Post by wekeve7933 on Dec 5, 2023 5:03:02 GMT -5
According to the latest figures published by IDC, the artificial intelligence (AI) market should experience average growth of 54% every year by 2020 and represent some 46 billion dollars by that date, the equivalent of the market of CRM yet more mature… According to IDC, the market for artificial intelligence (AI) and cognitive systems will reach $12.5 billion in 2017 , an increase of 59% compared to 2016. Overall spending on cognitive solutions and AI will continue to see significant investment over the coming years, reaching an annual growth rate of 54.4% through 2020, for a market that will then be worth more than $ 46 billion.
Dollars in revenue (i.e. as much as the global CRM market on the same date). “ Intelligent Special Data applications based on cognitive computing, artificial intelligence and deep learning are the next wave of technology transforming the way consumers and businesses work, learn and play ,” said David Schubmehl, research director at IDC. Cognitive and AI systems are quickly becoming a key component of IT infrastructure and all businesses need to understand these technologies and plan for their adoption and use within their organizations. » The boom in cognitive applications From a technology perspective, the largest portion of spending in 2017 ($4.5 billion) will be in cognitive applications, an area that includes cognitive processes, but also industrial applications that learn, discover and make recommendations or forecasts. Cognitive computing/AI platforms, which provide the tools and technologies to analyze, organize, access and deliver consulting services based on a range of structured and unstructured information, will see investments of nearly $2.5 billion this year, according to the firm.
Spending on services will be around $3.5 billion while spending on infrastructure is estimated at $1.9 billion this year. For the firm, all these segments will be growing by 2020, boosted by cognitive applications which will record the most sustained growth (nearly 70%). The cognitive/AI application use cases that will see the highest level of investment this year are: quality management surveys and recommendation systems; diagnostic and treatment systems; automated customer service agents; automated threat intelligence and prevention systems; fraud analysis. Combined, these five use cases will provide nearly half of all cognitive/AI systems spending in 2017. The use cases that will see the fastest growth in spending during the 2015-2020 forecast period are public safety and emergency response (85.5%) and pharmaceutical research and discovery (74. 2%). “ Double-digit spending growth is expected for cognitive and artificial intelligence systems across all industries, but growth varies depending on how particular use cases solve existing and future business priorities ,” says Marianne Daquila, Research Manager, Customer Insights and Analysis at IDC. Heavily regulated markets, such as banking and securities investment services, are among the primary drivers of growth. Collectively, these two financial industries will account for a quarter of global spending on cognitive/AI solutions. Strict compliance requirements are key factors for these industries when seeking new innovations in fraud and risk detection.
Dollars in revenue (i.e. as much as the global CRM market on the same date). “ Intelligent Special Data applications based on cognitive computing, artificial intelligence and deep learning are the next wave of technology transforming the way consumers and businesses work, learn and play ,” said David Schubmehl, research director at IDC. Cognitive and AI systems are quickly becoming a key component of IT infrastructure and all businesses need to understand these technologies and plan for their adoption and use within their organizations. » The boom in cognitive applications From a technology perspective, the largest portion of spending in 2017 ($4.5 billion) will be in cognitive applications, an area that includes cognitive processes, but also industrial applications that learn, discover and make recommendations or forecasts. Cognitive computing/AI platforms, which provide the tools and technologies to analyze, organize, access and deliver consulting services based on a range of structured and unstructured information, will see investments of nearly $2.5 billion this year, according to the firm.
Spending on services will be around $3.5 billion while spending on infrastructure is estimated at $1.9 billion this year. For the firm, all these segments will be growing by 2020, boosted by cognitive applications which will record the most sustained growth (nearly 70%). The cognitive/AI application use cases that will see the highest level of investment this year are: quality management surveys and recommendation systems; diagnostic and treatment systems; automated customer service agents; automated threat intelligence and prevention systems; fraud analysis. Combined, these five use cases will provide nearly half of all cognitive/AI systems spending in 2017. The use cases that will see the fastest growth in spending during the 2015-2020 forecast period are public safety and emergency response (85.5%) and pharmaceutical research and discovery (74. 2%). “ Double-digit spending growth is expected for cognitive and artificial intelligence systems across all industries, but growth varies depending on how particular use cases solve existing and future business priorities ,” says Marianne Daquila, Research Manager, Customer Insights and Analysis at IDC. Heavily regulated markets, such as banking and securities investment services, are among the primary drivers of growth. Collectively, these two financial industries will account for a quarter of global spending on cognitive/AI solutions. Strict compliance requirements are key factors for these industries when seeking new innovations in fraud and risk detection.