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SAN FRANCISCO, Feb. 5, 2020 /PRNewswire/ -- The global artificial intelligence marketsize is expected to reach USD 390.9 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 46.2% from 2019 to 2025. Artificial Intelligence (AI) is considered to be a revolutionary technological development and its integration across a host of applications is one of the key factors driving this market. Advances in image and voice recognition are driving the growth of the regional market. Improved image recognition technology is critical in enhanced drones, self-driving cars, and robotics.

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The two major factors fueling market growth are emerging Artificial Intelligence technologies and growth in big data espousal. Rising prominence of Artificial Intelligence is enabling new players to venture into the market by offering niche application-specific solutions. Furthermore, companies are engaging in industry consolidations in a bid to gain competitive advantages. For instance, in January 2017, Microsoft Corporation acquired Maluuba in order to advance in the deep learning and AI landscape. Existing solution providers are innovating their product portfolio to include both hardware and software solutions.

North America held the dominant share in the global AI market in 2018 thanks to the availability of high government funding, presence of leading players, and strong technical base. Asia Pacific, however, is anticipated to overtake North America to emerge as the leading regional market by 2025, registering the highest CAGR. This can be attributed to rapid improvements in information storage capacity, high computing power, and parallel processing, all of which have contributed to the swift uptake of Artificial Intelligence technology in end-use industries such as automotive and healthcare.

AI has the potential to reduce the burden on clinicians and provide an efficient tool to workforces for accomplishing their tasks in a better way. For instance, AI voice-enabled symptom checkers can better access a situation and assist patients to the emergency department when immediate treatment is required. Artificial Intelligence is expected to resolve around 20% of unmet healthcare demands.

Grand View Research has segmented the global Artificial Intelligence market based on solution, technology, end use, and region:

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Artificial Intelligence Market Size Worth $390.9 Billion by 2025: Grand View Research, Inc. - Yahoo Finance

For companies operating in the transportation marketplace, speed and accuracy are paramount. Carriers and shippers alike are continually on the lookout for ways to be faster, less expensive and more efficient to the point where standard delivery seems to mirror expedited shipping.

As the industry moves faster and faster, the documents and data generated grow at an exponential rate. Managing these documents often requires manual processes that are time-consuming and can bring any efforts to maximize efficiency to a standstill. The answer isn't to work harder but to work smarter. To avoid wasting time and resources on document processing, it is crucial for every transportation company to update document and data management strategies.

The transportation industry is in the midst of an artificial intelligence (AI) renaissance. Everything from workflow solutions to fleet management and financial decisions can be streamlined using an AI-based automated content management system (CMS).

A CMS is a software application that is used to manage a company's digital content. Transportation companies rely on a CMS to upload, process and distribute the countless documents and data involved in the shipping process. These software applications must be able to interpret data quickly without compromising accuracy.

"Transportation organizations need to start applying more technology to manage and react to data," said Larry Kerr, president and CEO of EBE Technologies. "In many cases, having the data and not reacting is worse than not having the data at all."

EBE Technologies provides automated workflow solutions for the transportation and logistics industry. The East Moline, Illinois-based company's SHIPS enterprise business process management solution is utilized by more than 600 transportation companies.

It goes without saying that everyone in transportation wants to achieve efficiency, reduce unnecessary costs and improve billing accuracy, but not all believe they have the power to upgrade. The truth, however, is that it's never been easier for transportation companies to utilize an AI-powered CMS.

Convincing companies to adopt AI workflow solutions is not difficult, according to Kerr.

"Recently, many of our clients have been affected by rising insurance costs," Kerr said. "Rates have been softer, which means the additional revenue to cover such costs must come from improvements in operating efficiencies."

However, simply using any CMS isn't sufficient to manage workflows effectively. Some transportation companies are unaware of the additional operating costs associated with the use of their current systems. Many such systems lack the ability to provide interoperability among companies' critical systems. In fact, market research firm IDC estimates that companies lose 20-30% in revenue every year due to inefficiencies related to process and content management.

