Global AI Market to Attain Value worth $380 Billion by 2025, Says Huawei

AI Market

According to a Huawei official, the global Artificial Intelligence AI market is likely to reach value worth $380 billion by 2050, with 90% of the share contributed by enterprise market. It is natural that industry applications will be key to the substantial development of AI in the next decade, said William Xu, the company’s Chief Strategy Marketing Officer and Director of Board.

During the three-day long annual ‘Huawei Connect 2018’, Xu said that Huawei is planning to support a million AI developers and partners over the coming three years. On the opening day of the event, Eric Xu, rotating chairman of Huawei unveiled the company’s AI strategy and all scenario AI portfolio including new series of AI chips, cloud services, and other products.

Elaborating the company’s AI strategies, William Xu said that industries and their organizations must work together for the industry to go digital effectively; this has led to the establishment of an innovative platform that brings together industry organizations from across the world.

With an objective to help industries go digital at quicker pace, Huawei’s newly established platform will facilitate collaboration and communication between the organizations. William explained that Huawei’s vision and mission is help build fully connected, intelligent world by bringing digital to every person, home, and organization.

Huawei plans to accelerate the arrival of intelligent world by creating synergy between various platforms, artificial intelligence, and the ecosystem. Relying on one’s actions and accentuating the use of power of technology, industry insight will lead to the development of AI market, said William. Human experience and expertise are invaluable and they should be translated into AI skills, he added.

The company incorporates AI in wide range of products and solution, even in airports. Following the adoption of AI and modernized infrastructure, the Shenzhen Bao’an International Airport with over 120,000 passengers travelling through every day, no longer requires to use Gantt charts for manual arrangement of flight schedules.

The new Huawei’s AI portfolio will deploy a full range of scenarios including powerful AI chips for both private and public clouds, edge computing, and powering devices such as PCs, cameras, smartphones, and Bluetooth headphones. William Xu said that this will be the only AI portfolio in the industry that cover all scenarios and exclusive computing power.

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Ganesh Rajput

Ganesh Rajput

Ganesh’s extensive experienced in the field of market research reflects in the way his articles offer readers sharp insights on the latest developments across major industry verticals. His forte lies in churning out analytical commentaries on the evolving nature of various consumer-oriented industries.

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