Dive Brief:
- Business services, advertising and media & entertainment will be among the top 10 industry sectors for enterprise AI adoption and use, according to a new report from Tractica.
- But AI will eventually touch virtually every industry, the report predicts.
- Overall, Tractica estimates revenue for enterprise AI applications will explode, from $358 million this year to $31.2 billion by 2025.
Dive Insight:
Tractica said it expects that the investment, finance, healthcare, manufacturing, agriculture, legal and education industries to be the other top early adopters of AI. The lure of automation and streamlined business processes means that enterprises will likely move to adopt AI technology in troves.
AI has attracted large investments from startups and leading technology companies like Intel and Salesforce. Last week, Salesforce announced it is planning to release an artificial intelligence product called "Einstein," which will integrate AI across the company's product suite.
Some experts have warned about the potential impact of AI on jobs in a number of industries. For example, Citigroup predicted earlier this year that European and U.S. lenders will slash 1.7 million jobs in the next decade. But Jamie Broderick, head of UBS Wealth Management U.K., recently told CNBC he does not think that will happen. Instead, AI will actually enable workers to do more.
"At the higher end artificial intelligence just ends up improving decision support, freeing up senior managers to do the things that are really value-added things that they are good at," said Broderick.
