The overall cloud market is $250b and growing at 32% annually. AI is still a relatively small part of this, comprising $202.5 million in 2015—but forecast to reach $11.1 billion by 2024. It’s important to remember that humans have been taking swings at AI for over 60 years, and other technological building blocks had to be arranged—each a milestone in its own right—in order to get us to where we are today, and where we’re poised to reach tomorrow. The amount of processing power and the speed of data throughput required for high-performance artificial intelligence place functional AI right in the Cloud’s wheelhouse.
Hyperscalers are positioned to be the creators of AI products; with AWS, IBM Cloud, Microsoft Azure, and Google Cloud as the top four. Service providers can leverage their deep relationships with existing cloud-service clients to provide bespoke AI solutions across the business spectrum. The economic effect is then amplified out into the world by orders of magnitude as costs drop, productivity rises, and data is processed more effectively to surface game-changing insights. Getting ahead of the curve on AI constitutes a prime opportunity to deliver maximum change for your customers.