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Artificial Intelligence

Artificial Intelligence as a Service Market Size USD 92 Bn by 2030

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Ottawa, July 20, 2022 (GLOBE NEWSWIRE) — The global artificial intelligence as a service market size was accounted at USD 4.7 billion in 2021. The use of artificial intelligence in the form of service is expected to have a good growth in the coming years. There’s been an increase in the number of various startups that are entering the market the market is expected to grow well during the forecast period.

Due to an increase in the investments for the research and development purposes which Major League come from the key market players will lead to the growth of the artificial intelligence market. The lack of human labor and restrictions on movement along with the lockdowns across many nations the market was affected to a large extent during the pandemic. This market is expected to flourish do 20 increased use of artificial intelligence as a service.

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Report highlights

  • Depending upon the end user industry that makes use of artificial intelligence the banking and financial sector then when this expected to have a dominant position in the market during the forecast period. In order to provide the best experience to its consumers and to enhance its operational activities there is a growing demand for the use of artificial intelligence technology in this segment. Use of artificial intelligence in managing the finance sector also helps in providing with real time data and better predictions.
  • Depending upon the size of the organization the large enterprises segment will dominate the market during the forecast period due to an increased adoption of artificial intelligence for services in the large enterprises. There has been an increased use of AI for educational purposes. Increased popularity of machine learning will drive the market growth in the coming years.
  • Emerging nations like Taiwan as well as India or investing a lot of money in developing the infrastructure required for the artificial intelligence-based services. In the future there shall be an increased use of artificial intelligence in many other industries. It shall also be applied in the retail shopping segments.

Recent Developments

  • Looker with acquired by Google in the year 2020, in order to improve the cloud offerings. Google acquired the organization for U.S. dollar 2.6 billion.

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Regional snapshots

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The North American region is expected to dominate the market during the forecast period. North American region has previously adopted many advanced technologies and played a pivotal role in the growth of various technologies. This region had adopted the artificial intelligence market earlier as compared to any other region. The use of artificial intelligence in the service market has provided a large amount of revenue to this region. The availability of advanced infrastructure and the presence of trained personnels in this region we will drive the market growth.

The network technologies available in the North American region out of the advanced type be here apart from the developed nations the developing nations of the Asia Pacific region will also show a good growth. Countries like India Japan and Shiner shall have a larger demand for artificial intelligence in the service sector. These nations are increasing the amount invested for developing various technologies which will be helpful in providing automation to various industries.

Scope of the Report

Report Attributes Details
Market Size in 2021 USD 4.7 Billion
Revenue Forecast by 2030 USD 92 Billion
CAGR 39.16% from 2022 to 2030
Largest Market North America
Fastest Growing Region Asia Pacific
Base Year 2021
Forecast Year 2022 to 2030
Key Players Amazon.Com, Apple Inc., Alphabet Inc. (Google LLC), CognitiveScale, Inc., Intel Co., Microsoft Co., Fair Isaac Co., International Business Management Co., Salesforce, SAP SE

Market dynamics

Drivers

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In the recent years Randy investments have been made for the research and development purposes by the major market players. Due to the advancements in the field the market is expected to grow well. Due to growth in the digital transformation and increased adoption of artificial intelligence in various sectors like banking and insurance the market will grow well during the forecast period.

The use of artificial intelligence combined with the data analytics has provided an upper hand for the functioning of the financial institutes. This combination has provided better insights for the functioning of the organization. It helps in tracking any money laundering activities or fraud. The use of artificial intelligence services which make use of the cloud shall be helpful in making digital payments and accessing the financial services. During the pandemic there has been an increase in the use of the digital platform for accessing various services and this is expected to grow during the forecast. As it happens to be a comfortable and easy option. The use of artificial intelligence in many industries has reduced the amount of cost incurred in performing many functions. Constant innovations in this field will drive the market growth period

Restraints

Some of the important factors that restraining the growth of the market are the unavailability of expert people and the initial cost which happens to be high. The regulatory framework which guides the use of artificial intelligence in the service market it’s tedious and it shall hinder the growth of the market during the forecast period.

Opportunities

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The presence of different vendors that provide services at varied prices help in choosing an affordable option. There is an increase in the number of startups entering the market. There has been an increased popularity of the use of artificial intelligence in the service industry. Due to the use of artificial intelligence for services there has been no group in the market of artificial intelligence. The availability of various options to choose from will be helpful in boosting healthy competition and providing affordable options to the consumers.