The use of a CMS does save employees a tremendous amount of time from the often tedious process of manually routing documents and entering data. However, these systems may still require each transaction to be manually processed, ensuring it's routed safely to the proper department or critical system. According to an EBE Technologies white paper, a CMS with the power of AI workflows allows transportation providers to work by exception. Through this process, only out-of-standard transactions require staff intervention. AI allows providers to staff for exception levels, not 100% of the transaction levels.

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The AI-based work-by-exception process is further enhanced by optical character recognition (OCR) technology that possesses the ability to collect data by "reading" documents. Recognized OCR technology scans and automatically indexes a wide range of documents, including bills of lading, proof-of-delivery documents and invoices. A truly effective CMS, however, is incomplete without unstructured OCR processing, which converts unstructured text and optical marks into data and provides the catalyst for interoperability among critical systems, according to the white paper.

Utilizing both AI and OCR technology allows employees to focus their attention on completing out-of-standard transactions and determining the root cause for the failure. Once determined, the AI engine can be configured to manage such exceptions going forward. As a result, overhead costs and time to completion are reduced while data accuracy is greatly improved.

A CMS powered by AI workflows has a dramatic impact throughout the enterprise. As an example, it is not unheard of for companies relying on a traditional CMS to take upward of a week to gather and process the information needed to submit an invoice. The use of an AI-powered CMS with automated workflows has transportation providers benchmarking their invoice processing time to less than half an hour from the time of delivery, according to EBE.

"With AI managing the required documents and how they should be delivered, the possibility of human error is eliminated, which improves your billing functions," Kerr said. "When you provide the right documents to your customer quickly, hopefully you'll get your payment faster. With many shippers enforcing carrier scorecards regarding document and data availability, AI is now a requirement to meet shippers' expectations without additional labor."

According to EBE, utilizing a CMS powered by AI has advantages beyond improved data accuracy and working by exception to lower costs within a transportation organization. In the accounting department, carriers no longer find themselves paying duplicate invoices, net 10 terms are realized and fees for late payments are eliminated. In recruiting, AI allows carriers to respond to and onboard qualified candidates more quickly. In the safety department, data from disparate systems can be analyzed to identify at-risk driver behavior and provide corrective action automatically. In addition, the expiration of Department of Transportation documents and endorsements can be managed through automated processes. These are just a few examples of how an AI-powered CMS eliminates revenue leaks in operations and mitigates potential incidents and fines within the safety department.

Many transportation companies have embraced AI as a functional requirement, but not everyone is on board. As Kerr explained, the use of AI in the back office, as well as interoperability between systems, has only become viable in the last couple of years.

According to Kerr, in the past many systems lacked the ability to integrate with one another, resulting in redundant labor tasks. He noted that those barriers have now been broken, thanks to standard API interfaces among databases allowing for interoperability using AI. The API standardization greatly lowered the cost and risk associated with implementing an AI-based CMS.

EBE possessed the foresight to understand the critical relationship between the data within disparate systems. Through the open architecture of EBE solutions, the company was able to develop a robust AI-powered CMS solution, building upon its prior releases. This solution helps carriers achieve work-by-exception staffing levels, improve data integrity among systems and deliver a superior customer experience.

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Artificial Intelligence Is Critical In Today's Workflow Solutions - Yahoo Finance

