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The rising number of AI applications to improve computing power and decrease hardware cost, the increasing number of large and complex datasets and the growing adoption of AI for improving consumer services are the major factors contributing to the growth of the artificial intelligence chip market size.
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Artificial Intelligence Chip Market
This report researches and evaluates the impact of COVID-19 outbreak on the market, including potential opportunities and challenges, drivers, and risks associated with the market. We present a detailed assessment of market growth based on numerous scenarios.
Market Overview The market report offers a detailed analysis of the market size, regional and country-level market size, segmentation, market growth, market share, competitive landscape, and the impact of domestic and global leading players.
Market Drivers The rising number of AI applications to improve computing power and decrease hardware cost, the increasing number of large and complex datasets and the growing adoption of AI for improving consumer services are the major factors contributing to the growth of the artificial intelligence chip market size. Various technology such as AI chatbot have cognitive abilities and are built to learn from their interaction with humans. These chatbots have the ability to handle queries from a large number of customers at any point of time without the need for a real human employee. Deploying AI technology in the business process helps in improving workflow efficiency, decreasing the need to outsource work, eliminating the need for hardware deployment, thus helping in reducing human resources. Hence, the rapid adoption of AI technology for customer service and to decrease the operational cost are the major factors that will boost the demand of the global artificial intelligence chip market.
The major components of AI are natural language processing, machine learning, and machine vision. These components offer a machine to human combination, improves efficiency, and decrease cost. Moreover, AI is used by businesses for brand management, software testing and development, customer service, human resource management, and fraud detection. Thus, the growing number of AI applications across various businesses is encouraging the adoption of AI chips. On the other hand, the lack of skilled AI professionals and the absence of protocols and standards are likely to restrain the growth of the global artificial intelligence chip market.
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