Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

Global AI in Project Management Market Report 2023: Rising Demand for Cost Optimization Across Various Industries Drives Growth

Published

on

<!– Name:DistributionId Value:8833009 –> <!– Name:EnableQuoteCarouselOnPnr Value:False –> <!– Name:IcbCode Value:2790 –> <!– Name:CustomerId Value:1026737 –> <!– Name:HasMediaSnippet Value:false –> <!– Name:AnalyticsTrackingId Value:d9b69041-0431-4681-93bc-6d7a1e331138 –>

Dublin, May 05, 2023 (GLOBE NEWSWIRE) — The “Global AI in Project Management Market Size, Share & Industry Trends Analysis Report by Application, Vertical, Deployment Mode, Organization Size, Component, Regional Outlook and Forecast, 2022-2028” report has been added to ResearchAndMarkets.com’s offering.

The Global AI in Project Management Market size is expected to reach $5.5 billion by 2028, rising at a market growth of 17.4% CAGR during the forecast period.

Key Market Players

List of Companies Profiled in the Report:

  • IBM Corporation
  • Hitachi, Ltd. (Hitachi Energy Ltd.)
  • Oracle Corporation
  • Adobe, Inc.
  • Microsoft Corporation
  • ServiceNow, Inc.
  • Atlassian Corporation PLC
  • PMaspire Singapore PTE Ltd.
  • ALICE Technologies, Inc.
  • Aitheon

AI in project management is essentially a system added to the project management cycle to support human tasks. It uses machine learning’s infinite processing power to extract meaning and support decision-making for projects. The primary function of AI in project management is to bring value at various points in the lifecycle of the project.

For example, AI can help companies or project managers distribute tasks and allocate resources, match the right personnel with the correct talents and responsibilities, and aid in recruiting by identifying the best candidates for the project.

The modeling and imitation of human cognitive operations by computer systems, known as artificial intelligence (AI), enables machines to replicate human abilities (like reasoning, generalizing, or discovering meaning). AI uses algorithms to evaluate large data sets to find features, classify kinds, understand preferences, and anticipate behavior. The sector for project management tools has seen a steady expansion of AI.

Artificial intelligence (AI) has developed from simple task automation to predictive decision management and predictive analytics, which eliminates human bias and error. It is typical for project managers to oversee many teams and projects at once. These initiatives frequently need to work together toward a larger objective. Finding ways to streamline the procedure and increase efficiency is a top priority in a sector with many moving parts.

By streamlining the process, project managers can produce more accurate results and even more effective coaching for specific personnel. In order to handle anything from scheduling to evaluating the habits of a working team and making suggestions, artificial intelligence is gradually being integrated into project management systems and technologies. With these enhanced tools, the future value of AI for project managers is clear.

Market Growth Factors

Greater need to increase project success rates

Forward-thinking businesses that prioritize project management can continually produce positive business outcomes and remain competitive with the aid of modern technology like AI. Using the proper techniques and processes can result in cost savings, increased productivity, increased stakeholder and customer satisfaction, and a sustained competitive edge.

As they develop the necessary expertise among their teams, more organizations are spending time, money, and effort educating their teams in project management best practices and realizing quantifiable outcomes. Therefore, in the coming years, AI in project management market will expand significantly owing to its benefits of AI.

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The illustration shows the percentage of revenue shared by some of the leading companies in the market.

The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.

Rising demand for cost optimization across various industries

AI-based project management systems can increase project efficiency overall and lower costs. Project teams can concentrate on more value-added tasks that can lead to better project outcomes by automating repetitive chores like data entry and reporting.

Moreover, AI can offer predictive analytics to assist businesses in making data-driven decisions that can improve overall project results and forecast accuracy. Hence, the prominent benefit of cost reduction through AI has gained lots of positive remarks from industries, which in turn, aids in the rapid adoption of AI technologies and market growth.

Market Restraining Factors

A rise in worries about data security and privacy

Due to budgetary constraints, SMEs cannot afford a private cloud, making these services more susceptible to security threats and hacks. Project management solutions are also more susceptible to data breaches and cyberattacks due to their accessibility on mobile devices.

The conclusion that follows is that companies in highly controlled sectors are hesitant to use advanced Al-based project management solutions due to financial constraints or information security concerns. This, in turn, may hamper the advancement of AI in project management market.

