FT商学院

AI service providers mine a rich seam of demand for efficiencies

Clients from media to manufacturing are driving growth at software groups
Waymark’s software, above, can produce a 30-second video advert for clients within minutes

The business market for artificial intelligence (AI) software is booming as companies seek new ways to cut costs and auto­mate laborious tasks. And that trend is already reflected in this year’s FT-Statista ranking of the Americas’ 500 fastest-growing companies: it includes at least two dozen that claim to use AI or machine learning in their products.

The market for AI services is estimated to be worth $50bn in the US alone this year, but it will still be between three to five years before a majority of companies are using the technology, predicts Nick Patience, managing analyst at 451 Research, part of S&P Global Market Intelligence.

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