NEW YORK, Feb. 4, 2020 /PRNewswire/ --

This study analyses the key trends and applications of artificial intelligence in the freight transportation industry by mode of transport i.e. road, rail, air, and ocean freight transportation. This research also analyses the disruptive impact of artificial intelligence on freight transportation business operations and discusses its adoption prospects till 2025. With increased trade flow, the fleet population in freight transportation has become denser, and expectations of customers have evolved beyond recognition, resulting in complex transport operations, requiring operational flexibility from freight operators. Human errors in operations, underutilized assets, low workforce productivity, inefficient operational planning, inability to match supply with demand, and trimmed profit margins are key prevailing concerns with freight operators. The emergence of digital technologies and the rapid technological advancements in digitization have transformed the business and operational landscape of the global freight transportation industry. It is essential for freight operators to embrace such operational complexity and evolve by adopting technologies to turn complexity into an advantage. Today, the world is connected more than ever, and the growth of data generation has been exponential with smart devices and process automation. Data-driven insights help freight operators move forward and gain competitive advantage over their peers. Artificial intelligence enables freight operators to harness data more effectively for actionable insights. Artificial intelligence powered systems in conjunction with other digital technologies such as internet of things and big data analytics utilize data to its full potential to anticipate events for freight operators, aiding them to avoid risks and create innovative solutions. Machine learning algorithms based on neural networks powered by artificial intelligence would unlock multiple benefits for companies operating in the freight transportation industry. AI brings changes to the supply chain with autonomous vehicles, helping fleet operators reduce operating cost with and fuel consumption and plan optimized routes for service. The freight operators that are enhancing their capabilities with artificial intelligence are reaping its benefits by increasing efficiency with predictive intelligence. Artificial intelligence also enriches the relationship between the shipper and carrier with personalized service offerings. Advanced sensor fusion with artificial intelligence supports the integration of smart infrastructure and operating assets and the freight operators in the development of connected freight ecosystem, aiding autonomous fleet management. The transformation of the logistics industry due to artificial intelligence is imperative in the near future; however, the readiness and openness of freight operators for an AI-based data-driven environment will determine how well this industry copes with challenges.

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Author: Suriya Anjumohan

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Artificial Intelligence (AI) in the Global Freight Transportation Industry, Forecast to 2025 - Yahoo Finance

When you hear the word cyborg, scenes from the 1980s films RoboCop or The Terminator might spring to mind. But the futuristic characters made famous in those films may no longer be mere science fiction. We are at the advent of an era where digital technology and artificial intelligence are moving more deeply into our human biological sphere. Humans are already able to control a robotic arm with their minds. Cyborgshumans whose skills and abilities exceed those of others because of electrical or mechanical elements built into the bodyare already among us.

But innovators are pushing the human-machine boundary even further. While prosthetic limbs are tied in with a persons nervous system, future blends of biology and technology may be seen in computers that are wired into our brains.

Our ability to technologically enhance our physical capabilitiesthe hardware of our human systems, you could saywill likely reshape our social world. Will these changes bring new forms of dominance and exploitation? Will unaltered humans be subjected to a permanent underclass or left behind altogether? And what will it mean to be humanor will some of us be more than human?

Initial answers may be closer than we think.

Physicist Max Tegmark, MIT professor and president of the Future of Life Institute, considers the recent advances in artificial intelligence and technology through an evolutionary lens to imagine us as more than human. He categorizes all life into three levels. In his view, the vast majority of lifefrom bacteria to mice, iguanas to lobstersfalls into what he calls Life 1.0. These creatures survive and replicate, but they cannot redesign themselves within their lifetime. They evolve and learn over many generations.

Moving up, somewhere between Life 1.0 and 2.0, Tegmark classifies animals such as some primates, cetaceans, and corvids that have the ability to intermesh biology and culture. These animals are able to learn complex new skills, like how to use tools. Humans take this to an extreme, and Tegmark categorizes humans as Life 2.0. Through extensive language, social intelligence, and culture, Life 2.0 individuals can jump into new environments independently of genetic constraints. (If you missed it, we wrote about how body modification, as one example, makes us more socially human in part I, Your Body as a Map, of this pair of posts.)

Just think about how our ability to learn a new language within our lifetime is a bit like adding a software package to a computer. We can add an infinite number of self upgrades during our lifetime and pass our knowledge on to future generations. We also can manipulate other life forms to our own ends on a grand scalefrom cattle farming to harnessing bacteria in the preparation of fermented foods like cheese.

But with the leaps were seeing in artificial intelligence, neuroscience, and biotechnology, our concept of animal and human could compete with the most imaginative Hollywood film. Life 3.0 doesnt yet exist on Earth, but Tegmark argues that in the future, we will see a technological life-form that can design both its hardware (which neither 1.0 or 2.0 can do) and its software (which currently only 2.0 can do).

Even in the near future, humans may be somewhere in between life-forms 2.0 and 3.0. In 2016, Elon Musk, CEO of Tesla and SpaceX, co-founded Neuralink, a company that aims to develop a braincomputer interface. Musk says his goal is to help human beings merge with software and be in sync with advances in artificial intelligence.

