The Global Autonomous AI and Autonomous Agents Market size is expected to reach $51.2 billion by 2030, rising at a market growth of 40.7% CAGR during
Reportlinker.com has recently published a report titled "Global Autonomous AI and Autonomous Agents Market Size, Share & Industry Trends Analysis Report By Vertical, By Technology, By Offering, By Software Deployment Type, By Regional Outlook and Forecast, 2023 - 2030". According to the report, the BFSI segment generated a revenue of $821.2 million in 2022. These advanced technologies offer unmatched opportunities for automation, improved decision-making, and enhanced customer service. In the BFSI industry, autonomous AI systems utilize machine learning algorithms to analyze massive amounts of financial data, identify patterns, and autonomously determine fraud detection, risk management, and investment strategies.
Market players are adopting partnerships as their primary strategy to meet the evolving needs of customers. SAP SE and IBM Corporation collaborated in May 2023, integrating IBM's Watson AI engine into SAP's range of solutions including SAP Business One, S/4 HANA Cloud, SAP S/4 HANA, and SAP Business ByDesign. Additionally, NVIDIA Corporation partnered with ServiceNow, Inc. in the same month, developing advanced generative AI capabilities to enhance business processes through faster and smarter workflow automation.
According to the analysis shown in the KBV Cardinal matrix, Microsoft Corporation and Google LLC (Alphabet Inc.) are the leading companies in the market. In February 2023, Microsoft Corporation strengthened its partnership with OpenAI to independently promote advanced AI technology in AI supercomputing and research. Oracle Corporation, NVIDIA Corporation, and Salesforce, Inc. are some of the important companies driving innovation in the market.
The increasing use of AI in different fields is driving the progress of independent AI and agents. AI is utilized to tackle complex issues and enhance processes across various industries like healthcare, transportation, finance, and manufacturing. As the need for effective and smart solutions grows, the demand for autonomous AI systems and agents that can adapt and work independently without constant human input is becoming more crucial. In view of this, it is accurate to state that the rising adoption of AI is expected to drive market growth.
Utilizing self-governing artificial intelligence and individuals specialized in particular tasks to enhance the quality of healthcare services.
Autonomous AI finds its best use in various areas like administrative processes, image examination, surgical operations, AI assistants, and aiding clinical decisions. This advanced technology can assist healthcare experts in accurately diagnosing patients by analyzing a vast array of medical information, such as previous records, tests, and imaging. Consequently, it replaces the demanding and specialized work previously done by eye specialists, resulting in a rapid surge in its demand in the market.
Major Challenges for Market Due to Ethical and Legal Considerations
As autonomous AI systems and agents become more advanced and prevalent, a multitude of moral dilemmas arise. The prospect of accidents or harm caused by self-governing robots or vehicles is a major concern. Defining responsibility in an accident involving autonomous agents can be challenging due to the complex relationship between the machine's choices, the manufacturer's design, and human involvement. Furthermore, a vast number of autonomous agents are powered by AI algorithms, which can inadvertently adopt biases from the data they were trained on. Consequently, decisions may be made that unfairly prejudice certain groups. These ethical and legal quandaries related to self-governing agents could hinder the expansion of the market.
Based on the vertical classification, the market can be divided into various categories including banking, financial services and insurance (BFSI), healthcare and life sciences, information technology and telecommunications (IT & telecom), retail and electronic commerce (e-commerce), media and entertainment, energy and power, automotive, transportation and logistics, government and defense, manufacturing, and others. In the year 2022, the retail and e-commerce sector accounted for a significant portion of the market's revenue. The growth of self-operating shopping is attributed to autonomous artificial intelligence. The concept of convenient "grab-and-go" businesses, where customers make payments through their smartphones, is rapidly gaining popularity. Innovations like nanostores, smart cabinets, and fully automated stores are some of the emerging strategies in this field.
