Artificial Intelligence (AI) has sparked a revolution across industries and is playing an integral role in the progression of disruptive technologies worldwide. While AI is performing exceedingly well in different applications and processes, at the heart of it is deep learning. The technology which was once a subject of research has now gone mainstream with its state-of-the-art applications in the most important industries globally.
Deep learning uses neural networks with many intermediate layers of artificial “neurons” between the input and the output, inspired by the human brain. The technology excels at modeling extremely complicated relationships between these layers to classify and predict things.
Deep Learning has been embraced by a vast range of industries, from healthcare, to finance, advertising and retail, to manufacturing and transportation. It has been ranked second among nearly 2,700 technologies in a machine learning-based analysis of innovation data. With massive amounts of computational power, deep learning has become extremely popular in image interpretation, speech recognition, autonomous driving, chip design, manufacturing, and medical imaging, among others. Various value-generating implications result from the accelerated development of deep learning, and many are poised to radically streamline industries.
Deep learning is making a significant contribution to the business world, and the economy is already beginning to feel the impact. The deep learning market is expected to reach $18.2 billion by 2023 from $3.2 billion in 2018, growing at a CAGR of 41.7%. The confluence of three factors- the rise of big data, the emergence of powerful graphics processing units (GPUs), and increasing adoption of cloud computing is fuelling the rapid growth of deep learning.
Companies are now unleashing the power of deep learning to develop solutions that can provide a competitive advantage by augmenting human intelligence, leading to new possibilities for innovation. According to a recent research, companies founded on deep learning technologies will unlock tens of trillions of dollars in productivity gains, and add $17 trillion in market capitalization to global equities during the next two decades.
As deep learning continues to transform and evolve, it is helping enterprises to bring a new breed of innovations, pushing the capabilities to the edge for both businesses and the global economy. In the years to come, every aspect of our lives will soon be transformed by AI, machine learning and deep learning, through innovations and disruptions. Not surprising to say we are heading into a future dominated by smart machines with unmatched human reasoning.