AI and Machine Learning as a Service will disrupt Healthcare
Relatively few healthcare organizations have the resources or analytics maturity to develop their own intricate big data analytics infrastructure from scratch, but a growing number of vendors are starting to make the daunting and costly process easier by offering artificial intelligence and machine learning as a service (MLaaS).
With a potential global compound annual growth rate of 38.40 percent, the machine learning as a service market is likely to be worth close to $20 billion by 2025, says Transparency Market Research, as stakeholders across multiple industries try to integrate cutting edge analytics capabilities into their platforms and services.
Coupled with an artificial intelligence sector slated to bring more than $46 billion in revenue to vendors by 2020, MLaaS could fundamentally revolutionize the way healthcare organizations approach big data analytics by making these tools more budget-friendly for a broader range of organizations.
"Intelligent applications based on cognitive computing, artificial intelligence, and deep learning are the next wave of technology transforming how consumers and enterprises work, learn, and play," says David Schubmehl, research director, cognitive systems and content analytics at IDC, which compiled the AI report.
"These applications are being developed and implemented on cognitive/AI software platforms that offer the tools and capabilities to provide predictions, recommendations, and intelligent assistance through the use of cognitive systems, machine learning, and artificial intelligence.
"We're in a golden age of machine learning and AI," said Ralf Herbrich, Director of Machine Learning Science and Core Machine Learning at Amazon when the web giant announced the launch of the Partnership on Artificial Intelligence to Benefit People and Society.
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