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Autonomous agents are the programmed devices that analyze the external environment self-reliant on the basis of user instructions. Majorly used in remote locations, the Artificial Intelligence operated devices have internal settings which do not need any human interventions. The autonomous agents majorly contribute to the industry verticals such as BFSI, IT & telecom, manufacturing, healthcare, transportation & mobility. Autonomous agents are most fit for applications that require communication between segments, detecting, sensing or monitoring of the environment, or autonomous operation activity. Since agent specialists can analyze on their own (for example, draw deductions), they can easily perform complex tasks dependent on messages they get, their convictions, and their general objectives and goals.
For instance, while purchasing services or products, the devices used are known as buying agents. These agents search for various options available on the internet and compare them with the requirements provided by the user. Also, autonomous agents can be used for data mining, analyzing the trends and patterns from different data sources. The agents can also detect the minute changes and alarms the user if any unusual activities are identified. The other application of autonomous agent is monitoring and surveillance.
Key Market Driver -
• Rising requirements for handling growing unstructured and complex data sets • Growing adoption of Cloud-based solutions and Artificial Intelligence technology
Key Market Restraint -
• The high capital cost associated with autonomous agents
Some of the key players in autonomous agents market are Oracle Corporation, International Business Machines (IBM) Corporation, SAP SE, Amazon.Com Inc., SAS Institute Inc., Infosys Ltd., Nuance Communications, Fair Isaac Corporation (FICO), Fetch.ai, Intel Corporation, Salesforce.com Inc., Alphabet Inc. (Google) and Microsoft Corporation among others.
In self-driving vehicles, autonomous agents need to settle on a sequence of decisions so that it can adjust to the external environment or to conduct different input from agents, especially to avoid collisions and recover to safe conditions. The AI providers observed that when the required information is not available, it becomes challenging for AI to operate. IBM research team is working on such operations by using various applications and came up with real-time sequential decision-making by autonomous agents.
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North America has implemented AI solutions from the early stage of the market. It is expected to see even more substantial developments over the coming years. The complex process of Artificial Intelligence (AI) and Machine Learning (ML) is boosting the adoption of autonomous agents. Artificial Intelligence has applications in almost all the industry sectors which can produce high efficiency and boost performance. Europe is likely to be the second large region to adopt autonomous agents. UK can expand its economic benefits with the implementation of AI Artificial Intelligence on a large basis. The data generated is increasing with the rising implementation of AI and IoT technology, which will require real-time autonomous agents to communicate and process the program. The adoption of autonomous agents in the APAC, especially in India and China are expected to rise owing to its applications.
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