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Briefing: Measuring the impact of the COVID-19 Economy on AI/ML Projects and Teams

Briefing: Measuring the impact of the COVID-19 Economy on AI/ML Projects and Teams

Labelbox
Published By: Research Desk Released: Jun 17, 2020

The market for artificial intelligence and machine learning technologies is expected to top $190 billion by 2025, with growth in computer vision applications leading the way . This is mostly due to the production results that AI technologies can bring in terms of revolutionizing the way that goods and services are delivered while helping to reduce operational costs through automation, robotics, and greater organizational efficiency.

However, the current COVID-19 pandemic currently threatens economies with major disruptions and uncertainties. In this volatile economic environment, artificial intelligence and machine learning technologies are emerging as key strategies for both surviving today’s uncertainties and ensuring a resilient future, however, this has not changed the fact that projects and people have been severely impacted by the health pandemic.

Researchscape, a leading market research firm, was commissioned by Labelbox to research the current state of data science projects and teams as a result of the economic recession caused by COVID-19 (among other topics). Summarized below are the results of that research.