Artificial Intelligence (AI) consulting services are multi- layered technical services that help enterprises enhance their business operations via implementing analytical processing and Machine Learning (ML) capabilities.
AI consulting services leverage Big Data accumulated from various IoT and IT related tools and devices. The information fed into the platform is used to formulate operational strategies and facilitates commercial diligence.
AI consulting services also ensure proper implementation of initiatives and strategies.
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Impact of Ongoing COVID-19 Pandemic on AI Consulting Services Market
Enterprise software and service spending in case of enterprises operating on upcoming as well as trending technologies is likely to increase at an average growth rate of 15% over the forecast period.
Large businesses are expected to continue procuring AI consulting services and data science solutions for enhancing their operations as lockdowns legislated by national governments across the globe require these businesses to move their operations off-site and employees have to work from home.
Small- and medium-sized businesses dealing with low funded operations are expected to invest in procuring AI consulting services to combat infrastructure related challenges, and cost effectiveness by outsourcing the AI services to consulting firms.
AI Consulting Services: Market Dynamics
Enterprise-grade IT operations are surpassing human scale. Traditional approach towards monitoring and tackling IT challenges is not enough in today’s dynamic IT environments. Manual Identification and management of such complexities lacks the much needed efficiency.
IT infrastructure exceeding human scale is the primary factor driving the adoption of AI consulting services in the global landscape. Volume of information that an IT infrastructure is required to process and archive is rising at a noteworthy pace.
Performance monitoring and management operations are giving out a larger number of alerts and notifications. Volume of tickets raised is experiencing considerable increase with introduction of Application Programming Interfaces (APIs), Internet of Things (IoT) devices, and solution mobility applications.
This factor makes manual reporting and analysis intensely complicated, thus increasing the demand for AI consulting services.Infrastructure related challenges demand immediate escalation. Technological consumerization has raised user expectations in every end-use industry.
IT infrastructure related events, notifications and alerts demand immediate attention, especially in cases where such issues affect user experience. AI consulting services possess great potential to cater to this demand. This in turn enhances their attractiveness in the market.
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AI Consulting Services Market: Competition Landscape
Some of the major players in the global AI consulting services market are
- IBM
- Salesforce.com
- Chatbots.Studio
- Accenture
- Centric Consulting
- Opex Analytics Inc
- Adastra
- ADDO AI
- AIBRIDGE
- Sofbang LLC
- Eigen Innovations
Following are recent key developments in global AI consulting services market:
- In April 2020 Atos SE acquired Miner & Kasch (now ATOS zData) a provider of AI consulting services and data science. With this acquisition Atos SE accelerated the deployment of its data science services.
- In December 2019 Accenture announced the acquisition of Clarity Insights a Chicago-based provider of machine learning and AI services for end-users operating in healthcare and BFSI industries. With this acquisition Accenture strengthened its portfolio to cater to the rising demand for data science emanating from the healthcare industry.
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AI Consulting Services Market: Segmentation
The global AI Consulting Services market can been segmented on the basis of use case, enterprise size and vertical.
use case:
- Automation Consulting
- Analytics Consulting
- Digital Transformation Strategy Formulation
- Others
enterprise size:
- Small- and Medium-sized Enterprises (SMEs)
- Large Enterprises
vertical:
- BFSI
- E-commerce
- Government
- Healthcare
- Telecommunication
- Others
Regional analysis includes:
- North America (U.S. Canada)
- Latin America (Mexico Brazil Rest of Latin America)
- Europe (Germany Italy U.K Spain France Nordic countries BENELUX Rest of Europe)
- East Asia (China Japan South Korea)
- South Asia & Pacific (India ASEAN Australia and New Zealand Rest of South Asia)
- Middle East and Africa (GCC Countries Turkey Northern Africa South Africa Rest of MEA)