According to IDC, the worldwide revenue from the market for cognitive systems and AI is expected to grow from approximately $8 billion in 2016 to more than $47 billion in 2020.
Five years ago there were no cognitive engines as we define them today. Then the founders of Veritone prodded a major software company to release some code from a research project and an industry was born.
Today there are over 5,000 cognitive engines. In five years, we expect the number to be over a million. And in the not too distant future, we believe that there will be algorithms that identify market opportunities and build their own new algorithms to fill them.