Cognitive AI Systems to Become $77.6 Billion Global Business in 2022, Says IDC
Global spending on cognitive-learning artificial intelligence systems is forecast to reach $77.6 billion in 2022, more than three times the $24.0 billion forecast for 2018, based on a 37.3 percent compound annual growth rate for the five years through 2022,…
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said IDC Wednesday. "The market for AI continues to grow at a rapid pace," it said. "Vendors looking to take advantage of AI, deep learning and machine learning need to move quickly to gain a foothold in this emergent market.” Software will be “both the largest and fastest growing technology category throughout the forecast,” representing about 40 percent of all spending, based on a 43.1 percent five-year CAGR, it said. “Conversational” AI applications, including personal assistants, will be a key area of focus for those investments, it said.