AI as a Service Market Size Soars with Advancements in Cloud Computing and AI Integration

AIaaS market is primarily driven by the increasing demand for AI capabilities across industries & cost-effectiveness and scalability offered by AIaaS solutions.

PORTLAND, PORTLAND, OR, UNITED STATES, June 1, 2023/EINPresswire.com/ — The global AI as a service market size accounted for $2,397.2 million in 2017, and is expected to reach $77,047.7 million by 2025, growing at a CAGR of 56.7% from 2018 to 2025. In 2017, North America dominated the global market, in terms of revenue, accounting for about 47.0% share of the global market, followed by Asia-Pacific.

Artificial intelligence as a service (AIaaS) involves outsourcing of artificial intelligence (AI). Most of the manufacturers and industry professionals partner with firms that can provide a full suite of services to support a large-scale AI solution. Public cloud providers reveal APIs and services that can be used up without creating conventional machine learning models. These services take benefit of the underlying infrastructure owned by cloud vendors.

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Organizations across industries are recognizing the potential of artificial intelligence to drive innovation, improve efficiency, and gain a competitive edge. However, building and deploying AI systems in-house can be complex and resource-intensive. AIaaS provides a solution by offering pre-built AI models, algorithms, and tools that can be easily integrated into existing applications or workflows. The growing demand for AI capabilities without the need for extensive in-house AI expertise is a major driver for the AIaaS market.

Cloud computing has revolutionized the delivery of IT services, and AIaaS is no exception. The scalability, flexibility, and cost-effectiveness of cloud platforms have made AI accessible to organizations of all sizes. Cloud providers are offering AIaaS solutions that enable businesses to leverage the power of AI without the need for extensive infrastructure investments. As cloud technology continues to evolve and mature, the AIaaS market is expected to expand further.

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AI is increasingly being integrated with other emerging technologies, such as Internet of Things (IoT), big data analytics, and natural language processing (NLP). This integration enables AI to leverage vast amounts of data generated by IoT devices and analyze it in real-time. The combination of AI and big data analytics facilitates more accurate predictions and actionable insights. The integration of AI with NLP allows for advanced language processing capabilities, enabling chatbots, virtual assistants, and voice recognition systems. These trends drive the adoption of AIaaS to harness the power of AI in combination with other technologies.

As AI becomes more pervasive, concerns around ethics, bias, and transparency have gained prominence. Organizations and consumers are increasingly conscious of the potential societal impacts of AI systems. This has led to a growing emphasis on ethical AI practices and responsible AIaaS offerings. AIaaS providers are developing frameworks and tools to ensure fairness, accountability, and transparency in AI models and algorithms. Responsible AIaaS helps organizations address ethical considerations and build trust with their customers.

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The major players, such as Amazon, Microsoft Corporation, Alphabet Inc. (Google Inc.), IBM Corporation, Apple Inc., Intel, Inc., SAP SE, Salesforce, Inc., Fair Isaac Corporation, and CognitiveScale, Inc., focus on developing new products. These companies have expanded their business by collaborating with other small vendors.

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