Firms and agencies in the United States will represent nearly 66 percent of all spending on artificial intelligence systems in 2019, or about $23 billion, led by the retail and banking industries, IDC analysts predict.
Western Europe will be the second largest region in 2018, led by banking, retail, and discrete manufacturing, IDC says.
The strongest spending growth over five years will be in Japan (58.9 percent compound annual growth rate) and Asia/Pacific (excluding Japan and China) (51.4 percent CAGR). China will also experience strong spending growth throughout the forecast (49.6 percent CAGR), according to IDC.
Worldwide spending on artificial intelligence (AI) systems is forecast to reach $35.8 billion in 2019, an increase of 44 percent over the amount spent in 2018, IDC predicts.
IDC also expects spending on AI systems will more than double to $79.2 billion in 2022.
Global spending on AI systems will be led by the retail industry where companies will invest $5.9 billion this year on solutions such as automated customer service agents and expert shopping advisors and product recommendations.
Banking will be the second largest industry with $5.6 billion going toward AI-enabled solutions including automated threat intelligence & prevention systems and fraud analysis & investigation systems.
The industries that will experience the fastest growth in AI systems spending over the 2018 to 2022 period are federal/central government (44.3 percent CAGR), personal and consumer services (43.3 percent CAGR), and education (42.9 percent CAGR), IDC believes.
The AI use cases that will see the most investment in 2019 are automated customer service agents ($4.5 billion worldwide), sales process recommendation and automation ($2.7 billion), and automated threat intelligence and prevention systems ($2.7 billion).
Five other use cases will see spending levels greater than $2 billion in 2019: automated preventative maintenance, diagnosis and treatment systems, fraud analysis and investigation, intelligent process automation, and program advisors and recommendation systems.
Software will be the largest area of AI systems spending in 2019 with nearly $13.5 billion going toward AI applications and AI software platforms. AI applications will be the fastest growing category of AI spending with a five-year CAGR of 47.3 percent.
Hardware spending, dominated by servers, will be $12.7 billion this year as companies continue to build out the infrastructure necessary to support AI systems.
By the end of the forecast, AI-related services spending will nearly equal hardware spending.
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