EqualOcean NY team is planning EqualOcean Monthly Webinar Program in 2022 with 12 different themes and the first one will be Industry Projections for the Metaverse in 2022 and Beyond, for which we invited Louis Rosenberg, CEO and Founder of Unanimous AI.
In the information age, data is treasured as it can help with customer tracking, company growth forecast, generate leads, and many more. However, data is useless without analytics. With the vast amount of data, utilizing the data is an insurmountable task without artificial intelligence. According to Forbes, recent research indicates that a combination of AI and big data can automate nearly 80% of all physical work, 70% of data processing work, and 64% of data collection work.
Primary Driving Forces Of The AI Market
The global artificial intelligence market was valued at USD 62.35 billion in 2020. The market is expected to grow at a CAGR of 40.2% from 2021 to 2028. The AI software revenue is projected to be at USD 62.5 billion in 2022, a year-on-year increase of 21.3% from 2021. Primary driving forces of the market's growth include increased adoption of AI, continuous innovation of tech companies, and the surge of AI applications.
AI adoption had already been on the rise thanks to the possibilities AI brings to a business. Covid-19 further accelerated companies' adoption rate. According to a study by PwC, 52% of companies accelerated their AI adoption plans due to the pandemic, and 86% said that AI is becoming a 'mainstream technology' at their companies.
Tech companies have yet to slow down on the research front of AI technologies. AI took the top spot in patent filings in 2020. With over 500 patent filings from top companies in AI, the industry is flourishing under continuous research and development.
AI has become an integral part of the information era. Businesses now can base their strategies on leveraging data through AI. As tech companies make AI more accessible than ever, AI is infused in finance, healthcare, transportation, urban planning, education, and more. For example, tech giant Alibaba developed a diagnostic algorithm to detect new Covid-19 cases using an AI model trained with over 5,000 positive coronavirus cases of sample data.
AI In Metaverse
AI is an integral part of the metaverse and the next chapter of the information age. The AI industry is rapidly growing as the metaverse market, which could potentially reach over USD 716.5 billion in 2027, expands. A large volume of data is generated in metaverse due to user activities. AI, therefore, plays an essential role in the metaverse by leveraging the data to perform multiple functions.
AIOps automate IT operations processes such as event correlation, anomaly detection, and predictive alerting through combining big data and machine learning. AIOps will be needed to manage the software infrastructure in the metaverse and provide insight into communications and other aspects of the metaverse. AI will process historical data and eventually perform tasks as well as humans do. NVIDIA is already training AI to create virtual worlds.
AI can also enhance the lifelogging and VR experience, which are crucial elements of the metaverse. Metaverse poses the challenge of safety. AI, however, can create an inclusive environment by preventing hate speech, monitoring content creation and content relevance calculation, and generally avoiding bias. In addition, AI improves users' immersive experience by creating digital humans, 3D representations of bots in the metaverse, and accurate avatar creation.
We are honored to present Louis Rosenberg, CEO and Founder of Unanimous AI, one of the speakers at EqualOcean's upcoming webinar Industry Projections for the Metaverse in 2022 and Beyond on January 27.
Unanimous AI focuses on amplifying the intelligence of networked groups to enable more accurate forecasts, assessments, decisions, evaluations, and insights. Using an AI algorithm based on the biological principle of Swarm Intelligence, Unanimous AI empowers business teams to maximize their combined wisdom and coverage on optimized solutions through the award-winning Swarm® platform.
If you want to learn more about the metaverse meeting, here is an extraordinary opportunity for you: EqualOcean NY team is planning EqualOcean Monthly Webinar Program in 2022 with 12 different themes. The first one will be Industry Projections for the Metaverse in 2022 and Beyond, for which we Invited Kevin Vincent, a VP of Global Business from Utopia VR, one of the metaverse meeting pioneers in Canada. The first event will be recorded and uploaded to different platforms, including YouTube, on January 28th, 2022 and be free for interested investors.
EqualOcean holds regular events on a wide variety of topics related to investment and technology. If you would like to be a part of our ecosystem, please reach out to us. Research & Content Lead: Fuller Wang - [email protected]/ Business inquiries: Chris Pereira - [email protected]
Article by Tommy Mi, EqualOcean, an investment research firm focusing on China.