Artificial Intelligence as a Service (AIaaS) is the third party offering of artificial intelligence (AI)
outsourcing. AI as a service allows
individuals and companies to experiment with AI for various purposes without
large initial investment and with lower risk. Experimentation can allow the sampling of multiple public cloud
platforms to test different machine learning algorithms.
Different
AI provider platforms offer a number of styles of machine learning and AI.
These variations can be more or less suited to an organization's AI needs since
organizations need to evaluate features and pricing to see what works for them.
Cloud AI service providers can offer the specialized hardware needed for some
AI tasks, like GPU based processing for intensive workloads. Purchasing the
required hardware and software to start on-premise cloud AI is costly. Coupled
with staffing and maintenance costs, as well as hardware changes for different
tasks, makes AIaaS cost prohibitive to many organizations.
The
Artificial Intelligence as a service industry is expected to grow at a
significant rate over the next 5 years, due to the need to reduce
infrastructure costs and analyze large volumes of data to formulate various
growth strategies. The growing demand for AI-powered services in the form of
Application Programming Interface (API) and Software Development Kit (SDK) and
increasing number of innovative startups are some of the major factors that are
expected to drive the AI as a service market.
Major
vendors in the global AI as a service industry include International Business
Machines Corporation (IBM, US), SAP SE (Germany), Google (US), Amazon Web
Service, Inc (AWS, US), Salesforce (US), Intel (US), Baidu, Inc (China), Fair
Isaac Corporation (FICO, US), SAS Institute (US), and BigML (US).
The
objective of the study is to define, describe, and forecast the global AI as a
service market on the basis of service types (software tools and services),
technologies (machine learning [ML] and deep learning, and natural language
processing [NLP]), organization size (large enterprises and Small and
Medium-sized Enterprises [SMEs]), verticals (manufacturing, healthcare and life
sciences, Banking, Financial Services, and Insurance [BFSI], retail, government
and defense, energy, telecommunication), and others (education, agriculture,
transportation and media and entertainment), and regions. The report also aims
at providing detailed information about the major factors, such as drivers,
restraints, opportunities, and challenges, influencing the growth of the
Artificial Intelligence as a service market.
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