New report finds 105% growth in artificial intelligence revenue

14th August 2019
Posted By : Lanna Cooper
New report finds 105% growth in artificial intelligence revenue

While the overall artificial intelligence market saw steady growth last year, SAS experienced growth at a rate nearly four times faster than the overall market, at 104.6% according to the IDC report, Worldwide Artificial Intelligence Software Platforms Market Shares, 2018: Steady Growth - Moving Toward Production. SAS ranked second overall in 2018 in the AI software platforms category.

“SAS had impressive growth in the artificial intelligence market, no doubt as a result of its leadership in analytics,” said David Schubmehl, Research Director, Cognitive/Artificial Intelligence Systems at IDC.

“As organisations move from experimentation to production in AI to solve their business problems, many are looking for a trusted vendor that offers analytics expertise and domain knowledge. SAS’ embedded AI capabilities and integration with open source technologies allows organisations to take advantage of the technology to automate processes, without the heavy lifting of training AI models.”

To continue fostering innovation and progress in an expanding market, SAS has committed to invest $1bn in AI over the next three years.

The $1bn investment focuses on three main areas:

  1. Research and Development (R&D) innovation to continue to build on the success of SAS’ global AI efforts
  2. Education initiatives addressing customer and partner needs to better understand and benefit from AI
  3. Expert services to optimise customer return on AI projects.

Devoting 26% of its overall revenue to R&D, SAS reinvests more than twice the average for major technology firms.

“AI has been an integral part of SAS software for years,” said Jim Goodnight, CEO of SAS. “Today we continue to move beyond the hype to make AI real for our customers, building on our strong foundation in advanced analytics. From machine learning, deep learning, computer vision and natural language processing to forecasting and optimisation, SAS helps customers in many industries benefit from AI technologies and the intelligence they create.”

Customers using AI from SAS include Lockheed Martin, Royal Bank of Scotland and Honda. Learn more about how SAS delivers AI, empowering organisations to make more intelligent and automated business decisions. One of the key technologies for doing this is SAS Viya, transparent, interpretable technology that helps users at all skill levels automate complex tasks to build analytical models.

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