Scope of the Study

By Application

  • Project Data Management, Project Scheduling & Budgeting
  • Project Monitoring, Support & Administration
  • Resource Allocation, Planning & Forecasting
  • Risk Management
  • Data Analytics, Reporting & Visualization
  • Others

By Vertical

  • Telecom, IT & ITeS
  • Construction & Engineering
  • Government & Defense
  • BFSI
  • Healthcare & Life Sciences
  • Retail & eCommerce
  • Energy & Utilities
  • Manufacturing
  • Others

By Deployment Mode

  • On-premise
  • Cloud

By Organization Size

  • Large Enterprises
  • Small & Medium Enterprises

By Component

  • Solution
    • Predictive Analytics
    • Robotic Process Automation
    • Speech Recognition
    • Chatbots & Intelligent Virtual Assistant
  • Services

For more information about this report visit https://www.researchandmarkets.com/r/j9osgq

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Aetina Accelerates Embedded AI with High-performance, Small Form-factor Aetina IA380E-QUFL Graphics Card

Published

on

aetina-accelerates-embedded-ai-with-high-performance,-small-form-factor-aetina-ia380e-qufl-graphics-card

TAIPEI, April 25, 2024 /PRNewswire/ — Aetina, a leading Edge AI solution provider, announced the launch of the Aetina IA380E-QUFL at Embedded World 2024 in Nuremberg, Germany. This groundbreaking product is a small form factor PCIe graphics card powered by the high-performance Intel Arc A380E GPU. 

Unmatched Power in a Compact Design
The Aetina IA380E-QUFL delivers workstation-level performance packed into a low-profile, single-slot form factor. This innovative solution consumes only 50W, making it ideal for space and power-constrained edge computing environments. Embedded system manufacturers and integrators can leverage the power of 4.096 TFLOPs peak FP32 performance delivered by the Intel Arc A380E GPU[1].
Beyond Small Size: Big Capabilities
Despite its compact size, the IA380E-QUFL offers native support for 4 mini-DisplayPort outputs and 6GB of GDDR6 memory, enabling the connection of multiple high-resolution displays (UHD). This makes the IA380E-QUFL an excellent choice for a wide range of applications, including commercial gaming, video walls, medical imaging, and visual inference for smart cities.
“The demand for slim and energy-efficient AI systems is rapidly escalating,” said Jackal Chen, Senior Product Manager at Aetina. “The Aetina IA380E-QUFL addresses this need head-on, offering a powerful GPU solution in a compact, single-slot form factor with minimal power consumption. This empowers developers to create powerful and efficient edge systems for a wide range of applications.”.
Unparalleled Commitment: 5-Year Product Supply
Acknowledging the critical need for long-term product stability in industrial applications, Aetina ensures a 5-year product supply for the Aetina IA380E-QUFL, which streamlines system roadmaps and reduces the need for costly redesign. Our commitment is aligned with Intel’s announced product plans for the Intel Arc A380E GPU.[1]
[1]https://www.intel.com/content/www/us/en/content-details/820389/intel-arc-gpu-for-the-edge-public-30-3-30.html?wapkw=Intel%20Arc%20GPU%2030-3-30&DocID=820389 Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.
Photo –  https://mma.prnewswire.com/media/2395995/High_performance_Small_Form_factor_Aetina_IA380E_QUFL_Graphics_Card.jpg

View original content:https://www.prnewswire.co.uk/news-releases/aetina-accelerates-embedded-ai-with-high-performance-small-form-factor-aetina-ia380e-qufl-graphics-card-302125786.html

Continue Reading

Artificial Intelligence

IG Canada Announces Enhanced Trading Platform for Enhanced User Experience

Published

on

ig-canada-announces-enhanced-trading-platform-for-enhanced-user-experience

Meta description : Explore IG Canada’s advanced trading platform, educational resources, and robust security features. Achieve your trading goals with the innovative tools.
NOTTINGHAM, England, April 25, 2024 /PRNewswire/ — IG Canada, a premier online trading platform, is pleased to announce significant enhancements to its trading technology, designed to empower both novice and experienced traders with superior tools and resources. This development is part of IG Canada’s commitment to providing the best trading experience in the Canadian market.

