Russia Artificial Intelligence (AI) Market

Russia Artificial Intelligence (AI) Market is estimated to grow at a significance CAGR of 26.4% over the upcoming years due to growing technological advancements and implementation of enhanced solutions in various industries.

Russia Artificial Intelligence (AI) Market Overview

Artificial Intelligence (AI) is computer science, which is created to simulate or replicate human intelligence in smart machines. The mechanism of artificial intelligence includes four approaches – thinking rationally, acting rationally, thinking and acting humanly. It installs machine learning and its other subsets in machines and programs to perform functions such as reasoning, decision-making, and problem-solving. AI has its application in various industries, including agricultural sector. It helps in the production of plants and crops with human supervision. With the implementation of AI, it becomes easy for organizations to make several business decisions.

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Major Russia Artificial Intelligence (AI) Market Drivers

The growing technological advancements and implementation of enhanced solutions in various industries play a significant role in driving the growth of the Russia AI market. AI improves the research & development activities, which is increasing the adoption of AI solutions in most of the enterprises. In industries such as healthcare, defense, oil & gas, retail, automotive, and manufacturing, AI is being installed in every program to improve their problem-solving and decision-making abilities. The Russian Ministry of Communications & Mass Media is made responsible for increasing the implementation of AI to a new level and make Russia, a digital economy. The Russian president, Vladimir Putin, launched the National Strategy for the development of artificial intelligence (NSDAI) to increase the installation of artificial intelligence with the help of leading Russian companies, which includes Gazprom Neft, Rosatom, Rostelekom, Russian Railways, among others.

AI helps to discover historical data, which is not easily accessible, at a lower cost. This factor is inclining the government agencies and healthcare institutions towards implementing artificial intelligence technology. It will help the government to provide unstructured historical data to the research domain. This feature aids the growth of the Russia AI market. The Covid-19 pandemic has given the opportunity to several AI service providers and other start-ups to contain, diminish, and prevent the virus by implementing artificial intelligence in the healthcare sector. This has increased the implementation of AI, further increasing the business for new IT start-ups. These factors play a significant role in the growth of the Russia AI market.

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Based on the offering, the market is segmented into hardware, software, and services. The software segment is expected to grow at a higher CAGR over the forecast period. AI has several features, which includes advanced information capacity, parallel processing capacities, and high computing power. These features incline various enterprises to opt for AI in their business activities. AI provides meaning to the unstructured data. AI solutions consists of libraries for the creation and installation of AI applications, such as linear algebra, inference, and sparse matrices. All these features are driving the growth of the software segment in the Russia AI market.

Based on the technology, machine learning segment is anticipated to grow at a faster CAGR over the forecast period in the Russia AI market. AI has the capability to spot patterns and obtain data from images due to which AI is being installed to enhance the research & development activities in various industries, such as automotive, healthcare, education, and BFSI. There are various cognitive applications of machine learning, which includes clustering, hypothesis generation, filtering, altering, visualization, and navigation. These applications are propelling the growth of the machine learning segment in the Russia AI market.

Based on end-user, the increasing adoption of AI in healthcare industry due to Covid-19 pandemic is projected to grow the healthcare segment at a higher CAGR during the forecast period in the Russia AI market. AI helps in enhancing the efficiency of research & treatment activities. These capabilities of AI drives the growth of the healthcare segment in the Russia AI market.

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Key Developments:

• • In 2019, Microsoft partnered with Sberbank, a Russian banking & financial services company, to launch a joint project to study AI and robotics. This study is focussed to work on AI algorithms to run robots.
  • In 2018, Samsung Electronics opened a new Artificial Intelligence center in Russia. This center helped the company to strengthen its leadership in the field of AI and explore the capabilities of user-oriented AI.
  • In 2018, SAP collaborated with the start-up Robot Vera to provide SAP success factors solution for customers. It boosts HR recruiting efficiency as it features an AI assistant to take over routine tasks.

The Russia Artificial Intelligence (AI) market is segmented into technology, offering, and end-user. Based on the offering, the market has been segmented into hardware, software, and services. Based on the technology, the market has been segmented into machine learning, natural language processing (NLP), machine vision, and others. Based on the end-user, the market has been segmented into healthcare, BFSI, retail, manufacturing, automotive, agriculture, media & entertainment, and others.

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Market Segmentation:

Russia Artificial Intelligence (AI) Market by Offering

• • Hardware
  • Software
  • Services

Russia Artificial Intelligence (AI) Market by Technology

• • Machine Learning
    • Deep Learning
    • Others
  • Natural Language Processing (NLP)
  • Machine Vision
  • Others

Russia Artificial Intelligence (AI) Market by End-User

• • Healthcare
  • BFSI
  • Retail
  • Manufacturing
  • Automotive & Transportation
  • Agriculture
  • Media & Entertainment
  • Others