Spending on artificial intelligence in Asia Pacific is set to soar over the next five years as the demand for deep learning ramps up.
By 2024, the APAC region is estimated to account for about 30 per cent of the global AI platform revenue at approximately U.S.$97.5 billion, according to research firm GlobalData.
But that figure is expected to increase with businesses and the rising number of start-ups specialising in the technology and advancement in the space supporting higher computational capabilities.
Sunil Kumar Verma, lead ICT analyst at GlobalData, said the APAC market is already deploying deep learning-based AI technology for offline automation, safety and security for businesses and assets.
“In addition, AI hardware optimisation with increased computing speed on small devices will result in the cost reduction and drive deep learning adoption across the region,” Verma said.
He added that deep learning is becoming a stepping stone towards technological evolution across APAC, but still had some teething troubles.
“With the lack of skilled professionals and the fact that only a handful of technology companies are focusing on investing, hiring and training their workforce specifically for deep learning, there would be some initial roadblocks before witnessing success in adoption rates,” he said.
Across APAC, some companies are already using deep learning in their products, including Daisee and Cognitive Software Group in Australia.
Daisee leverages deep learning in its Lisa algorithm to identify conversational elements, determine meaning and derive context.
Meanwhile, Cognitive Software Group, uses both machine and deep learning to tag unstructured data to enhance natural language understanding.
Outside of Australia, GlobalData also identified the China-based SenseTime and the India-headquartered DeepSight AI Labs as noteworthy businesses utilising deep learning.
SenseTime uses deep learning for image recognition, intelligent video analytics and medical image recognition through its facial recognition technology DeepID, while DeepSight AI Labs’ SuperSecure platform uses AI to detect objects and behaviours in video surveillance.
Other examples include digital assistants, like Siri, GoogleNow, Alexa and Cortana, which utilise deep learning to a degree for natural language processing and speech recognition.