FINAL ASSESSMENT SEPTEMBER TRIMESTER 2021/2022
MGT7102 MANAGEMENT INFORMATION SYSTEM
1
CASE STUDY
Artificial Intelligence (AI) is playing an increasingly prominent role in day to day lives
and it has abilities to transform the technological landscape as it continues to develop.
Complex algorithms and processes, such as machine learning and deep learning, are
driving the transformation boosting the need for more powerful on-device AI solutions.
From the camera to smart assistants, AI can be found in almost every smartphone feature.
By simulating human intelligence, AI enables devices to acquire information and rules
automatically, and even reach conclusion and take actions independently. These
capabilities enable mobile devices to offer more enriching and secure experiences. As
the technology continues to advance, fast and power efficient on-device AI solutions will
be the key to unlock future innovations, such as virtual reality and autonomous driving,
and reduce the reliance on cloud AI operations.
Current smartphones devices are equipped with GPS tracking, as well as microphone
and camera features, making mobile the ideal platform for AI applications. Further,
Apple revealed that the iPhone XS, XS Max and XR will include an A12 Bionic chip
featuring a neural engine built to utilize AI hardware in previously impossible ways.
Combining AI technology with these built-in features makes apps more relevant and
personalized. Using AI to contextualize user behaviour will make each app session more
valuable than the last. As the smartphone market shifts from selling technology products
to delivering compelling and personalized experiences, AI solutions running on the
smartphone will become an essential part of vendor roadmaps over the next two years.
According to the report published by Allied Market Research, the global mobile artificial
intelligence (AI) market generated $8.56 billion in 2020, and is expected to reach
$84.80 billion by 2030, witnessing a compound annual growth rate (CAGR) of 26.44%
from 2021 to 2030. High demand for artificial intelligence in smartphones, rise in
demand for AI-capable processors, and increase in investment in AI technologies drive
the growth of the global mobile artificial intelligence (AI) market. However, high pricing
of artificial processors hinders the market growth. On the other hand, the emergence of
edge computing presents new opportunities in the coming years.
The artificial intelligence (AI) in manufacturing market is expected to grow at a
compound annual growth rate (CAGR) of 38.6% during the forecast period to reach
$13.96 billion by 2028. The rising popularity of artificial intelligence in manufacturing
industry for optimizing logistics & supply chains, enhancing production outcomes,
advancing process effectiveness, reducing costs and downtime in production lines while
delivering finished products to consumers are expected to drive the growth of the AI in
manufacturing market. Additionally, the advent of Industrial 4.0, the increasing volume
of large complex data, and the rising adoption of industrial IoT further contribute to
market growth.
FINAL ASSESSMENT SEPTEMBER TRIMESTER 2021/2022
MGT7102 MANAGEMENT INFORMATION SYSTEM
The AI in manufacturing market is segmented based on component (hardware [processors,
memory solutions, and networking solutions], software [AI platforms and AI solutions],
service [deployment & integration, support & maintenance]), technology (machine
learning, natural language processing, computer vision, speech & voice recognition,
context-aware computing), application (predictive maintenance & machinery inspection,
quality management, supply chain optimization, industrial robot, production planning,
material handling, field services, safety planning, cybersecurity, energy management),
industry verticals (automotive, semiconductors & electronics, heavy metals & machine
manufacturing, energy & power, aerospace & defense, medical devices,
pharmaceuticals, and FMCG), and region. The study also evaluates industry competitors
and analyses the market at the regional and country levels.
Based on component, the hardware segment is estimated to account for the largest share
of the AI in manufacturing market in 2021. The large market share of this segment is
primarily driven by the increasing demand for robust and cost-effective devices,
including servers, storage, and networking devices. However, the software segment is
slated to grow at the fastest CAGR during the forecast period due to the high adoption
of cloud-based technologies and the increasing demand for AI platforms to streamline
processes and operations.
