by Angela Guess

A new press release reports, “Deep learning, a computing construct based loosely on the architecture of the human brain, has emerged as one of the most promising enabling technologies in the world of artificial intelligence (AI). Although many of the concepts underlying AI and technological biomimicry of human intelligence are over 50 years old, deep learning’s growth today is the result of a rather sudden convergence of three key trends: big, even colossal, data generation; advancements in hardware capabilities; and improvements in algorithms. According to a new report from Tractica, deep learning has been commercialized into more than 100 distinct use cases to date, touching virtually every industry.”

The release continues, “Tractica forecasts that deep learning software revenue will grow from $655 million in 2016 to $34.9 billion worldwide by 2025. The market intelligence firm anticipates that the top 10 use cases for deep learning, in terms of revenue, will be as follows: (1) Static image recognition, classification, and tagging; (2) Machine/vehicular object detection/identification/avoidance; (3) Patient data processing; (4) Algorithmic trading strategy performance improvement; (5) Converting paperwork into digital data; (6) Medical image analysis; (7) Localization and mapping; (8) Sentiment analysis; (9) Social media publishing and management; (10) Intelligent recruitment and HR systems.”

Principal analyst Jessica Groopman commented, “Businesses around the world are beginning to harness deep learning due to its ability to drive efficiencies in the form of speed, accuracy, agility, and access in several key areas… These areas include product development and improvement, process optimization and functional workflows, personalization and customer insight, sales optimization, and innovation and long-range strategy.”

Read more at Business Wire.

Photo credit: Tractica