Many companies are aiming in increasing the amount of profits earned by them by the use of artificial intelligence as a service. Is there has been no group in the demand for the intelligence services that are cloud based the market for artificial intelligence as a service as expected to grow. Government of the developing nations are promoting the use of artificial intelligence and they are also focusing on providing better infrastructure for its development.

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Challenges

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Data privacy issues happens to be a major challenge in the growth of the market. In order to have a better insight into the planning and the optimization of future prospects a large amount of data is used and collected. The availability of the sensitive data my name ensuring the privacy of this data becomes a major challenge for the companies.

Market Segmentation

By Technology

  • Machine learning (ML)
  • Computer Vision
  • Natural Language Processing (NLP)

By Organization Size

  • Large Enterprise
  • Small & Medium Enterprise

By Vertical

  • BFSI
  • Public Sector
  • Energy & Utility
  • IT & Telecom
  • Retail
  • Manufacturing
  • Healthcare

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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Artificial Intelligence

New Electric Mountain Bike Player Amflow Enters Market, unveiling its Revolutionary First Bike powered by DJI Avinox at Eurobike 2024

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Passionate Bikers and Tech Experts unite to combine a powerful and compact e-bike system into an ultra-light build, the Amflow PL
FRANKFURT, Germany, July 3, 2024 /PRNewswire/ — Amflow, the eMTB expert that builds e-bikes from heart to body, today marks its entry into the industry with the launch of the Amflow PL. Providing a significantly robust 850 W of peak power and weighing in at an industry leading level of ultra-light 19.2kg1, the Amflow PL provides riders with an unmatched combination of power, range, and performance, hidden in a sleek electric mountain bike appearance.

