As the scope of artificial intelligence expands, large tech companies are investing heavily in the research and development of AI solutions. These organisations are competing for AI supremacy. We will look at the Top 5 companies with the highest market share in the field of artificial intelligence.
Amazon Web Services (AWS)
Amazon’s exponential growth never stops. Amazon’s market revenue for the year 2019 was $2,130 million, with a market share of 7.1 percent. The company’s cloud service remains the most popular cloud service, accounting for 35% of the company’s revenue. AWS assists customers in the development of a cloud platform with increased flexibility, scalability, and reliability, as well as advanced computing power, database storage, and content delivery.
In 2019, Google has a market revenue of $2,450 million and a market share of 8.2 percent. The company has evolved from a mobile-tech behemoth to an AI-tech behemoth. It provides customer experience by incorporating AI technology into almost all of its applications, including Google Maps, YouTube, Google Search Engines, and Google Photos. The company uses technology such as Google Cloud and Deep Learning to store user data and analyse user habits, particularly when recommending videos. Deepmind, a Google-acquired AI company founded in 2010, is leveraging machine learning to bring new ideas in the fields of healthcare, mathematics, and computing infrastructure.
IBM
In 2019, IBM led the artificial intelligence market with a market revenue of $3,070 million and a market share of 10.3 percent. IBM Watson, its AI technology, is used in all industries. IBM Watson is a data analytics processor that uses natural language processing to analyse human speech and understand its meaning and syntax. Its data analytics capabilities enable it to process large amounts of data, human speech, and answer questions that were previously impossible. IBM Watson provides insightful results to users by using its machine learning capabilities to process new data that is entered into the repository.
Microsoft
Microsoft’s contribution is equated in both the evaluation of computers and that of Artificial Intelligence, from making a series of Windows processors for computers to heavily investing in AI research and development. For the fiscal year 2019, Microsoft’s market revenue was $2,279, with a market share of 7.6 percent.
Microsoft Cortana uses natural language processing to communicate with users, and Microsoft Bing recognises images using image recognition techniques. Microsoft Azure, the company’s cloud platform, deploys intelligent cloud services to customers for seamless operations. Microsoft 365, the company’s flagship product, uses data analytics to provide customers with actionable insights.
Facebook has evolved from a social networking site to an organisation whose primary focus is still artificial intelligence. For the fiscal year 2019, Facebook’s market revenue was $1,979 million, with a market share of 6.6 percent. It improves the user experience by leveraging AI technologies such as facial recognition, language translation, and machine learning algorithms, among others. It uses AI to prevent suicides by scanning posts and comments and identifying which ones indicate depression and sadness.
To provide breakthroughs in AI technology, the company’s research group Facebook AI Research (FAIR) is working in technologies such as conversational AI, Natural Language Processing, and Computer Vision.