Whether people will volunteer to have a robot insert wires into their brain that are attached to a tiny chip implant remains to be seen. But humans across cultures have embraced a variety of technologies in surprising ways.

Today over 5 billion people have access to mobile phones. By 2025, around 71 percent of the worlds population is expected to be connected. The thought that virtually every aspect of a persons day might be influenced by a smartphone or something like it once seemed like science fiction. But as the number of digital natives grows, our relationship with technology does too.

Some of us readily anthropomorphize our gadgets and give our apps and devices names such as Siri or Alexa. We talk to them, allow them to control our surroundings, finances, shopping, and schedules. Yet many hesitate when it comes to embedding technology in our bodies if we are otherwise physically healthy.

Take, for example, microchips inserted under the skin, which can be used to pay for your shopping as well as a bus ride home. This is little different from a credit card in your back pocket, save for the convenience of not having to remember to take it with you.

Our resistance may be influenced by the yuck factor of new or different technologies or cultural shifts. But over time, what we think of as disgusting or offensive may become normalized. Lab-grown meat, for example, has gone from being a scientific and economic fantasy to something that might well be in stores by 2022. Similarly, eating insects, for those unused to the idea in the West, has become more accepted as a sustainable source of protein.

Even if more of us grow to accept the idea of implants, is Life 3.0 a genuine possibility? For now, mindcontrolled prosthetics are the closest innovation that hints at a Neuralink-type future. Such prosthetics are still in relatively early stages of development and not universally available. Nonetheless, as far as Musk is concerned, many of us are already cyborgs, with an indepth digital version of ourselves in the form of social media, email, and much more. His team, or others, may well inch us toward a version of Life 3.0.

Other early signs of how technologically integrated lives might function and impact our individual lives and societies are visible in places such as Scandinavia, where checks and cash are on their way out. In Denmark, for example, the majority of citizens make payments using their mobile phones. The absence of cash has had a direct effect on homeless people. Without smartphones of their own, homeless individuals were unable to receive payments for the newspapers they sold to earn money.

The solution was to provide homeless people with smartphones (and thus mobile payment methods). No longer a luxury, mobile phones became a basic tool vital for anyone engaging in modern society in Denmark.

As soon as we move into the idea of integrated technology as a social essential, we recognize a thorny possibility: a world where a new path to social or class dominance emergesperhaps a division between those who can and those who cannot afford to interface with technology. It begins to sound like the plot of the 20th-century dystopian novel Brave New World.

In that new world, would the Life 2.0 human without enhancements be relegated to a servile underclass? Perhaps this reflects a false dichotomy. After all, millions of people living in relatively remote regions around the planet have been able to fast-track to mobile technology, effectively skipping over earlier versions of the telephone and other communication technologies.

Nonetheless, developers of integrated technologies involving invasive surgery would be wise to consider the social ramifications of their work. Today we can accurately reconstruct the wealth distribution of an entire nation based on individual phone records. Can we predict the negative social impacts of a future Life 3.0? If contemporary clues are any answer, yes, we can. But whether we choose to ameliorate those impacts or not still lies within our control.

Matthew Gwynfryn Thomas is a data scientist and anthropologist working in the nonprofit sector in London, U.K. His current work combines machine learning and social science to address the needs of people in crisis. He has also written popular science articles for a variety of outlets, includingBioNews, SciDev.Net, and the Wellcome Trust Blog. Follow him on Twitter@matthewgthomas

Djuke Veldhuis is an anthropologist and science writer based at Monash University in Australia, where she is a course director in the B.Sc. advancedglobal challenges degree program. Her Ph.D. research examined the effects of rapid socioeconomic change on the health and well-being of people in Papua New Guinea. She has written for a series of popular science outlets, including SciDev.Net,Asia Research News, andNew Scientist. Follow her on Twitter@DjukeVeldhuis

A version of this article was originally published at the Conversation and has been republished here with permission.

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'More than human': How neural implants, robotics and artificial intelligence are redefining who we are - Genetic Literacy Project