“Alexa, when will artificial intelligence start to impact the way that we do business in noticeable ways?”
Alexa: It already has.
That’s the point being made by Abhinav Somani, Chief Revenue Officer, LEVERTON Corporation, in a new white paper for CoreNet Global.
Somani distiguishes between artificial intelligence as we commonly think of it, and subcategories including machine learning and deep learning. And deep learning is where things get interesting.
Deep learning, he says, is a class of machine learning algorithms programmed to imitate functions of the human brain, or “artificial neural networks,” with the aim of solving complex problems the way human brains do. Deep Learning is seen by many experts as our most realistic progress towards “true AI.”
And he said this:
“The relevant market for Deep Learning technologies is expected to grow dramatically even though it is still early days. A recently published research report estimates that by 2024 the total market for deep learning software, services, and hardware will exceed $100 billion in annual revenue. The software for enterprise applications of deep learning alone is expected to rise from $109 million in 2015 to $10.4 billion in annual revenue in 2024.”
Slowly but surely, deep learning technology is beginning to make an impact on corporate real estate (CRE).
For example, Somani tells of a deep learning AI software that accelerated the process of data extraction from lease documents.
As Somani said in the paper:
“So AI isn’t just for making our homes smarter or having our cars drive themselves or ordering a pizza by thinking about it. AI can generate significant time and cost savings in enterprises too. Structured data is an intangible asset, which is crucial for competitive advantage, precise reporting, and future forecasting and big data analytics. The question is – has your company figured out its AI strategy before your competitors?”
Uh, Alexa??