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The market for AI as a Service is estimated to grow from USD 9.3 billion in 2023 to USD 55.0 billion by 2028, at a CAGR of 42.6% during the forecast period.

AI is driving new capabilities and innovations in AIaaS, enabling providers to offer new and innovative services such as natural language processing and image recognition. Additionally, AI is transforming AIaaS by enabling new capabilities such as customization, automation, and innovation. This technology is transforming the way companies approach their data management and analytics needs, enabling them to automate their decision-making processes and gain valuable insights from their data.

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Top AI as a Service Companies:

Major AI as a Service companies included in the report are IBM (US), Microsoft (US), Google (US), AWS(US), FICO(US), SAS Institute(US), Baidu(China), SAP(Germany), Salesforce(US), Oracle(US), Iris.AI(), Craft.AI(France), BigML(US),  H2O.ai(US), Vital.ai(US), Fuzzy.ai(Canada), RainBird Technologies(UK), SiftScience(US) DataBricks(US), CenturySoft(India), DataRobot(US), Alibaba(China), Tencent(China), Dataiku(US), Yottamine analytics (US), Tecnotree (Finland), Cloudera(US) and Meya.ai (KSA).

These AI as a Service vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global market.

IBM:

• IBM (International Business Machines Corporation) is an American multinational technology company founded in 1911, that produces and sells computer hardware, middleware, and software, as well as providing hosting and consulting services in areas ranging from mainframe computers to nanotechnology. IBM's AI offerings are part of the company's Watson suite of products, which is designed to help businesses harness the power of AI and cognitive computing. IBM Watson offers several AIaaS solutions, including natural language processing (NLP), speech recognition, and image recognition. IBM has a presence in more than 175 countries in North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Google:

• A multinational technology company Google was founded in 1998 and headquartered in Menlo Park, US. Google offers a range of products and services that include internet search, cloud computing, online advertising, and AI as a Service (AIaaS). Google's AIaaS offerings are designed to help businesses of all sizes leverage the power of AI and machine learning to drive innovation and growth. Google's AIaaS offerings are part of its Google Cloud Platform, which includes a suite of products and services designed to help businesses harness the power of cloud computing and AI. Google Cloud AI Platform is one of Google's flagships AIaaS offerings, providing businesses with tools to build, train, and deploy machine learning models at scale. Google Cloud AI Platform is available in many regions across the world, including the United States, Canada, Europe, Asia Pacific, and South America.

AWS:

• Amazon Web Services (AWS) is a subsidiary of Amazon.com and was launched in 2006 as a cloud computing and infrastructure service provider. Businesses of all sizes leverage the power of AI and machine learning to drive innovation and growth. AWS provides a comprehensive set of AI and ML services designed to help businesses of all sizes build and deploy intelligent applications in the cloud. With services like Amazon SageMaker, businesses can easily build and train custom machine learning models using popular frameworks like TensorFlow and Apache MX Net. AWS also offers pre-trained models and services like Amazon Rekognition, which can quickly detect and recognize objects, faces, and text in images and videos. Natural language processing (NLP) is another area where AWS excels, with services like Amazon Comprehend that can analyze large volumes of text to extract insights and identify sentiment. And for speech recognition and translation, Amazon Transcribe and Amazon Translate provide reliable, accurate results. AWS has a global presence, with data centers and regions in various locations around the world, including North America, South America, Europe, Asia Pacific, and the Middle East.

FICO (US):

• Known for credit scoring models, FICO offers AIaaS solutions for fraud detection, risk management, and customer behavior analysis. These services can be integrated into various applications to make data-driven decisions.

SAS Institute (US):

• Provides SAS Viya, an AI platform offered as a service. It allows businesses to access machine learning and analytics tools without extensive upfront investment in hardware or software.

Baidu (China):

• Offers a suite of AIaaS products within its AI platform. These include natural language processing (NLP) tools, computer vision capabilities, and speech recognition. Businesses can leverage these services to enhance their applications without building complex AI models from scratch.

SAP (Germany):

• Provides SAP Leonardo, an AIaaS platform offering pre-built AI models and tools for various industries. Businesses can utilize these services for tasks like predictive maintenance, intelligent automation, and customer sentiment analysis.

Salesforce (US):

• Offers Salesforce Einstein, an AI platform integrated with its CRM (Customer Relationship Management) software. It provides AI features like lead scoring, customer churn prediction, and automated sales forecasting, all delivered as a service.

Oracle (US):

• Provides Oracle Cloud AI services, offering pre-built AI models, machine learning tools, and natural language processing capabilities. Businesses can leverage these services on Oracle's cloud infrastructure for various AI-powered applications.

Related Reports:

AI as a Service Market by Offering (SaaS, PaaS, IaaS), Technology (Machine Learning, Natural Language Processing, Context Awareness, Computer Vision), Cloud Type (Public, Private, Hybrid), Organization Size, Vertical and Region - Global Forecast to 2028