— Exponential Technology
Think back… Probably for as long as we might remember, we have always been using a keyboard (laptop, desktop, for some of us even a typewriter). During the last 30 years or so, we began using a mouse or trackpad to point and click. While this technology allows us to interface with machines, it is horribly inefficient and sometimes painful (think carpal tunnel syndrome or the crick in your neck).
The next wave of human machine interface technology is here. And it will be a combination of natural language processing technology (voice) and simple hand gestures (swipe, pinch, open, close, point, etc.).
In five years, we are going to look back and think… “What were we doing with those keyboards? That was terrible.” Parents and grandparents will tell their children and grandchildren how they spent their entire careers hunched over a keyboard hunting and pecking. The kids won’t believe it.
This inflection point in how we will interface with machines is exactly why the natural language processing market is starting to explode.
It was insignificant in 2016 – less than a billion dollars in total. By 2020, we’ll be looking at a $5 billion market… at least. And by 2025, this will be well in excess of $20 billion.
And the annual growth rate of the NLP market through 2024 is something to behold. For the next three years this market is growing at 25% or greater, and even as we get out to 2024, the market is still growing at 22% year-on-year.”