Who is the market leader in deep neural networks?
by Aratrika Dutta
April 21, 2022
The deep neural network market size is expected to reach US$5.98 billion by 2027, who is the market leader?
Neural networks are empirical mathematical models that mimic the way people identify patterns, learn new skills, and solve problems. A neuron in the mammalian brain is activated and “fires” a connected neuron only after an electrical threshold has been exceeded. This led to the development of neural networks. According to Emergen Research, the global deep neural network market size is expected to reach US$5.98 billion by 2027, registering a CAGR of 21.4% over the forecast period. Let’s see who is in the lead between Open AI and Neurala in the deep neural network market.
OpenAI is a non-profit artificial intelligence research company, associated with business magnate Elon Musk, which aims to promote and carefully develop user-friendly AI in ways that benefit, rather than harm, humanity in his outfit. The organization aims to “collaborate freely” with other institutions and researchers by making its patents and research open to the public. The company is backed by over US$1 billion in commitments. Its current turnover amounts to more than 27 million US dollars.
Neurala, founded in 2006, is a pioneer in visual AI software. Neurala helps industrial companies improve their quality inspection process with technology that dramatically reduces the time, cost, and skill required to build and maintain production-grade, custom vision AI solutions. of its mission to make AI more applicable and useful in the real world. global applications. Neurala has raised US$12m in 2021 in funding to accelerate the development of vision AI for manufacturing. Its current turnover is 32.1 million US dollars.
Although huge amounts of money have been raised through investments and some through acquisitions, the non-profit research group is focused on creating AI for the benefit of all humanity and has succeeded in maintain its open source mentality. OpenAI employs some of the most well-known people in the AI field, including deep learning expert Ilya Sutskever. Microsoft, Amazon and Elon Musk are among its sponsors.
Neurala leverages its proprietary AI platform to enable companies to automate visual inspections. Manufacturers around the world use Neurala VIA software to increase inspection rates and reduce product defects. Now with a European office in Trieste, Italy.
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