World spending on artificial intelligence technologies will almost triple in the coming years, predicts the analyst company International Data Corporation (IDC).
Experts expect that in 2018, the world market of cognitive systems and solutions in the field of artificial intelligence (AI) will be $ 19.1 billion, an increase of more than 54% compared to last year. In 2021, the indicator will reach $ 52.2 billion, and the average annual growth rate will be measured at 46.2%.
Experts have lowered the forecast for the market: in September 2017 they predicted that expenditures would reach $ 57.6 billion by 2021.
“The interest and awareness of artificial intelligence is growing, and every industry and company must evaluate AI to understand how it will affect their business processes and the efficiency of the market,” IDC analyst David Shubmel said.
According to his forecasts, by 2019 about 40% of digital transformation projects implemented in organizations will use AI services, and by 2021 three-quarters of enterprise applications will have artificial intelligence algorithms.
Analysts expect that this year the banking sector, which was leading in spending on cognitive systems and artificial intelligence last year, will give way to retail trade. Trading companies will spend on these items $ 3.4 billion, banks – $ 3.3 billion. Contribution of discrete production will be $ 2 billion, health care – $ 1.7 billion.
Most often, artificial intelligence will be used in quality management systems and making recommendations, diagnostic and treatment systems, automated customer support services, automated systems for intelligence and threat prevention, as well as in cybercriminal analysis and investigations.
More than half of the costs for cognitive and AI technology in the period from 2017 to 2021. will fall on the software, including cognitive platforms that provide tools and technologies for analyzing, organizing, accessing and providing advisory services based on structured and unstructured information. At the same time, the highest growth rate will be demonstrated by the service direction.
The largest AI market analysts call the US, which will have three quarters of the cost of cognitive systems and solutions in the field of artificial intelligence at the end of 2018. The second place will be occupied by Western Europe.