The market is divided into different areas of technology including machine learning, natural language processing, context awareness, and computer vision. In 2022, the computer vision segment saw a significant portion of the market's revenue. Computer vision is a crucial technology for autonomous AI and autonomous agents as it enables them to understand and interpret visual information from their environment. Computer vision algorithms have the ability to analyze images and videos, detect objects, identify patterns, and extract meaningful characteristics.
The market is divided into three categories: hardware, services, and software. Within the hardware market, there is expected to be a growth rate of 40.9% from 2023 to 2030. Services play a crucial role in the successful implementation and operation of autonomous AI and agent systems. These services encompass consulting, implementation and integration, training, support and maintenance. Service providers aim to offer additional value to organizations, enabling them to make the most of their AI systems. These services are tailored to meet the specific needs of organizations, encouraging collaboration, knowledge sharing, and ongoing assistance to maximize the benefits gained from autonomous AI and agent technologies.
In terms of software classification, the market is divided into two categories: computational agents and robotic agents. In the year 2022, the computational agents sector observed the highest portion of revenue in the market. Computational agents exclusively operate in digital settings and are driven by sophisticated algorithms and computational capabilities. These agents employ machine learning and artificial intelligence to analyze massive amounts of data, predict results, streamline operations, and independently make decisions.
In the realm of software implementation, there are two categories: on-premise and cloud. Last year, the cloud category took the lead in terms of generating the most revenue. When it comes to deploying autonomous AI and agents, organizations can take advantage of the cloud deployment option by hosting them on remote servers provided by cloud service providers. This deployment approach offers a multitude of advantages to companies aiming to harness the power of AI and agents.
When it comes to geographical breakdown, the market is examined in North America, Europe, Asia-Pacific, and LAMEA. In the year 2022, North America stood out as the leading region in terms of revenue generation. Within North America, the United States and Canada are the two countries leading the way in the advancement and implementation of autonomous AI and autonomous agents. This region boasts a significant presence of technology firms, research establishments, and innovative startups in the field of artificial intelligence. North America is utilizing autonomous AI across diverse sectors such as transportation, healthcare, banking, manufacturing, and entertainment.
The market study report examines the important participants in the market. Some notable companies featured in the report are IBM Corporation, Microsoft Corporation, Oracle Corporation, Google LLC (Alphabet Inc.), Salesforce, Inc., SAP SE, NVIDIA Corporation, Baidu, Inc., Uber Technologies, Inc., and Cogito Tech LLC.
Latest Approaches Implemented in Self-governing AI and Independent Entities Industry
Partnerships, Collaborative Efforts & Arrangements:
In June 2023, Salesforce, Inc. unveiled AI Cloud, a fresh offering collection crafted to deliver AI solutions suitable for businesses. This introduction aims to enhance the company's standing in the fiercely competitive AI industry and encompasses a range of tools developed specifically to offer AI capabilities suitable for enterprises.
In May 2023, IBM made an exciting announcement about the introduction of the Watsonx Platform. This innovative platform aims to offer foundation models and generative AI to users. The newly launched product includes a data store, governance toolkit, and studio. Additionally, IBM plans to combine Watson products with generative AI and foundation models to create offerings in the areas of digital labor, sustainability, AIOps, and security.
In May 2023, Oracle Corporation unveils a brand new Oracle Autonomous Data Warehouse. This cutting-edge autonomous database is powered by advanced machine learning technology and specifically designed for handling analytics tasks. This revolutionary product takes a step forward from the traditional data lakes and warehouses by introducing an exclusive and specialized approach.
In April 2023, Oracle Corporation improved the range of Oracle Fusion Cloud Applications to better assist customers in speeding up distribution planning, maximizing how efficiently they operate, and improving the accuracy of their financial data. This upgraded range will include features for effectively managing rebates, new planning tools, and pricing based on usage across Oracle Fusion SCM, as well as enhancements to the quote-to-cash processes within Oracle Fusion Applications.
