Home General Corporates to Double their Use of Machine Learning by 2018

Corporates to Double their Use of Machine Learning by 2018

A new study recently revealed that this year, business machine learning is expected to double while the use of smartphones is anticipated to grow with sales hitting $1.85 billion a year by 2023.

Based on the information from Deloitte Global’s Technology, Media and Telecommunications Predictions, there is a likelihood that enterprises will double their application of machine learning technology by the close of 2018 in an effort to boost productivity.

The report also revealed that the development of new semiconductor chips would boost the use of machine learning. In turn, this situation will not only allow applications to utilize less power but also become more capable, flexible and responsive.

Emmanuel Durou, Middle East-based Deloitte’s partner, and technology, media, and telecommunications leader said that governments in the GCC had been actively participated in facilitating the adoption of machine learning and artificial intelligence (AI).

As an example, he focused on the appointment of the UAE’s artificial intelligence minister coupled up with the ambitious goals revolving around cost reductions and GDP growth connected to machine learning.

The study by Deloitte Global also forecasted that events and live broadcast would generate more than $545B in direct revenue in 2018. Even though most consumers cannot attend events remotely or consume content on demand, live consumption is still flourishing. Live performances by digital channels have proven to be more profitable and productive.

Despite the continued prosperity of digital platforms or channels, the viewing of traditional TV by users aged between 18 and 24 years is expected to drop 5-15% each year, particularly in the United States, the UK, and Canada in both 2018 and 2019.

Nevertheless, the declining rate is synonymous to the drop that was experienced seven years back, which appears not to be getting any worse. The reason behind this situation is that many factors that distracted the youth from watching traditional TV including video piracy, social media and smartphones are getting to a saturation point.

The adoption of smartphones is another area of growth that was mentioned in the report. Over 90% of adults in developed nations are anticipated to own a smartphone by the close of 2023, with 85% of people aged between 55 and 75 years having such phones.

Furthermore, the study predicted that smartphone owners would use their phones to communicate on average 65 times in a day in 2023, which marks a 20% increment in 2018.

Deloitte Global also predicted that 45% of all adult smartphone users globally including 65% of those aged between 18 and 24 years would experience the concern of using their phones excessively to undertake certain activities. In turn, they will try to minimize their usage in 2018.

According to Durou, Middle East consumers have always demonstrated advanced usage patterns of mobile historically. Presently, 68 % of the people in Saudi Arabia utilize their phone, mostly in the first five minutes after getting up from the bed.

This figure is almost double that of users with the same habit globally. Deloitte Global also highlighted the possibility of more than a billion smartphone users creating AR content at least one time in 2018, with around 300 million accomplishing so monthly while tens of millions will be doing so weekly.

Source Forbes

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KC Cheung
KC Cheung has over 18 years experience in the technology industry including media, payments, and software and has a keen interest in artificial intelligence, machine learning, deep learning, neural networks and its applications in business. Over the years he has worked with some of the leading technology companies, building and growing dynamic teams in a fast moving international environment.
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