roadmap, in a case of the current innovation majority are focussed towards the deep learning and neural networks. The cloud technology is also adding an impetus to the development of AI technology influencing the technology across the globe. AI has said to impact the income drastically it’s attributed that it will add around 1.2 percent to annual GDP growth over the next decade. Business has accepted AI with open arms however common people are skeptical about the growing interference of technology in everyday life and also privacy issues.