March 2023 marked the introduction of Einstein GPT, a cutting-edge generative AI initiative by Salesforce, Inc. This pilot technology includes features akin to ChatGPT. The objective of this launch is to foster a plethora of innovative prospects within their product suite, as well as in the wider ecosystem and suite at large.
March 2023: Baidu, Inc. unveiled the introduction of Ernie Bot, an artificial intelligence chatbot. This newly released creation can be utilized in various areas such as AI cloud, searches, self-driving vehicles, and intelligent gadgets.
July 2022 saw the unveiling of Project AirSim by Microsoft Corporation, an all-inclusive system aimed at enhancing self-piloted flights. This newly launched innovation utilizes a realistic simulation to securely develop, instruct, and experiment with independent aircrafts on the Microsoft Azure platform.
July 2022 saw the unveiling of Apollo RT6, a cutting-edge electric self-driving car by Baidu, Inc. This release marks a significant milestone in the automotive industry, as it attains Level 4 out of the five achievable levels of technological advancement in autonomous driving.
In September 2021, Oracle introduced the latest version of their high-speed and affordable systems for operating the Oracle Database, called Oracle Exadata X9M platforms. This new generation includes Exadata Cloud@Customer X9M and Oracle Exadata Database Machine X9M, which are the exclusive platforms capable of running Oracle Autonomous Database within customer data centers.
In June 2021, Salesforce, Inc. introduced Einstein Relationship Insights, a revolutionary AI-driven investigative tool. This newly released product aims to independently examine online information to identify connections between businesses, potential clients, and customers, thereby assisting sales representatives in swiftly finalizing deals. Notably, Einstein Relationship Insights also operates as a virtual assistant for salespeople on various platforms, such as social media, email, web searches, and other internet sources. Its primary function is to unveil and recommend relevant companies and individuals for improved sales outcomes.
New Releases and Expanding Product Lines
In May 2023, SAP SE and IBM Corporation, a technology giant based in the United States, formed a collaborative venture. This partnership aimed to integrate IBM's advanced Watson AI engine into SAP's wide range of solutions, which includes SAP Business One, S/4 HANA Cloud, SAP S/4 HANA, and SAP Business ByDesign.
In May 2023, NVIDIA Corporation and ServiceNow, Inc., a software company based in the United States, joined forces. This collaboration aims to develop robust and cutting-edge generative artificial intelligence (AI) abilities that possess the potential to revolutionize business operations by automating workflows with remarkable speed and exceptional intelligence.
In May 2023, NVIDIA Corporation partnered with WPP, plc, a multinational company focused on advertising, communications, public relations, and technology. Through this partnership, the two companies will develop a content engine that harnesses the power of NVIDIA Omniverse and artificial intelligence (AI). This engine will enable creative teams to produce high-quality commercial content faster and more efficiently, while ensuring it remains in line with the brand of their clients.
In March 2023, Google Cloud, a company owned by Google LLC, joined forces with Oxbotica, a developer of software for self-driving vehicles. This partnership aims to make it easier for companies around the globe to implement autonomous software systems. By combining Oxbotica's top-notch autonomous vehicle software with Google Cloud's expertise in cloud infrastructure, they will work together to create dependable and expandable solutions for businesses that rely on transportation throughout their operations.
In March 2023, NVIDIA Corporation and Adobe Inc., a large computer software company from the United States, joined forces. The collaboration aimed to work together in developing advanced AI models. Additionally, they planned to integrate NVIDIA Omniverse, a platform used for creating and running 3D industrial metaverse applications, with Microsoft 365 tools like Teams, OneDrive, and SharePoint. This integration would enable the connection between 3D collaboration platforms and productivity applications.
March 2023: NVIDIA Corporation joined forces with Amazon Web Services, Inc., a division of Amazon.com, Inc. The objective of this partnership is to develop a highly scalable and readily available AI infrastructure designed specifically for training increasingly intricate large language models (LLMs) and generating AI applications.