IG Canada has upgraded its platform with advanced features that streamline trading processes and improve the accuracy of trade execution. These enhancements include customizable charts, a wider range of indicators, and improved mobile access, ensuring traders can operate efficiently from anywhere at any time.
Recognizing the importance of education in trading success, IG Canada has expanded its educational resources. The brokerage now offers a comprehensive learning center featuring webinars, tutorials, and articles that cater to various skill levels. These resources are designed to help traders develop robust trading strategies and improve their market knowledge.
Security remains a top priority for IG Canada. The latest updates include enhanced encryption and multi-factor authentication to protect client data and funds. These security measures provide peace of mind for traders, knowing their investments are safeguarded against potential threats.
IG Canada is a leading online brokerage that provides trading services across multiple asset classes, including forex, stocks, commodities, and indices. With a focus on innovation and customer service, IG Canada is committed to helping Canadian traders achieve their investment goals through a transparent and efficient trading environment.
In addition, IG Canada is committed to engaging with the community through upcoming webinars, live events, and partnerships with local financial experts. These initiatives are designed not only to support the growth and education of the clients but also to foster a stronger, more connected trading community in Canada.
Press Contact:Contact Name: Timothy C. SherwinEmail: [email protected] Phone: +447 441425053

View original content:https://www.prnewswire.co.uk/news-releases/ig-canada-announces-enhanced-trading-platform-for-enhanced-user-experience-302127189.html

Continue Reading

Artificial Intelligence

Sentrycs Now Part of the UK National Protective Security Authority Catalog of Security Equipment

Published

on

sentrycs-now-part-of-the-uk-national-protective-security-authority-catalog-of-security-equipment

This inclusion into the NPSA CSE marks a significant milestone in the company’s commitment to enhancing national and international airspace security and to leading the C-UAS market toward multi-layer strategy optimization and excellence.
TEL-AVIV, Israel, April 25, 2024 /PRNewswire/ — Sentrycs, a leading innovator in adaptive counter-drone solutions, is proud to announce its inclusion in the prestigious UK National Protective Security Authority Catalogue of Security Equipment (NPSA CSE).
 
Following a rigorous assessment process, Sentrycs’ cutting-edge Counter Unmanned Aerial Systems (C-UAS) solution has met the high standards set by the NPSA for Detection, Tracking, and Identification (DTI). The testing, conducted at the NPSA’s designated testing facilities in August 2023, rigorously evaluated the Sentrycs system against the NPSA’s DTI Testing and Evaluation Standard v3.1.
Sentrycs elected to be assessed under Configuration D as a 3D system with Ground Control Station (GCS) detection capability and platform identification capability, which is the most demanding test scenario with the highest number of scored parameters.
The Sentrycs system demonstrated exceptional capabilities in various security scenarios, showcasing its robustness in detecting and tracking with high accuracy and zero false alarms. The system’s innovative use of cyber techniques to extract data from targets and its streamlined human-machine interface were especially noted for their efficiency and ease of use.
“Our team is proud to have Sentrycs recognized by the UK National Protective Security Authority,” said Yoav Zaltzman, CEO of Sentrycs. “Being listed in the CSE is not just an honor; it’s a testament to our technology’s reliability and effectiveness in contributing to the ever-changing airspace security landscape.”
Sentrycs’ technology is now accessible through the NPSA CSE, providing security practitioners with verified solutions that meet the UK’s rigorous security standards. This inclusion not only underscores Sentrycs’ role in advancing security technology but also enhances its visibility and credibility on a global stage.
For more details on Sentrycs’ solutions and their impact, visit www.sentrycs.com.
For further information regarding the NPSA and the Catalog of Security Equipment, please visit the NPSA’s official website.
About Sentrycs
Sentrycs is a leader in adaptive counter-drone solutions, supported by innovative technology designed to passively identify, mitigate, and where necessary, intercept unauthorized drones custom-built for various environments – including airports, borders, prisons, critical infrastructure, and mass events. Founded in 2017, Sentrycs’ has offices in Israel and the US, serving customers worldwide. By uniting its field-proven technology and expertise in global drone environments, Sentrycs is leading the way towards a safer and more secure drone-driven future. Learn more at www.sentrycs.com
Video – https://www.youtube.com/watch?v=YBuhpTq5QuM

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/sentrycs-now-part-of-the-uk-national-protective-security-authority-catalog-of-security-equipment-302126952.html

Continue Reading

Trending