Multimodal AI Growth Opportunities in Enterprise Applications

Multimodal AI Growth Opportunities in Enterprise Applications

Increasing Use Cases in Diverse Industries Enable Stakeholders to Better Monetize Data

In an evolving digital landscape, artificial intelligence (AI) is emerging as a preeminent force poised to reshape traditional job functions, operational processes, and business models. Cross-industry enterprises embrace innovative multimodal AI tools, solutions, and platforms to augment business growth, optimize operations, create strategic differentiation, enhance customer experience, and personalize service portfolios. Advancements in voice, video, and text AI capabilities have supported the growth of multimodal AI.

In addition, with the recent disruption in the generative AI technology space, the multimodal approach is also shifting from cognitive search and recommendation to generation capabilities. Enterprises are looking for multimodal AI applications with the potential to transform business models, processes, and company functions. This creates growth opportunities across the generative AI stack, from data formats and tools to platforms and emerging AI applications.

This report highlights key emerging multimodal AI use cases across industry verticals and horizontal business functions and drivers and restraints that impact the AI market. It also offers technology vendors and service providers opportunities they can explore in industry-specific multimodal solutions and the data management space.