February 2023 witnessed the expansion of the collaboration between Microsoft Corporation and OpenAI, an esteemed research laboratory specializing in artificial intelligence. This extended partnership aims to enhance their existing collaboration and provide both entities with the opportunity to independently promote cutting-edge AI technology in the realms of supercomputing and research.
In October 2022, Microsoft Corporation joined forces with TCS, a renowned Indian IT consulting and services company. This partnership aimed to leverage Project Bonsai, a cutting-edge AI platform that is both user-friendly and meets strict security and compliance standards. Together, the companies aimed to develop advanced AI-driven autonomous solutions on the Microsoft Azure Cloud by harnessing Microsoft's extensive knowledge in industrial control systems.
In October 2022, Google Cloud and Accenture, a company that offers IT services and consulting, strengthened their collaboration. Their goal is to work together to create innovative solutions by harnessing the power of data and artificial intelligence (AI). This partnership will also empower clients to establish a solid foundation and transform their businesses using cloud technology.
In September 2022, Uber Technologies, Inc. joined forces with Nuro, an innovative self-driving vehicle company. The goal of this collaboration was to make use of Nuro's electric and self-driving vehicles to carry out food deliveries all over the United States. Furthermore, this partnership would highlight the rapidly expanding opportunity for autonomous last-mile delivery of various products, such as groceries and meals, and make autonomous delivery technology available to Uber Eats and all types of restaurants and merchants.
In September 2021, Oracle formed a collaboration with Adenza, a well-known international company that specializes in comprehensive trading, treasury, risk management, and regulatory compliance solutions. As part of this partnership, Adenza will utilize Oracle's Autonomous Transaction Processing and Autonomous Data Warehouse to enhance their product line, RegCloud, which focuses on regulatory reporting. This collaboration will involve the integration of Oracle Autonomous Database on OCI (Oracle Cloud Infrastructure) with Adenza's AxiomSL RegCloud SaaS portfolio. This integration will provide added flexibility to customers who either have an on-premises installation of Oracle Database or have opted for Oracle Database for cloud services.
July 2021 saw a partnership between Baidu, Inc. and the University of Maryland, College Park, a publicly-funded research university. Their joint effort aimed to introduce a groundbreaking standard for robotics. Additionally, they planned to develop an independent excavator system that promises exceptional performance.
In June 2021, Deutsche Bank, a global financial services organization, joined forces with Oracle in a long-term alliance. With this partnership, Oracle aims to enhance the technology behind databases and accelerate Deutsche Bank's digital evolution. Additionally, both companies will collaborate to discover innovative ways to utilize data security technologies, analytics, artificial intelligence, and blockchain in order to revamp financial products and services.
In June 2021, IBM revealed the completion of its purchase of Turbonomic, Inc., a software company specializing in Application Resource Management (ARM) and Network Performance Management (NPM). Turbonomic is located in Boston, MA. With Turbonomic now included in our collection, IBM is the sole provider offering a comprehensive range of AI-driven automation abilities, all developed on Red Hat OpenShift, enabling them to be utilized in any setting.
Subject of the Study
Segments of the market discussed in the report:
• Medical and Biological Sciences
• Information Technology and Telecommunications
• Stores and online shopping
- Communication and Amusement
• Vitality & Strength
• Auto industry, movement of goods and services, and the organization of shipping and storage
• Governance & National Security
• Enhancing computers' ability to understand human language • Analyzing and processing human language using computational methods • Empowering computers to interpret and derive meaning from written and spoken human communication • Advancing technology to enable computers to comprehend and respond to human language patterns • Unleashing the potential of computer algorithms to comprehend and generate language in a natural manner • Equipping computers with the capability to decipher and interact with human language effectively • Developing algorithms that allow computers to understand and generate human-like speech and text
o The remaining part of the North American continent
o Other European countries
o Other parts of the Asia Pacific region
The remaining part of the LAMEA region
Google is a company that is a part of Alphabet Inc.
Uber Technologies, also known as Uber, is a company that provides transportation services through their mobile application.
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