The era of artificial intelligence (AI) is officially here. The AI market is expected to grow from $21.46 billion in 2018 to $190.61 billion by 2025, at a CAGR of 36.62% between 2018 and 2025, according to a recent report. AI's phenomenal growth across different industries is being fueled by unprecedented computing power, ever-increasing amounts of data—billions of gigabytes every day—and sophisticated deep-learning algorithms.
According to the AI Index report, the number of active U.S. startups developing AI systems has increased 14 times whereas the annual VC investment into such startups has increased only 6 times since 2000. Moreover, the share of jobs requiring AI skills in the U.S. has grown 4.5 times since 2013.
The projections for the AI market justify this enthusiasm.
NVIDIA believes, “AI will spur a wave of social progress unmatched since the industrial revolution.” Here’s a look at some of the projects where NVIDIA (NVDA) is applying AI.
AI empowers vehicles to see, think, learn, recognize and navigate. NVIDIA is at the forefront of AI-supported, autonomous vehicles that can revolutionize the $10 trillion transportation industry. NVIDIA DRIVE is a scalable platform, already adopted by more than 320 companies ranging from automakers to truck makers, suppliers, startups and research organizations.
DRIVE architecture allows NVIDIA’s associate companies to build and deploy self-driving cars, trucks and shuttles as per their configuration requirement; NVIDIA offers four high performance AI processors capable of delivering 320 trillion deep learning operations per second that enable Level 5 autonomous driving.
Their roster of self-driving customers is extensive, with brands such as Audi, Mercedes Benz, Toyota, Tesla, Volvo, and Bosch. During 2018, NVIDIA was joined by Uber, Volkswagen and Chery, one of China’s leading automakers.
Uber has been working on self-driving technology since 2015 and has successfully logged over 2 million autonomous miles; the ridesharing company choose NVIDIA AI computing system for its fleet of self-driving vehicles.
Chery will become the first Chinese automaker to adopt ZF ProAI System (developed by Baidu, ZF and NVIDIA) to bring Level 3 autonomous driving to China through its vehicles.
Volkswagen will use DRIVE IX technology to create “Intelligent Co-Pilot” applications to shape the development of a new generation of intelligent. Volkswagen has big plans for e-mobility and autonomous driving and will be investing more than €34 billion in these technologies by 2022.
NVIDIA and FANUC Corporation have been working together since October 2016 to increase robotics productivity and bring enhanced capabilities to automated factories worldwide. Two of its offerings include NVIDIA Jetson Platform and Isaac robot simulator; during GPU Technology Conference in 2017, more than 50 companies showcased robotics capabilities (such as elder support, search and rescue related tasks and industrial automation of tedious tasks) enabled by NVIDIA’s Jetson platform.
The International Federation of Robotics predicts the deployment of industrial robots will increase to around 3.05 million units worldwide by 2020, up from 1.82 million units at the end of 2016. Going forward, these robots will be central to the global maturing process, be it cars or mobiles. The industrial robotics market is expected to be worth $71.72 billion by 2023.
Construction & Mining
There are efforts underway to enable AI to reduce safety risk (due to heavy equipment, rough terrain and exhaustive hours) and improve efficiency in construction and mining industries. NVIDIA and Komatsu entered into an agreement in December 2017 to bring AI to these industries. Komatsu started with its ‘SMARTCONSTRUCTION’ initiative in 2015 to address the issues of safety and inefficiency. The initiative has been introduced in more than 4,000 sites and is primarily focused to create safe and smart “job sites of the future.”
According to the Japan Construction Occupational Safety and Health Association, sites in Japan recorded almost 300 deaths and more than 15,000 injuries in 2016. Introduction of AI will enable creation of 3D visualizations of construction sites and better monitoring of onsite equipment, thereby reducing mishaps. Additionally, AI can help resolve specific challenges of severe labor shortage due to an aging population in nations such as Japan.
AI and machine learning are fast contributing to the healthcare system by improving productivity and patient outcomes. Accenture estimates that key clinical healthcare health AI applications can potentially create $150 billion in annual savings for the U.S. healthcare economy by 2026.
NVIDIA has partnered with GE Healthcare and Nuance (NUAN) to use its deep learning platform to bring AI to medical imaging. This will provide a huge relief to doctors and patients; there is a further shortage of specialist doctors (such as radiologists and oncologists) despite the huge workload; such mismatches increase the chances of misdiagnosis and wrong treatment.
While GE Healthcare will bring NVIDIA’s AI computing platform to its 500,000 imaging devices globally, Nuance aims to bring machine learning to radiologists and data scientists across the entire healthcare system.
There is great scope for AI to reduce costs while enhancing speed, precision and quality of outcomes in healthcare. The AI health market is expected to reach $6.6 billion by 2021, according to Accenture.
The applications based on AI are already visible in healthcare diagnostics, targeted treatment, transportation, public safety, and industrial robots; the future of AI-based technologies seems bright as the benefits it brings seem to outweigh the perceived risks. Having said that, companies like NVIDIA have begun to position themselves to ride high on the AI wave which will transform the way we communicate, work, and conduct our daily lives.