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The global artificial intelligence market is being driven by the rising digitisation of data and the growing adoption of the technology across various industries. Artificial intelligence is finding growing applications in predicting the weather, space explorations, autonomous cars, and other technological advancements. It is increasingly being adopted in the healthcare sector to help analyse the large genomic data sets, along with providing more accurate treatment and prevention options. The solutions offered by the artificial intelligence market has, thus, proved beneficial in tracking, researching, and treating COVID-19 cases. In fact, in 2020, it was the Canadian startup, BlueDot, that was one of the first to identify the ‘unusual pneumonia’ cluster cases in China that eventually came to be known as COVID-19 through its platform, which uses artificial learning, big data, and machine learning to track and predict the outbreak of infectious diseases. Meanwhile, Google (NASDAQ: GOOGL) launched the COVID-19 Research Explorer, a semantic search interface, in May 2021 to help researchers and scientists find answers and evidence to their COVID-19 related queries.
In the coming years, the global artificial intelligence market is expected to continue witnessing a significant growth, with major technology companies increasing their investment into this sector. In May 2021, Microsoft, a leading player in the industry, announced that it had invested USD 75 million to build a new office dealing with Artificial Intelligence (AI) and Cloud space in Georgia, United States. Earlier in July 2020, the company had partnered with OpenAI, to launch a billion-dollar project, which was based on its Azure Cloud platform.
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The major players in the global artificial intelligence market are Google LLC, Microsoft Corporation, IBM Corporation, Intel Corporation, Cisco Systems, Inc., Apple Inc., and NVIDIA Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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