The AI Software Platforms Market Is Forecast To Be The Strongest In AI Category With A Five-year CAGR Of 32.7%

This post was originally published on this site
[June 09, 2021]

PALM BEACH,  Fla., June 9, 2021 /PRNewswire/ — Artificial Intelligence has become ubiquitous across almost every aspect of most people’s everyday activities. In the last several years its impact, though unseen at times, has grown at an astounding rate, and will continue to do so in the coming years. A report from the International Data Corporation’s (IDC) Worldwide Semiannual Artificial Intelligence Tracker, says that Worldwide revenues for the AI market – including software, hardware, and services – are forecast to grow 16.4% year over year in 2021 to US$327.5 billion. It added that by 2024, the market is expected to break the US$500 billion mark with a five-year compound annual growth rate (CAGR) of 17.5% and total revenues reaching US$554.3 billion. An article in itnews ASIA, discussing the IDC report, said: “Of the three technology categories, software represented 88% of the total AI market revenues in 2020. However, it is the slowest growing category with a five-year CAGR of 17.3%. Within the AI software category, AI applications took the largest share of revenue at 50% in 2020.  In terms of growth, the AI Software Platforms market is forecast to be the strongest with a five-year CAGR of 32.7%. The slowest will be AI System Infrastructure Software with a five-year CAGR of 13.7% while accounting for roughly 35% of AI software revenues. Within the AI Applications market, AI ERM is expected to grow slightly stronger than AI CRM over the next five years.”  Active tech companies in the markets this week include Salesforce (NYSE: CRM),  Trend Innovations Holding Inc. (OTCPK: TREN), NVIDIA (NASDAQ: NVDA), Palantir Technologies (NYSE: PLTR), Twilio (NYSE: TWLO).

itnews ASIA continued: “The global pandemic has pushed AI to the top of the corporate agenda, empowering business resilience and relevance,” says Ritu Jyoti, program vice president for AI Research at IDC.  AI is becoming ubiquitous across all the functional areas of a business. Advancements in Machine Learning, Conversational AI, and Computer Vision AI are at the forefront of AI software innovations, architecting converged business and IT process optimizations, predictions and recommendations, and enabling transformative customer and employee experiences.  Though the pandemic interrupted the momentum of worldwide AI services market growth, enterprise demand for AI capabilities to support business resiliency and augment human productivity sustained double-digit expansion in 2020, even as other discretionary projects experienced delays,” said Jennifer Hamel, research manager, Analytics and Intelligent Automation Services.”

Trend Innovations Holding Inc. (OTCPK: TREN) BREAKING NEWS:  Trend Innovations Holding Inc. has decided to localize Thy News application Trend Innovations Holding Inc.  a company engaged in information technology based on AI, continues active developing of Thy News application and has decided to localize its interface.

Thy News is a news aggregator that allows users to follow news from around the world through a variety of sources. Every time, thanks to real-time updates, users receive only the latest news from the sources of their interest.

The development team believes localization is necessary to ensure a good interaction experience for the app in international markets.  Users’ geography and languages were analyzed; thus, the most demanded languages were selected for implementation, namely: English (the base language of the application), German, French, Spanish, Russian.

By default, Thy News will be in English, but users will be able to change the settings and independently select the application interface language from the list.

Localization can significantly increase the value of Thy News for its users, thereby increasing the rate of acquisition of new users and retention of existing ones.  The release of the application with this update is scheduled for the end of July.  Read this and more news for Trend Innvations Holding at:  https://trendinnovationsholding.com/news/

In other market news of interest:

NVIDIA  (NASDAQ: NVDA) recently unveiled NVIDIA Base Command Platform, a cloud-hosted development hub that lets enterprises quickly move their AI projects from prototypes to production. The software is designed for large-scale, multi-user and multi-team AI development workflows hosted either on premises or in the cloud. It enables numerous researchers and data scientists to simultaneously work on accelerated computing resources, helping enterprises maximize the productivity of both their expert developers and their valuable AI infrastructure.

Base Command Platform is available now through a premium monthly subscription jointly offered by NVIDIA and NetApp. The Base Command Platform with NetApp solution includes access to the record-breaking performance of NVIDIA DGX SuperPOD™ AI supercomputers and NetApp data management.  Google Cloud plans to add support for Base Command Platform in its marketplace to deliver a true hybrid AI experience for customers later this year.

Palantir Technologies (NYSE: PLTR) recently announced it had been selected by the United States Special Operations Command (USSOCOM) to continue its work as their enterprise data management and AI-enabled mission command platform as part of the Mission Command System/Common Operational Picture program. The contract is valued at a total of $111 million, inclusive of options, with $52.5 million executed upon award. The total contract includes a base year and one option year.

Palantir’s platform has been used by USSOCOM in real-time mission operations to interoperate with other components of the global situational awareness architecture since 2016. Palantir’s software is designed to aggregate disparate and siloed data sources to enable the best possible data-driven decision-making, making Palantir uniquely suited to provide a platform to support unity of effort and enhance high impact decision-making across warfighting functions.

Salesforce Connections — Salesforce, [NYSE: CRM], the global leader in CRM, recently announced new innovations across Digital 360, helping companies go digital faster and deliver the next generation of marketing, commerce and digital experiences.

As consumers continue to push the limits of what it means to be digital first — from buying cars and groceries online to applying for mortgages on their phones — businesses’ marketing budget is following suit, with online sales reaching over $4 trillion  and digital expected to hit half of all global ad spend this year.  Salesforce is helping companies stay ahead of these shifts, powering an average of more than 100 billion Einstein predictions, sending 682 billion emails and delivering a daily average of three million commerce transactions in 2020.

Twilio (NYSE: TWLO), the leading cloud communications platform, recently announced that it has entered into a definitive agreement to acquire Zipwhip for approximately $850 million in an equal blend of cash and stock. The transaction is expected to close by the end of 2021.

“Messaging is becoming a preferred way for consumers to engage with brands, therefore it’s critical to provide multiple messaging options,” said Simon Khalaf, SVP and general manager of the Twilio Communications Platform. “By bringing together the world’s leading cloud communications platform and a trusted partner in the messaging ecosystem, we have the ability to deliver more secure, high-quality toll-free traffic at scale. We are thrilled to welcome Zipwhip to the Twilio team as we continue our journey to become the world’s leading customer engagement platform trusted by developers and companies globally.”

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