Today, artificial intelligence (AI) chips are being extensively used for complex computations required by AI systems. Increasing adoption of artificial intelligence in advanced and avant-garde technologies has rendered massive demand for AI chips and semiconductors worldwide. Artificial intelligence chips are silicon-based chips powered by AI technology to provide high computing power to various connected devices such as smartphones, smart wearables, and laptops.
An increase in demand for smart homes and cities is expected to drive the market for artificial intelligence chips in the future. Artificial intelligence (AI) is used extensively across many industries, including the global automotive and security sectors. Artificial intelligence (AI) chips improve user experiences by boosting the operating performance of a device with advanced analytical capabilities, such as virtual reality (VR) and augmented reality (AR).
Enormous opportunities for the AI chip market have ensued from the increased adoption of automation to lower the risk of injury, enhance productivity, and use IoT for predictive machinery maintenance. The development of semiconductor nanowire laser technology and the expanding use of deep learning and neural networks primarily drive the market for artificial intelligence (AI) chips. For instance, in August 2020, the latest AI chipset, "Kneron KL 720 SoC," was introduced by Kneron. Its objective is to offer a comprehensive and cost-effective array of AI chipsets for devices worldwide.
According to a recent report by Allied Market Research, the global artificial intelligence chip market is projected to display a noteworthy CAGR from 2022 to 2031. Smart implementation of artificial intelligence (AI) chips is also anticipated to boost the world economy. By introducing new products like the EGX A100 and EGX Jetson Xavier NX in May 2020, for instance, NVIDIA Corporation expanded the functionalities of its EGX AI platform. It intends to implement high-performance and secure AI processing at the fringe. The system is built to protect and handle a lot of real-time data.
Apple Inc., Alphabet Inc., Intel Corporation, and Microsoft Corporation, Huawei Technologies Co., Ltd, NVIDIA Corporation etc. are some of the predominant players concentrating on developing AI chips with advanced technology such as big data, cloud, and others. Because of the high market competition, service providers are constantly focusing on product innovation and cost efficiency to ensure long-term viability. For example, Huawei Technologies Co., Ltd. brought forth its new Ascend 910 chipset named "MindSpore" AI computing structure in August 2019. This chip performs half-precision floating-point (FP16) processes to enhance the user experience.
For example, it is expected that the AI market will significantly focus on content automation. The coding required to produce a wide variety of original content, including images, videos, music, audio, and language, was developed by artificial intelligence (AI)-enabled software. According to Research Firm Gartner, by 2050, thirty percent of messages sent out by significant businesses by utilizing AI will be generated artificially. Additionally, it is expected that more firms will concentrate on developing AI systems for large-scale production in the upcoming years.
Increasing adoption of Artificial intelligence in almost every industry such as voice search, medical and military computation, object recognition, and intelligent routing is driving the demand for artificial intelligence (AI) chips even more. With virtual transformation and rising adoption of automated vehicles on board, use of the Internet of Things (IoT), artificial intelligence, supercomputers, quantum computing, and defenses application has become quite prevalent in the digital world.
Artificial intelligence (AI) is a proven technology from cloud-based software services to vehicle security systems. Due to its wide range of implementations, the AI industry is increasing. Many of the top AI businesses around the globe are using NVIDIA's GPU to implement their AI services. For instance, NVIDIA's recent adoption of Microsoft's AI stack (both hardware and software) for some of its stipulations scaled up NVIDIA's position as the industry leader. After Oracle revealed that it also uses Nvidia's AI capabilities for its cloud services, it announced a new partnership.
Alibaba Group Holding Limited introduced "Hanguang 800," an AI (artificial intelligence-based chipset), in September 2019. This chip offers advanced cloud computing capabilities and accelerates machine learning tasks, thus improving the customer experience altogether.
The pandemic, especially in its early stages, had hit the entire global economy. Lockdowns and travel ban around the world had a negative impact on most industries across the world. The Covid-19 pandemic had severely affected the supply chain, with most manufacturing companies halting their production processes. This epidemic also slowed the adoption of AI-based hardware and software products. However, as the overall situation started getting normalized, the artificial intelligence (AI) chip market also restored slowly and steadily.
Harshada Dive is an engineer by qualification. She has previous experience working as a customer service associate. As an associate content writer, she loves to experiment with trending topics. Harshada also enjoys gardening and listening to motivational podcasts.
