Artificial Intelligence (AI) in Chemical Market driven by Adoption of AI in R&D and Engineering Applications

The artificial intelligence (AI) in chemical market has been gaining traction over the years owing to the rising adoption of AI-based techniques such as machine learning and deep learning. AI helps in optimizing chemical engineering processes and aiding in research and development activities. AI tools assist in analyzing large databases to identify patterns and insights in manufacturing processes. They also have the ability to mimic human cognition for reasoning, learning, problem-solving, and planning. Some key capabilities offered by AI in chemical include reaction prediction, molecular property prediction, material design and discovery. Artificial intelligence powered systems can analyze chemical reactions at a faster pace and scale compared to humans. The adoption of AI is also beneficial in minimizing errors and saving development time and cost.

c is estimated to be valued at US$ 1.40 Bn in 2024 and is expected to exhibit a CAGR of 36.7% over the forecast period 2024 to 2031.

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