Industry News

Apple Acquired Artificial Intelligence Startup Turi

San Francisco: Apple, Inc. acquired Turi Inc., an artificial intelligence start-up to gain competitive edge in Artificial Intelligence (AI) market, specifically in pervasive computing globally. Turi Inc. was engaged in developing and managing software & services which uses machine learning, a form of AI. This allows enterprises to detect fraud, analyse customer usage pattern, and accordingly help in targeting potential users.

Acquisition of Turi allows Apple to gain edge in pervasive computing, where software allows to automatically infer preferences of people and their requirement. Integration of Turi’s technology in Apple’s Siri digital assistant would change the way computers interact with people.

TechSci Research depicts that the rising demand for artificial intelligence technology, majorly in speech and voice recognition for more natural way of interaction between human and machine is witnessing an upsurge. Further, rising investments in machine learning, natural language processing, cyber security, robotics and automation by various enterprises is also fuelling the growth of artificial intelligence market. Growing trend of autonomous vehicle such as unmanned aerial vehicles, and autonomous cars are expected to emerge as the major end user segments for artificial intelligence in the coming years.

According to the recent report published by TechSci Research, “United States Artificial Intelligence Market, By Application (Speech Recognition, Image Recognition, etc.), By Region, and By End User (Consumer Electronics, Security & Access Control, etc.) Competition Forecast & Opportunities, 2011-2021” the market for artificial intelligence in the US is projected to grow at a CAGR of around 75% during 2016 - 2021. Growing trend of integration of video surveillance with artificial intelligence for video analysis, coupled with rising government spending on cyber security solutions integrated with real time analytics and artificial intelligence is expected to boost artificial intelligence market in the United States over the next five years. In 2015, the US artificial intelligence market was highly fragmented, with presence of a huge number of start-ups in the country. However, the market is expected to undergo consolidation in the coming years, with tech giants such as Apple, Google, Microsoft, Intel, Amazon, IBM, etc., thrusting on inorganic expansion in the country’s artificial intelligence market. Research and developmental activities on integration of 3D printing, artificial intelligence and neurotechnology are expected to augment artificial intelligence adoption in the US healthcare market. 

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