The “Global Artificial Intelligence (AI) in Social Media Market 2019-2023” report has been added to ResearchAndMarkets.com’s offering.
The global artificial intelligence (AI) in social media market will register a CAGR of over 30% by 2023.
The growing demand for smart homes and the development of smart cities is identified as one of the key trends that will gain traction in the global artificial intelligence (AI) in social media market for the next four years. AI in social media is being used in home appliances to predict consumer preferences, which are based on historical data. AI in social media helps make transportation smarter, urban planning optimal, and cities safer. It helps track citizens habits, behavioural characteristics, and activities.
Growing demand for data integration and visual analytics
AI in social media helps end-user companies integrate technical and business process data from different sources and convert it into meaningful business insights. Vendors in the market are introducing AI-powered products to increase the AI capabilities of analytics.
Lack of skilled workforce for the development of AI algorithms
End-user companies implementing AI in their social media platforms are required to have sound knowledge of the working of AI software platforms. They should also periodically update the necessities to ensure smooth operations. This lack of technical knowledge often deters end-users from adopting AI in their social media platforms.
The market appears to be fragmented and with the presence of several companies and the competitive environment is quite intense. Factors such as the growing demand for smart homes and the development of smart cities and growing demand for data integration and visual analytics, will provide considerable growth opportunities to global artificial intelligence (AI) in social media market manufactures. Alphabet, Amazon, IBM, Microsoft, and SAS Institute are some of the major companies covered in this report.