 
“As engineers with a passion for mountain biking, we have seen a lot of tech innovation that has never found its way into the eMTB scene,” said Peter Archer, Amflow Senior Product Specialist at Amflow. “We have married our tech expertise with our passion and today we’re introducing Amflow to the mountain biking community with our very first product, the Amflow PL. We believe this is a significant moment for the eMTB industry with innovative technology and ultra-light material combining to turn any terrain into a wonderland of possibilities for eMTB riders.”
Ultra-light Frame, Organic Design
The Amflow PL is a full-power eMTB with a stunningly lightweight body. The ultra-light carbon fibre frame weighs just 2.27kg1 and has been designed and expertly-crafted to deliver the ultimate ride, wherever the rider is headed.
Tackle Terrain with Confidence
At the heart of the Amflow PL is the DJI Avinox Drive System incorporating multiple cutting-edge technologies in both software and hardware design. The drive unit features a compound planetary gearset, providing industry-leading power-to-size ratio, with 105 Nm torque and peak power output of 850 W (nominal power output of 250 W) from a drive unit weighing just 2.52kg1.
The high-strength polymer gears inside the drive unit effectively suppress noise during high-speed gearbox operation. With multiple high-precision sensors built-in, combined with DJI’s advanced algorithms, it provides a strong and smooth assistance experience across a wide range of scenarios and conditions.
Preference Matching Assistance
In addition to traditional assistance modes, the DJI Avinox Drive System also features a specialized Auto mode, which adapts assistance in real-time based on road conditions and riding position1.  Once enabled, Auto mode empowers users to tackle a wide variety of terrain types and gradients without having to switch modes.
For the most challenging trails, Boost mode can be activated to instantly receive 120 Nm of torque and 1000 W high-power assistance1, enabling steep inclines to be tackled with ease.
Furthermore, Amflow PL has Walk mode which features intelligent walk assistance for easy incline traversing, Auto Hold to prevent rollback on slopes, and Hill Start Assist for additional torque to get riders started on inclines. It also allows stationary gear-shifting for a smooth and intuitive experience.
Fast Charging, High-Capacity Battery Offers Extended Range
The Avinox system’s battery weighs just 2.87kg1 and boasts an ultra-high energy density, ensuring an uncompromised range.
For those wanting to get back out there as soon as possible, a compact and convenient 12A/508W GaN fast charger1 is capable of charging the battery from 0% to 75% in just 1.5 hours1.
When it comes to battery life; real-time monitoring, self-discharge, active voltage reduction, and abnormality alerts, all feed into the battery health management system to create a durable and reliable battery that still maintains at least 80% capacity after 500 charge-discharge cycles1.
Agile and Responsive with Cutting-edge Geometry
The Amflow PL’s all-around frame design features cutting-edge geometry, offering balanced performance that’s both lightweight and hyper-agile. This stable yet agile handling empowers riders to easily take on rugged trails and more technical rides.
For those looking to adapt the wheel size to their needs, the Amflow PL frame structure is compatible with both 27.5″ and 29″ rear wheels1.  So, whether looking for a smoother ride with larger wheels or agility with smaller ones, a simple adjustment of the flip chip will allow for either size to be fitted without altering the frame’s geometric center of gravity.
Optimized Ride Efficiency
Featuring a four-bar linkage structure, the Amflow PL significantly reduces pedal kickback while greatly improving pedaling efficiency, ensuring that every pedal stroke counts.
Superior Suspension
The rear shock, co-tuned with FOX, offers a sensitive initial stroke response to effectively filter out minor vibrations. It also provides powerful end-stroke support to prevent bottom-outs during continuous high-speed impacts or steep descents, enabling riders to fully enjoy every off-road adventure.
Danny Tien, Asia Sales Manager at FOX said: “FOX has always been dedicated to pursuing better, which mirrors Amflow’s passion to create the ultimate riding experience. During our collaboration process, we were impressed by the enthusiasm and professionalism of the Amflow team. Whether as a business partner or an experienced bike user, we are excited to witness the birth of Amflow PL, an all-round electric mountain bike. The excellent handling experience brought by its ultra-lightweight and cutting-edge design cements our belief that the presence of Amflow will allow more cycling enthusiasts to enjoy the thrill of electric mountain biking.”
 Control at Your Fingertips
At the core of the DJI Avinox system is a 2″ full-color OLED touchscreen control display which is integrated directly into the frame of the Amflow PL. Riders are presented with a wealth of information including real-time riding data, estimated range and the ability to adjust the setup with just a swipe.
Even greater control can be gained by Bluetooth-enabled Wireless Controllers that connect wirelessly to the control display. Mode switches can be made while riding.
When connected to the Avinox App riders have access to;
Customizable Parameters: Parameters of riding modes can be quickly customized to adjust power, torque and cadence, according to riding habits.Anti-theft Mode1: A password-protected anti-theft mode will sound an alarm and the app will send a notification, if unauthorized movement of the eMTB is detected.Remote Locating: The bike’s real-time location can easily be checked.Comprehensive Data Recording, Easy Metric Sharing
With the control display or the Avinox app, riders can review rich data like speeds, range, cadence, power, torque, gradient, altitude, calories burned, ride times, heart rate, and more. This data can also be easily synced with third-party apps such as Strava to share with friends and the eMTB community. 
Thoroughly Tested for Optimum Reliability
Riders of the Amflow PL bike and users of the DJI Avinox Drive System components can be assured of the quality of the products as they have been certified by authoritative organizations such as TÜV SÜD, UL Solutions, and TÜV Rheinland1.
Additionally, Amflow has established a testing platform to conduct a wide variety of reliability tests for frame strength, waterproofing, and long-distance transportation under real-world riding conditions. This ensures product stability and safety in extreme environments, delivering comprehensive quality assurance.
Availability
Amflow products are estimated to be available by Q4 2024 through authorized dealers in Germany, the UK and Australia amongst others. This global service network provides customers with timely, efficient, and professional services, continuously safeguarding product quality.
For more information about Amflow and Amflow PL, please visit: https://www.amflowbikes.com/pl-carbon
About AmflowProudly born in 2023, Amflow is the creation of tech experts with a limitless passion for riding mountain bikes. The company strives to amaze with an unmatched combination of power, range, and performance, hidden in sleek electric mountain bike bodies. Amflow’s commitment to the e-bike industry is to make its e-mountain bikes the go-to for all e-bike riders looking to turn any terrain into a wonderland of possibilities. 
About DJISince 2006, DJI has led the world with civilian drone innovations that have empowered individuals to take flight for the first time, visionaries to turn their imagination into reality, and professionals to transform their work entirely. Today, DJI serves to build a better world by continuously promoting human advancement. With a solution-oriented mindset and genuine curiosity, DJI has expanded its ambitions into areas such as cycling, renewable energy, agriculture, public safety, surveying and mapping, and infrastructure inspection. In every application, DJI products deliver experiences that add value to lives around the world in more profound ways than ever before.
For more information, visit our:Website: https://www.amflowbikes.comFacebook: https://www.facebook.com/amflowbikes/Instagram: https://www.instagram.com/amflowbikesSubscribe to our YouTube Channel: https://www.youtube.com/@amflowbikes
1 All data was tested in controlled conditions. Actual experience may vary. For more details, please refer to the product page on the official Amflow website.
Photo – https://mma.prnewswire.com/media/2450854/image.jpg Photo – https://mma.prnewswire.com/media/2453451/Eurobike.jpg

