The Deep Learning Market will be worth US$18bn by 2024
The Deep Learning market is expected to grow by 43% by 2024, up to a net value of $18bn, according to a new report by MarketWatch. The market’s major players according to the report (Google Inc., Microsoft Corporation, Qualcomm Technologies, Inc., IBM Corporation, Intel Corporation, General Vision Inc. and NVIDIA Corporation)
Deep Learning, also known as deep structured learning or hierarchical learning, is a form of artificial intelligence machine learning inspired by the structure of the human brain. Using simulated neural networks, the technology has proven to dramatically increase the effectiveness of speech and image recognition software. The MIT Technology Review reported that “a Google deep-learning system that had been shown 10 million images from YouTube videos proved almost twice as good as any previous image recognition effort at identifying objects such as cats. Google also used the technology to cut the error rate on speech recognition in its latest Android mobile software.”
MarketWatch’s new report analyses different segments of end-user: Automotive, Aerospace & defense, Healthcare, Manufacturing, etc.
One application of Deep Learning software is an anti-poaching and public safety program currently being trialed in South African wildlife parks. AxxonSoft, a global provider of artificial intelligence solutions, is currently operating a Deep Learning-driven conservation service: ‘Safe Parks’.
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“AxxonSoft’s deep learning technology, which is applied to both our Safe Cities projects and Safe Parks, is the same technology, it has just been adapted and taught different outputs in terms of what to look for from a surveillance point of view,” explains Colleen Glaeser of AxxonSoft.
Geographical reports that “by installing cameras around the perimeter of parks and game reserves, security forces can adapt their approach to poaching. Rather than constantly trying to apprehend criminals in the aftermath of poaching incidents, they can immediately send rangers and/or camera drones to hotspots when alerted by a smart software system that red flags likely poachers before a crime is even committed.”
Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.