The term Artificial Intelligence was first used in 1956 by John McCarthy during a conference at Dartmouth. Since then, almost 70 years have passed and AI has undergone several evolutions, but only in the last decade has its application in companies experienced exponential growth.
According to a study conducted in 2021, now 60% of multinational companies use artificial intelligence, but of these, only 12% were early adopters, while the remaining 48% only started a path of innovation in recent years.
WAICF, the state of the art of AI
Artificial Intelligence is a growing industry: the AI market has been globally valued at $50 billion in 2020 and is expected to reach $640 billion by 2028. Driving this are big data, cloud-based services, and the growing demand for virtual assistants.
Looking at Italy, €380 million was invested in artificial intelligence solutions last year, a 27% growth over the previous 12 months. The companies involved in Ia in our country have shown good ability to export, with 24% of the market value given by foreign sales. The data collected by the Artificial Intelligence Observatory of the School of Management of the Politecnico di Milano are therefore positive, but with a wide margin for growth.
The picture that emerges depicts a market on the launching pad, but still underdeveloped compared to the rest of the world and in need of a strategy that gradually reduces this gap. It is therefore essential to focus on developing synergies between companies in the sector, to strengthen the innovative and competitive capacities of individual companies and the Italian AI system to expand the offer, strengthen marketing initiatives, develop employee training and access more funding and contributions.
WAICF, the Vedrai Group
Convinced of the need to join forces to create the Italian Artificial Intelligence hub and better address the international market is Vedrai, the Group founded in 2020 that develops AI-based solutions to support the decision-making process of small and medium-sized enterprises, which recently announced that it has closed an investment round for 40 million.
To create an Italian AI hub able to compete internationally, Vedrai Group will present its technologies at the first edition of the WAICF – World AI Cannes Festival, the main event in Europe dedicated to realities dealing with Artificial Intelligence, scheduled from April 14 to 16, 2022 at the Palais des Festivals e Congrès, within the Italian Pavilion headed by Assintel, the national reference association of ICT and Digital companies of Confcommercio – Imprese per l’Italia.
Vedrai participates at the World AI Cannes Festival together with Premoneo, an innovative SME part of Vedrai group, specialized in pricing, forecasting and segmentation solutions, with great experience in the world of travel and ticketing, with customers in different markets, including retail, banking, insurance, transport and logistics. Vedrai Group has acquired 51% of Premoneo intending to position itself as a leader in the field of Artificial Intelligence, not only in Italy but also in Europe. On the WAICF stage, Premoneo will illustrate how Artificial Neural Networks, among the most sophisticated Artificial Intelligence technologies, can be used to optimize forecasting and pricing activities, with a significant impact on commercial performance.
WAICF, discover Premoneo’s solutions
The WAICF, an event born from the idea of Marco Landi, entrepreneur and venture capitalist former president of Apple and founder of EuropIA, is a three-day event dedicated to the technologies of the future, an opportunity to discover and test the most advanced applications of Artificial Intelligence proposed by 120 companies, including over 10 Italian startups.
“Artificial Intelligence is becoming more and more prevalent in companies and for this reason it is essential to create opportunities that allow, even for those who are not in the business, to touch with their hand’s applications and potential,” says Massimo Dell’Erba, CTO & co-founder of Premoneo. “In such a complex moment, technologies of this type can help realities to maximize their potential by leveraging data, and this is what we and our colleagues at Vedrai are trying to do, supporting them in the entire digitization process.”
Come and discover our solutions at the Cannes Festival Palace. Meet our team at Booth A34. Schedule a meeting here https://calendly.com/premoneo/meet-premoneo-waicf