Artificial intelligence has captured the attention of business people, scientists, and engineers worldwide. Across industries leaders are seeking ways to create value through machine learning and other frontier technologies.

Companies like Facebook, Amazon, Google, and Alibaba have made commercial strides into AI—from smart bots to facial recognition to semantic analysis. Others like GE and Siemens are dedicating a large share of R&D to the AI-fueled industrial Internet.

If framed correctly, the opportunities for smart applications...

Detecting new growth opportunities as they emerge is the key to securing a competitive edge in fast-expanding markets. But how do you forecast where the next wave of growth will occur? Most marketing analysts rely on traditional macroeconomic data like population trends, urbanization ratios, and purchasing power. While this may be effective in slow-moving markets, new business opportunities are often localized and thus overlooked in competitive economies.