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AI in Industry

AI in Industry
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Copyright: 2021
Pages: 28
Source title: Understanding the Role of Artificial Intelligence and Its Future Social Impact
Source Author(s)/Editor(s): Salim Sheikh (Saïd Business School, University of Oxford, UK)
DOI: 10.4018/978-1-7998-4607-9.ch005

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Abstract

The past two years have seen a tremendous number of changes in the global AI landscape. There has been a stable balance with the US as the unquestioned leader in the global IT market for nearly the past 20 years and by extension the international AI industry as well, which has evolved from the data science and big data analysis sector to become the engine of the 4th industrial revolution, global economic growth, and social progress that it is today. However, when it comes to AI spending, the US is outgunned by China whose government is investing $150 billion to support its goal to become the undisputed global leader in the AI race by 2030. This chapter will offer a broad overview of the UK AI industry and share insights on its present state, near-future, and what can be done in order to optimise the industry's trajectory over the course of the next several years and to maximise the UK's potential to become a global AI leader by 2020. It is not intended to be an exhaustive study and instead demonstrates the forces at work and possible areas for future research.

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