“Cloud will drive more full-scale AI implementation, better return on investment (ROI) from AI and higher AI spending. Importantly, we’ll see the democratization of AI capabilities – and benefits – that had heretofore been the preserve only of adopters,” Deloitte states in the report.
Due to the requirement of outlandish investments, big expert teams and massive infrastructure, artificial intelligence has so far been restricted to a few “tech giants,” including Google (GOOGL), Amazon (AMZN) and Alibaba (BABA). These companies, in turn, use this technology to make their operations more efficient.
Meanwhile, the drive in AI demand is also pushing them to develop AI development platforms for wider market application. Enterprise software firms such as Salesforce (CRM) and SAP (SAP) are making use of these platforms to integrate AI capabilities with cloud-based software for the mass market.
A slew of startups is also in the race to make cloud-based AI applications, the use of which could range anywhere from cybersecurity to drug discovery.
In short, unlike in the past, AI is fast becoming a technology that is coming within the reach of the mass market. The launch of 5G technology, expected sometime next year, will speed up the implementation of AI applications by giving faster internet connectivity. Deloitte predicts that in 2019, AI will become a tool for small companies to leapfrog ahead of its rivals.