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AI in the Enterprise: Vertical Solutions on the Horizon

By Svetlana Sicular | August 20, 2020 | 0 Comments

AI in the EnterpriseAI

How can enterprise business leaders choose from a host of seemingly similar AI solutions under the time and budget crunch? What might catch their eye within their short attention span? The answer is a solution that solves exactly their business problem, because business people have neither background nor enthusiasm to figure out how to apply technical, non-subject-matter-specific horizontal solutions to their business.

By 2023, 85% of AI solutions by vendors will focus on concrete domains and industry verticals.

 

Given the current levels of investment, continuing adoption and striking examples from market leaders, we expect AI to become pervasive. If this happens, then AI ought to be within reach of business domains and verticals. Business specialization of AI solutions will also lead to specific AI market segments with their own dynamics, reflecting the pace and culture of the domains they serve.

With the increase of domain-specific AI applications and offerings — like in sales, marketing, supply chain, finance, HR, and vertical-industry-specific applications — the pace of adoption will accelerate, as those AI applications and offerings will shorten the path to production by reducing the development time and associated risks. AI expertise in industries and domains will aggregate and accelerate industry compliance efforts and will surface common approaches to ethics, trust and reputational concerns for concrete domains and verticals.

We keep writing about AI in vertical industries and our clients are eager to read it, these are just some examples:
Tool: Use Cases to Seize AI Investment Opportunities 
How to Use AI to Improve the Customer Experience, 
Strategic Framework of AI Use Cases in Retail, 
Toolkit: Strategic Technology Maps for AI Use Cases in Banking and Securities for Product Planning,
Toolkit: Artificial Intelligence Use Cases for Insurance, 
Emerging Technologies and Trends Impact Radar: Artificial Intelligence in Manufacturing, 
Understand the Value of AI for Healthcare Delivery Organizations

Top Three AI Application Types in Banking and Investment Services, Manufacturing and Government

AI Vendors Are Introducing Vertical Solutions

Gartner already observes many AI vendors narrowing down their focus to specific business problems, although their tools can do much more than solve these problems only. For example, some NLP-proficient vendors pivot to legal, media and life sciences; some computer-vision-proficient vendors pivot to medical imaging interpretation and workplace safety; some time-series analysis specialist vendors shift to Internet of Things analysis and customer behavior. Vendors with niche AI capabilities deliver interesting solutions for concrete use cases, rather than just basic AI capabilities — for example, fraud detection rather than anomaly detection, contract reviews rather than text analytics, customer 360 rather than graph-based AI. This trend will continue and expand with the growth of organizational adoption of AI.

 

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