Market Challenges
Last updated
Last updated
With the uptake of AI systems, be it complex systems for simple tasks such as payment solutions, to vast self-learning systems that can create content with human-like creativity; AI is about to become integrated into society more and more.
Many of you already ask ‘Hey Google’ or ‘Alexa’ or have ‘Siri’ answering your questions or taking you to web pages. With an industry already changing from 30-40 new start-ups a year in the early 2000s to over 800 new start-ups a year in the late 2010s, this is only just the beginning.
As seen in the example chart from Precedence Research, the AI and machine learning market size is expected to be 20X in only nine years from 2021, with the global lockdown due to Covid-19 spurring companies forward in their adoption of automated and machine-learned processes.
With much of the competition currently coming onto the market, it is the quality of the machine learning, alongside the variety of tasks that the AI product can perform, that will be key to the success of most companies
Brief Market Analysis:
With many capital management funds failing to protect themselves in the bear market of 2022 and API keys for trading accounts being leaked, there is a large gap in the market for secure, command-driven trading of crypto, stocks, and forex.
With companies requiring images to be developed that fit exacting specifications, the cost of graphic designers can sometimes be the majority of a marketing budget. Image generation using command lines is already in high demand, with multiple companies already making headway in this sector. This will likely pose a solid challenge to the part of the Avorak model.
Generating text or conversing with AI is the most readily available mind-learning product to retail currently. Being able to create large sections of text or ask questions and receive human-like responses is in high demand from the general public, and creating a unique, highly advanced product will be a requirement if Avorak is to push into the position of the market leader.
