Artificial intelligence market poised to skyrocket in near future.(File Photo)

With the combination of technical breakthroughs, application domain development and supportive governmental policies, analysts believe that the artificial intelligence market could be worth hundreds of billions of dollars in the future. 

Total global investment in the field of artificial intelligence was more than 1.9 billion dollars in 2014, a growth of more than 50 percent from 2013. BBC forecasted that the market will continue its rapid growth. The global market size will reach 18.3 billion dollars (about 119 billion yuan) in 2020. 

As of now, there are more than 900 enterprises in the field of artificial intelligence, mainly in North America and Western Europe. Several technology giants such as Google, Facebook, Microsoft and IBM have already stepped into the field.

In addition, some domestic enterprises are following the trend. Baidu has come up with the "Baidu Brain," Alibaba launched the first domestic artificial intelligence platform, DTPAI, and Tencent created the robotic copywriter, Dream Writer. 

"With the technical support of big data, cloud computing and more, the booming development of artificial intelligence will revolutionize the way we work and live. We are optimistic about its excellent prospects, including biometrics, intelligent search, autopilot and more," said Qi Yanli, an analyst with Bohai Securities.

This article was edited and translated from 《人工智能大潮来袭 千亿市场规模可待》. Source: epaper.southcn.com