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Artificial Intelligence

Cell Impact adds sealing as a new part of production process

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KARLSKOGA, Sweden, July 3, 2024 /PRNewswire/ — Cell Impact continues to develop its production process to better meet customer demand. The latest addition to the company’s production process is the opportunity to seal bipolar flow plates through dispersion.

Sealing is a critical part of the assembly of bipolar flow plates for fuel cells and electrolyzers.
“Together with our customers, we have evaluated various sealing processes over the past years with the ambition of adding this process to our production. Now, we are taking further steps to offer our customers a complete bipolar plate, ready to be assembled directly into their fuel cell and electrolysis stacks,” says Marcus Nilsson, Sales and Program Manager at Cell Impact.
Dispensing is one of the most popular sealing solutions used in the industry today.
“Dispensing offers both high precision and process flexibility and is thus suitable for our customers’ prototype and serial production products,” concludes Marcus Nilsson.
About Cell Impact
Cell Impact AB (publ) is a global supplier of advanced flow plates to fuel cell and electrolyzer manufacturers. The company has developed and patented a unique method for high velocity forming, Cell Impact Forming™ which is significantly more scalable and cost-efficient compared to conventional forming methods. Cell Impact Forming is an environmentally friendly forming technology that consumes no water and very little electrical power.
The Cell Impact share is listed on Nasdaq First North Growth Market and FNCA Sweden AB is the company’s Certified Advisor (CA).
For more information, please contact:
Daniel VallinCEO and IR contact, Cell Impact AB (publ)+46730686620 or [email protected]

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Artificial Intelligence

Flytxt included in the 2024 Gartner® Magic Quadrant™ for AI in CSP Customer and Business Operations

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DUBAI, UAE and MUMBAI, India, July 3, 2024 /PRNewswire/ — Flytxt, a leading provider of AI SaaS solutions that maximise Customer Lifetime Value (CLTV) for subscription businesses, announced its inclusion as a niche player in the Gartner Magic Quadrant for AI for CSP Customer and Business Operations report.

Flytxt believes that inclusion in the report reflects their expertise in providing market-proven CLTV maximisation solutions for CSPs leveraging their specialised AI, which is developed and refined over 12 years, and trained with trillions of data points from the Industry.  The rapidly deployable AI SaaS solutions help CSPs optimise decisions and actions across customer engagement contexts, such as in marketing, customer care or product management, to drive better business outcomes. 
“We’re delighted to be included in the Gartner Magic Quadrant for AI in CSPs Customer and Business Operations report. We chose a productised approach to delivering AI solutions, driven by our vision that an AI that continuously learns from different customer engagement contexts and markets delivers vastly improved accuracy and faster ROI to clients” said, Dr. Vinod Vasudevan, CEO of Flytxt.
“Our AI solutions empower CSPs to gain deeper insights into product usage and customer behaviour throughout their lifecycle, helping them optimise opportunities to maximise customer and product lifetime value. They can review and refine existing product catalogs, launch new products and offers, predict future actions or needs of customers, improve digital adoption and retention, and enhance marketing and care efficiency, all leading to tangible business outcomes” he added. 
The efficiently-trained and ready-to-deploy AI for CX solutions from Flytxt offers superior accuracy, efficiency, user trust, and faster time to value compared to generic or custom AI solutions. Today, more than 75 CSP’s leverage Flytxt’s solutions to improve their customer experience journeys and maximise customer lifetime value. 
For more information about Flytxt and its CLTV maximization solutions, please visit www.flytxt.com.
Gartner, Magic Quadrant for AI in CSP Customer and Business Operations, By Pulkit Pandey, Amresh Nandan, Peter Liu, 4 June 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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